Is Traverse City, MI a good place to invest in rental property?

Traverse City, MI has a median modeled monthly cash flow of $-1,897 and a median cap rate of 1.7%, on a median sold price of $406,250. Prices changed +0.7% year over year.

What is the average cap rate in Traverse City, MI?

The median cap rate across recently sold homes in Traverse City, MI is 1.7%, based on CashFlowRE's rent and expense modeling.

What is the median home price in Traverse City, MI?

The median sold price in Traverse City, MI is $406,250 (about $280 per square foot).

Investing in Traverse City, MI Real Estate

A data-driven snapshot of the Traverse City, MI rental-property market, built from recently sold homes and CashFlowRE's per-listing investment modeling — median price, cap rate, monthly cash flow, appreciation and inventory — so you can judge the market before you ever open a listing.

$406,250Median sold price

$280Median $/sqft

1.7%Median cap rate

$-1,897Modeled cash flow / mo

+0.7%Appreciation YoY

7.0Months of supply

619Active listings

1,066Sold (last 12 mo)

What the Traverse City numbers say

In Traverse City, MI, the median home sold for $406,250 (about $280 per square foot), and the typical deal models out to a 1.7% cap rate with a median $-1,897 of monthly cash flow. Sold prices moved +0.7% over the past year. Inventory sits at about 7.0 months of supply. These are medians across recorded sales; individual properties vary widely, which is exactly what CashFlowRE scores listing by listing.

Other Michigan markets to compare

See Traverse City cash-flowing listings

CashFlowRE ranks every for-sale home in Traverse City, MI by cap rate, cash-on-cash return, DSCR and monthly cash flow — so the best rental deals rise to the top. Create a free account to screen Traverse City deals, or browse the national market data.