Cost of Living in Traverse County, Minnesota
At a Glance
Rent burden measured as median gross rent as a percentage of renter household income (Census ACS B25071)
How Traverse County Compares
Median monthly rent comparison
Detailed Housing Stats
National Ranking
Affordability Rank
Traverse County ranks #129 of 3,144 counties for affordability (top 4%)
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.
Cost of Living Advisory: Traverse County
Affordability Verdict
Housing in Traverse County is affordable. The median rent is $617/month against a median household income of $65,931, putting rent at 11.2% of income.
Rent vs. Own
At $617/month rent versus $751/month in owner costs, renting is roughly $134/month cheaper — a 18% difference.
Income Needed
To afford the median rent without exceeding 30% of gross income, a household needs to earn approximately $24,680/year. For owner costs at the 28% rule, the required income is roughly $32,186/year. With a median household income of $65,931, most households can comfortably afford rent here. Notably, 27.0% of renter households in Traverse County are cost-burdened, spending more than 30% of income on housing.
Regional Context
Within Minnesota, Traverse County is more affordable than Wilkin County by roughly 10% ($617/mo vs $561/mo).
Affordability Calculator
See how your income compares to housing costs in Traverse County
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
Income Needed Calculator
See how much you need to earn to comfortably afford housing
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Based on the 30% rule for rent and 28% rule for housing costs (mortgage + owner costs). Mortgage estimate assumes 20% down, 7.2% interest, 30-year fixed.
Frequently Asked Questions
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See Today's RatesData: U.S. Census Bureau, American Community Survey (ACS) 5-Year Estimates (2019-2023) — Informational only. Not financial or legal advice.
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