Little Traverse, MI housing market
Home prices around Little Traverse have risen about 80% over the past 5 years.
Home values, sales, trends and how Little Traverse compares with the towns next door — updated as new data is published.
Home prices up 80% in 5 years
The federal house price index for the ZIP codes around Little Traverse rose 80% over the past 5 years, faster than across Michigan (52%). Last year prices fell 0.9%. Carrying the Census median home value forward with that index puts the typical Little Traverse home at roughly $688,000 today.
Show as a table
| Year | Change that year | Since 2000 | Michigan since 2000 |
|---|---|---|---|
| 2025 | −0.9% | +156% | +97% |
| 2024 | +10% | +158% | +88% |
| 2023 | +21% | +134% | +76% |
| 2022 | +18% | +93% | +64% |
| 2021 | +15% | +64% | +45% |
| 2020 | +2.4% | +42% | +30% |
| 2019 | +8% | +39% | +26% |
| 2018 | +5.3% | +29% | +20% |
| 2017 | +9.1% | +22% | +12% |
| 2016 | +4.2% | +12% | +5.3% |
| 2015 | +0.7% | +7.5% | 0% |
| 2014 | +7.8% | +6.7% | −4.7% |
| 2013 | −1.3% | −1% | −12% |
| 2012 | +1.4% | +0.3% | −16% |
| 2011 | −8.4% | −1% | −16% |
| 2010 | −11% | +8% | −12% |
| 2009 | −0.1% | +21% | −5% |
| 2008 | −7.9% | +21% | +3.5% |
| 2007 | −1.2% | +32% | +11% |
| 2006 | +3.1% | +33% | +16% |
| 2005 | +7.6% | +29% | +18% |
| 2004 | +4.8% | +20% | +14% |
| 2003 | +3.5% | +14% | +10% |
| 2002 | +3.4% | +10% | +8.3% |
| 2001 | +6.8% | +6.8% | +5% |
| 2000 | — | — | — |
How Little Traverse ranks on rising home prices →
Federal Housing Finance Agency House Price Index (annual, developmental) for ZIP codes 49740, 49706, 49722, weighted by land area. It tracks repeat sales and appraisals of the same homes, so it shows how prices changed, not what homes cost. The estimated value scales the Census (ACS 2020-2024) median home value by that change.
Little Traverse and its neighbors
| Town | Typical value | 1-yr change | 2-bed rent | New homes 2025 | Median income |
|---|---|---|---|---|---|
| Little Traverse | — | −0.9%† | $1,280 | — | $88,368 |
| Harbor Springs | $580K | +11.1% | $1,340 | — | $75,417 |
| Pleasantview | — | −1.1%† | $1,280 | — | $70,694 |
| Bear Creek | — | +4.6%† | $1,250 | 31 | $71,090 |
| West Traverse | — | −3.3%† | $1,340 | — | $93,929 |
| Littlefield | — | +10.1%† | $1,040 | — | $85,262 |
† FHFA price index change, where Zillow has no home value for the town.
3.9 years of income
The typical Little Traverse home costs about 3.9 years of the town's median household income, about the same as across Michigan (3.7).
How Little Traverse ranks on affordability →
Home value ÷ ACS median household income.
Owners, rent & taxes
U.S. Census Bureau, ACS 2020-2024.
A two-bedroom rents for about $1,280
HUD's Fair Market Rent for a two-bedroom in Little Traverse is $1,280 a month, utilities included: roughly what a modest, recently rented unit costs. Renters already in Little Traverse pay a median of $988, so moving in tends to cost more than staying put. A two-bedroom takes about 17% of the town's median household income.
Studio $900 · 4 bedrooms $1,700
U.S. Department of Housing and Urban Development, FY2026 Fair Market Rents by ZIP code (49706, 49722, 49740; Emmet County, MI), weighted by land area. A Fair Market Rent is the 40th-percentile rent plus utilities for a standard unit. Median rent: U.S. Census Bureau, American Community Survey.
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. Listings link to their publishers.