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)
These figures are county medians, not a personal budget. Use them to frame rent, ownership, and income tradeoffs, then account for household size, commute, financing, insurance, taxes, debt, and local availability before making a decision.
How Traverse County Compares
Median monthly rent comparison
Detailed Housing Stats
National Ranking
Affordability Rank
Traverse County ranks #620 of 3,142 counties for affordability (top 20%)
Sourced county brief
Traverse County Median Gross Rent Below State Unweighted Mean
Traverse County's median gross rent is $615 per month, which is $323 below the Minnesota unweighted county mean of $938. The official B25071 median gross rent as a percentage of household income (GRAPI) is 33.3%. This official metric is 6.0 percentage points higher than the state unweighted county mean of 27.3%. Median renter-household income in the county was estimated at $20,536. In the owner-occupied sector, the median home value is $114,100, which is $124,236 below the state unweighted mean of $238,336. The median selected monthly owner cost was estimated at $796, which is $320 below the state unweighted mean of $1,116. See ACS table B25071 for the underlying estimate.
Source record
- U.S. Census Bureau ACS 2020-2024 5-Year Estimates — B25064 Median Gross Rent
- U.S. Census Bureau ACS 2020-2024 5-Year Estimates — B25071 GRAPI
- U.S. Census Bureau ACS 2020-2024 5-Year Estimates — B25077 Median Home Value
- U.S. Census Bureau ACS 2020-2024 5-Year Estimates — B25088 Selected Monthly Owner Costs
- U.S. Census Bureau ACS 2020-2024 5-Year Estimates — B25119 Household Income by Tenure
Data version acs5-2020-2024 · Method cost-brief-v1
Cost of Living Advisory: Traverse County
Affordability Verdict
ACS B25071 estimates median gross rent at 33.3% of renter household income in Traverse County, which is between the 30% and 50% rent-burden benchmarks. This is a median percentage among renter-occupied units, not the share of households above a threshold.
Rent vs. Own
Median gross rent is $615 per month; median selected monthly owner costs are $796. These ACS medians describe different tenure groups and are not a personalized rent-versus-buy calculation.
Income Needed
Using the common 30% budgeting benchmark, $24,600 in annual gross income would allocate 30% to the county's median gross rent. This is a reproducible illustration, not evidence that a particular household can afford housing.
Regional Context
The Minnesota unweighted mean of county median rents is $938 per month. Traverse County's $615 median is 34.4% below that comparison value.
Data version acs5-2020-2024 · Method cost-advisory-v2
Affordability Calculator
See how your income compares to housing costs in Traverse County
Rent Burden
11.7%
of gross income
Max Housing (28% Rule)
$1,470
per month
Owner Cost Burden
15.2%
of gross income
You can likely afford the median home in Traverse County
Median home value is $114,100. Estimated monthly cost: $911 vs. your max of $1,470.
Rent Affordability Guide
Income Needed Calculator
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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 (2020-2024). Data is informational only and is not personalized financial advice.
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