Traverse City, Michigan is a small city with slightly more than 15,000 residents. It's a comfortable place to settle down, as retirees make up a greater percentage of the population (20%) here than they do nationally (14%). Renters tend to be in the minority in the city, and 63% of residents own their homes. At $904/month, the average rent is roughly the same as the state average.
With an average commute time of about 17 minutes, outperforming most cities in the state, Traverse City residents find that traveling to work isn't overly time-consuming. Driving a vehicle is the most common way to get to work, opted for by 41% of commuters, while public transportation is not widely used. Not many residents (4%) commute to work on foot, though the number is greater than the national average.
Compared to the national average (7%), Traverse City has a large percentage of residents over the age of 25 who have advanced degrees, as 11% possess a Master's degree or a Doctorate. Additionally, 19% have earned a Bachelor's degree, which also outpaces the national average. Many Traverse City residents work in one of three industries: healthcare, retail, and entertainment. Together, these industries make up 25% of the labor force in the city. Meanwhile, looking at job function, many of the city's workers are in sales, as 7% of the city's population reports this as their field of work, the highest number of any field. Traverse City workers earn an average annual income of nearly $69,000, around $7,000 more than the Michigan average. However, Traverse City compares less favorably to the national average of $73,345.
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