Even on the area’s higher pay, West Traverse Township costs more to live in than 72% of U.S. towns
Home prices around West Traverse Township have risen about 80% over the past 5 years.
Census 2020–24 home values, rents, tax bills and cost burden, measured against the median household income of the Petoskey, MI micro area ($78K). How TownRatings grades cost of living
The grade measures what housing costs against what households in the area earn. West Traverse Township’s area earns well above the typical U.S. town ($78K against $74K), but homes, rent and taxes here run higher still. Owners keep up better than renters: 26% of owners pay 30% or more of income for housing (typical U.S. town: 20%), against 39% of renters.
In dollars
- $1,340a month for a two-bedroom, utilities includedHUD Fair Market Rent, 2026
In paychecks the grade
- 5.1 yrsof area income buys the typical home; the typical U.S. town: 3.3$78K, Petoskey-area income
- 18%of area income goes to the median rent; the typical U.S. town: 18%Census 2020–24
- 26%of owners do; the typical U.S. town: 20%Census 2020–24
What West Traverse Township’s housing numbers say
A second-home town
37% of West Traverse Township’s homes are seasonal or vacation homes, empty for much of the year. Year-round rentals are scarce: there are 74 renter households. Property taxes ↓
Prices rose faster than Michigan’s over five years
There’s no Zillow index for West Traverse Township, so the page uses the federal house price index for the ZIP code around it, which follows repeat sales of the same homes. It rose 80% over five years, against 52% across Michigan. Price trend ↓
Nearly every household owns
90% of West Traverse Township households own their home, against 73% across Michigan. There are only 74 renter households, so rentals are scarce. Property taxes ↓
Written from the data on this page. There’s no Zillow index for West Traverse Township, so the typical value is an estimate: the Census median carried forward with the federal house price index; incomes, rents paid, taxes and ownership come from the Census American Community Survey.
What’s behind West Traverse Township’s grade
Measured against what households in the area earn, West Traverse Township is more affordable than 28% of U.S. towns. Home prices pull the grade down most; rent holds it up.
Home prices up 80% in 5 years
The federal house price index for the ZIP code around West Traverse Township rose 80% over the past 5 years, faster than across Michigan (52%). Last year prices fell 3.3%. Carrying the Census median home value forward with that index puts the typical West Traverse Township home at roughly $529,000 today.
Carrying the Census median forward with the index puts a typical home at about $529K.
Federal Housing Finance Agency House Price Index (annual) for the ZIP codes around West Traverse Township, weighted by land area. It tracks repeat sales of the same homes, so it shows how prices changed, not what homes cost.
A typical home costs 5.1 years of area income
The calculator starts from the area income the grade uses. Switch to West Traverse Township’s own median, or type yours.
That’s $223K short of a typical West Traverse Township home.
A two-bedroom rents for about $1,340 a month here, $1,800 less than owning.
An estimate, not a loan offer: payments of up to 28% of income, a 30-year fixed loan, West Traverse Township’s typical property tax (0.84% of value a year, from the Census) and insurance of about 0.35%. Mortgage insurance, HOA fees and other debts aren’t included.
A two-bedroom rents for about $1,340
Renters already here pay a median of $1,148, so moving in tends to cost more than staying put.
Fair Market Rent a month, utilities included
U.S. Department of Housing and Urban Development, Fair Market Rents by ZIP code (Emmet County, MI): the 40th-percentile rent plus utilities for a standard unit. Median rent and renters: U.S. Census Bureau, American Community Survey.
High tax bills, but a low tax rate
The median bill is $3,346 (Michigan: $2,904), because homes cost more. As a share of value it’s 0.84% a year, against 1.25% statewide.
Census American Community Survey 2020–24: the median real-estate tax bill homeowners report, and that bill ÷ the median home value. Bills include town, school and county taxes. The Census reports bills over $10,000 only as “$10,000+”.
The rest of a budget near West Traverse Township
Only figures published free for the whole country, each labeled with the area it covers: Michigan, or Michigan. Groceries follow the goods price level; nobody publishes them town by town.
| Cost | Here | Compared with | Area | Source |
|---|---|---|---|---|
| Electricity cents per kWh, homes | 23.1¢ | U.S. 18.3¢ | state | EIA, July 2026 |
Price levels: U.S. Bureau of Economic Analysis, Regional Price Parities 2024 (metro area and state). Electricity: U.S. Energy Information Administration, Electric Power Monthly, table 5.6.A.
West Traverse Township vs. its neighbors
Zillow publishes no value for West Traverse Township. Pleasantview Township and Friendship Township and Little Traverse Township have no Zillow value, so they are in the table only.
Cost next door · one source per column
| Town | Cost | Typical home Zillow, latest | Median value Census 2020–24 | Tax rate bill ÷ value | 2-bed rent HUD 2026 |
|---|---|---|---|---|---|
| West Traverse Township | C | — | $400K | 0.84% | $1,340 |
| Harbor Springs | C | $574K | $416K | 1.08% | $1,340 |
| Little Traverse Township | B | — | $345K | 0.71% | $1,280 |
| Pleasantview Township | – | — | $357K | 0.71% | $1,280 |
| Friendship Township | – | — | $354K | 0.78% | $1,340 |
“—” under Zillow: Zillow publishes no value for that town, so it’s left blank rather than mixed with Census figures. “—” under Cost: not graded (too little Census data, or under 1,000 residents).
Questions about the cost of living in West Traverse Township
Is West Traverse Township expensive to live in?
Measured against what households in the area earn, West Traverse Township costs more than 72% of U.S. towns: a C for cost of living. The typical home costs 5.1 years of the median household income of the Petoskey, MI micro area ($78K).
How much is rent in West Traverse Township?
HUD puts a two-bedroom at about $1,340 a month with utilities, the going rate for someone moving in. Renters already here pay a median of $1,148 (Census 2020–24).
What are property taxes in West Traverse Township?
The median bill is $3,346 a year, 0.84% of the median home value (Michigan: $2,904, 1.25%), from the Census 2020–24.
Neighbors talk housing
What West Traverse Township buyers, sellers and renters are saying.
Home values: Zillow Home Value Index (ZHVI), Zillow Research. Sales, days on market and supply: Redfin Data Center. Income, ownership, taxes and rent: U.S. Census Bureau, American Community Survey. Price trend: Federal Housing Finance Agency House Price Index. Fair Market Rents: U.S. Department of Housing and Urban Development. The calculator is an estimate, not a loan offer. Regional price levels: BEA; electricity: EIA. How TownRatings grades cost of living.