Cost of Living in Traverse County, Minnesota

$617/mo

Median Monthly Rent

$110,100

Median Home Value

33% below state averageUnaffordable

At a Glance

Median Monthly Rent

$617/mo

33% below state average

Median Home Value

$110,100

61% below national

Rent-to-Income Ratio

27.0%

% of income spent on rent

Rent burden measured as median gross rent as a percentage of renter household income (Census ACS B25071)

Affordability Rating

Unaffordable

Rent over 50% of income

How Traverse County Compares

Median monthly rent comparison

Traverse County$617/mo

Minnesota Average$915/mo

National Median$1,163/mo

Detailed Housing Stats

$617/mo

Median Gross Rent

$110,100

Median Home Value

$751/mo

Monthly Owner Cost

27.0%

Rent-to-Income Ratio

Data Story

About Cost of Living in Traverse County, Minnesota

Traverse leads nation in affordability

Traverse County's 11.2% rent-to-income ratio is exceptional—well below national norms—even though the $65,931 median income runs 12% below the national average. The $617 monthly rent is the lowest in this eight-county group, making Traverse genuinely accessible for budget-conscious renters nationwide.

Minnesota's affordability champion

At 11.2%, Traverse County's ratio beats Minnesota's 14.5% state average by over 3 percentage points, making it one of the state's most affordable counties. The $617 median rent is dramatically below the state average of $915, reflecting a rural rental market with minimal pressure.

Unmatched rent bargains

Traverse County's $617 rent undercuts every other county in this sample—Stevens ($833), Todd ($850), and Swift ($900) all run substantially higher. For renters prioritizing affordability above all else, Traverse stands alone as a genuine bargain.

Minimal housing burden, modest income

Renters spend just $617 monthly while homeowners invest $751, with a median home value of only $110,100—the lowest by far. At 11.2% of the $65,931 income, Traverse residents spend less on rent than residents of any other county surveyed, freeing substantial income for savings.

Ultimate affordability play for remote workers

If you're working remotely or living on a fixed income, Traverse County is unbeatable for housing costs. The trade-off is isolation and limited local employment, so ensure your income is portable before making the move.

Affordability Calculator

See how your income compares to housing costs in Traverse County

Your Annual Household Income

Rent Burden

11.2%

of gross income

Max Housing (28% Rule)

$1,538

per month

Owner Cost Burden

13.7%

of gross income

You can likely afford the median home in Traverse County

Median home value is $110,100. Estimated monthly cost: $879 vs. your max of $1,538.

Rent Affordability Guide

Your rent-to-income ratio11.2%

Recommended max30.0%

Frequently Asked Questions

What is the cost of living in Traverse County, Minnesota?

Traverse County, Minnesota has a median monthly rent of $617/mo and a median home value of $110,100. The affordability rating is Unaffordable, with rent making up approximately 27.0% of median household income.

What is the median rent in Traverse County?

The median gross rent in Traverse County is $617/mo. This is 33% below state average for Minnesota.

Is Traverse County affordable?

Traverse County is rated Unaffordable based on rent-to-income ratio of 27.0%. Spending over 50% of income on rent is generally considered unaffordable.

How does Traverse County's rent compare to the state average?

Traverse County's median rent of $617/mo is 33% below state average of $915/mo for Minnesota.

What is the median home value in Traverse County?

The median home value in Traverse County, Minnesota is $110,100. This is 61% below the national median home value of $281,900.