Data through September 2026 · updated 2026-11-07 · free, from Zillow, Realtor.com, the Census Bureau and other public sources
Typical home value$151,419+7.6% YoY · prices are rising fast
Market right nowSeller's marketFewer homes for sale than last year, 0% have cut their price
Income needed to buy, per year$32,824About 0.5× the local median income ($68,666): affordable for a typical household
Days on market63 daysFaster than a year ago: sellers have the edge
The typical home in Traverse County, MN is worth $151,419, up 7.6% from a year ago. That is slightly below what local incomes have historically supported: fair value is about $156,225, so the area is 3.1% undervalued. It is a seller's market: homes take about 63 days to sell, listings are down 46% from a year ago, 0% of listings have had a price cut. A household needs about $32,824 a year to afford the typical home here at today's 7.18% mortgage rate (20% down, payment at 30% of income); the median household earns $68,666. In the latest IRS figures, 44 more people moved out than in.
Home value over time
Solid: typical home value · dashed: fair value (household income × the 20-year average price-to-income ratio). Sources: FHFA, Zillow, U.S. Census Bureau.
Prices and affordability
Typical home value
$151,419
Change in 1 year
+7.6%
Overvalued %
−3.1%
Show 6 more
Fair home value
$156,225
Change in 5 years
+19.0%
Home value to income
2.2×
Monthly mortgage payment (20% down)
$821
Income needed to afford it
$32,824
Property tax rate
0.99%
Rent and investing
HUD Fair Market Rent, 2 bedrooms
$1,014
Market activity
Listings vs a year ago
−46.2%
Days on market
63
Listings with a price cut
0.0%
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Homes for sale
7
Pending sales per 100 listings
29
Asking price per sq ft
$71
People and jobs
Median household income
$68,666
Population change (1 year)
−0.7%
Unemployment rate
4.5%
Show 4 more
Population
3,130
Income adjusted for cost of living
$79,937
Net moves in (IRS)
−44
Cost of living (US = 100)
85.9
Schools, risk and environment
School rating (1 to 10)
5.4
FEMA hazard risk score (0 to 100)
6.2
Flood risk score
13.7
Show 3 more
Wildfire risk score
15.9
Walkability (1 to 20)
6.5
Road, rail and air noise
51 dB
Questions people ask
Is Traverse County, MN overvalued?
Home prices in Traverse County, MN are slightly below what local incomes have historically supported: fair value is about $156,225, so the area is 3.1% undervalued.
Is Traverse County, MN a buyer's or seller's market?
Traverse County, MN is a seller's market: homes take about 63 days to sell, listings are down 46% from a year ago, 0% of listings have had a price cut.
Are home prices going down in Traverse County, MN?
Home values in Traverse County, MN are up 7.6% over the last year.
How much do you need to earn to buy a home in Traverse County, MN?
A household needs about $32,824 a year to afford the typical home in Traverse County, MN at today's 7.18% mortgage rate (20% down, payment at 30% of income); the median household earns $68,666.