Monroe, MI vs Traverse City, MI: cost of living compared
Price levels from BEA (2024); rent and home values from Zillow (September 2026).
The short answer
- Overall, living costs in Traverse City, MI and Monroe, MI are within 1% of each other (BEA, 2024).
- To keep the same standard of living, $75,000 in Monroe works out to about $74,900 in Traverse City, before taxes.
- Housing is 4.7% higher in Traverse City, goods 0.0% higher and other services 0.0% higher, which roughly cancel out.
- Typical asking rent is $1,853 a month in Traverse City and $1,277 in Monroe, $6,912 a year more in Traverse City (Zillow, September 2026).
- A typical home is valued at about $419,000 in Traverse City and $270,000 in Monroe.
- The gap is about where it was in 2019 (0.0%).
derived Calculated from BEA Regional Price Parities (2024) and Zillow data. Based on an average household's spending; taxes not included. How we calculate.
Category by category
Both cities against the US average (100). The gap in each row is what matters for a move.
Overall prices are about the same in Monroe and Traverse City
Price level by category, 2024. US average = 100.
- Monroe, MI
- Traverse City, MI
Source: U.S. Bureau of Economic Analysis, Regional Price Parities by metropolitan area, 2024 (US = 100).
Show the numbers
| Monroe, MI | Traverse City, MI | |
|---|---|---|
| All items | 93.5 | 93.4 |
| Goods | 93.7 | 93.7 |
| Housing (rents) | 74.6 | 78.1 |
| Utilities | 93.7 | 92.4 |
| Other services | 99.6 | 99.6 |
| Category | Monroe | Traverse City | Traverse City vs Monroe |
|---|---|---|---|
| All items | 93.5 | 93.4 | −0.1% |
| Goods | 93.7 | 93.7 | 0.0% |
| Housing (rents) | 74.6 | 78.1 | +4.7% |
| Utilities | 93.7 | 92.4 | −1.4% |
| Other services | 99.6 | 99.6 | 0.0% |
| Typical asking rent | $1,277 | $1,853 | +45.1% |
| Typical home value | $270,000 | $419,000 | +55.1% |
| Salary to match $75,000 in Monroe | $75,000 | $74,900 | −0.1% |
Index values: BEA, 2024, US = 100. Rent and home values: Data Provided by Zillow Group, September 2026.
How the gap has changed since 2008
The price gap between Monroe and Traverse City has narrowed since 2008: 10.9 points then, 0.1 now
Overall price level each year, 2008–2024. US average = 100.
- Monroe, MI
- Traverse City, MI
Source: U.S. Bureau of Economic Analysis, Regional Price Parities by metropolitan area, 2024 (US = 100).
Show the numbers
| Monroe, MI | Traverse City, MI | |
|---|---|---|
| 2008 | 96.2 | 85.3 |
| 2009 | 96.4 | 89.4 |
| 2010 | 97.7 | 94.2 |
| 2011 | 98.2 | 88.2 |
| 2012 | 94.1 | 91.7 |
| 2013 | 95.4 | 90.0 |
| 2014 | 96.7 | 90.1 |
| 2015 | 95.6 | 91.2 |
| 2016 | 93.0 | 89.7 |
| 2017 | 93.5 | 88.9 |
| 2018 | 95.3 | 92.7 |
| 2019 | 93.6 | 93.6 |
| 2020 | 93.5 | 90.4 |
| 2021 | 92.0 | 93.4 |
| 2022 | 93.3 | 93.3 |
| 2023 | 93.3 | 90.6 |
| 2024 | 93.5 | 93.4 |
Goods
- Monroe, MI
- Traverse City, MI
Source: U.S. Bureau of Economic Analysis, Regional Price Parities by metropolitan area, 2024 (US = 100).
Show the numbers
| Monroe, MI | Traverse City, MI | |
|---|---|---|
| 2008 | 99.9 | 76.8 |
| 2009 | 102.1 | 84.7 |
| 2010 | 100.4 | 93.4 |
| 2011 | 101.0 | 94.1 |
| 2012 | 99.5 | 95.3 |
| 2013 | 100.0 | 94.7 |
| 2014 | 99.5 | 95.6 |
| 2015 | 98.2 | 96.0 |
| 2016 | 99.1 | 94.4 |
| 2017 | 99.5 | 93.7 |
| 2018 | 97.1 | 97.1 |
| 2019 | 95.9 | 95.9 |
| 2020 | 93.7 | 93.7 |
| 2021 | 94.4 | 94.4 |
| 2022 | 92.1 | 92.1 |
| 2023 | 94.1 | 94.1 |
| 2024 | 93.7 | 93.7 |
Housing (rents)
- Monroe, MI
- Traverse City, MI
Source: U.S. Bureau of Economic Analysis, Regional Price Parities by metropolitan area, 2024 (US = 100).
Show the numbers
| Monroe, MI | Traverse City, MI | |
|---|---|---|
| 2008 | 77.5 | 80.8 |
| 2009 | 77.5 | 84.6 |
| 2010 | 90.0 | 93.4 |
| 2011 | 92.8 | 71.3 |
| 2012 | 74.7 | 79.8 |
| 2013 | 78.5 | 75.0 |
| 2014 | 83.4 | 74.2 |
| 2015 | 86.5 | 84.8 |
| 2016 | 74.5 | 80.5 |
| 2017 | 80.3 | 80.5 |
| 2018 | 86.6 | 78.0 |
| 2019 | 73.9 | 79.5 |
| 2020 | 79.2 | 70.8 |
| 2021 | 71.1 | 81.4 |
| 2022 | 80.7 | 83.8 |
| 2023 | 77.9 | 69.5 |
| 2024 | 74.6 | 78.1 |
Utilities
- Monroe, MI
- Traverse City, MI
Source: U.S. Bureau of Economic Analysis, Regional Price Parities by metropolitan area, 2024 (US = 100).
Show the numbers
| Monroe, MI | Traverse City, MI | |
|---|---|---|
| 2008 | 97.3 | 86.4 |
| 2009 | 106.1 | 92.4 |
| 2010 | 106.2 | 100.6 |
| 2011 | 107.7 | 95.0 |
| 2012 | 109.4 | 98.0 |
| 2013 | 108.9 | 97.3 |
| 2014 | 102.8 | 92.8 |
| 2015 | 103.5 | 93.4 |
| 2016 | 104.3 | 96.6 |
| 2017 | 104.0 | 93.4 |
| 2018 | 100.9 | 97.2 |
| 2019 | 96.9 | 95.7 |
| 2020 | 100.5 | 97.9 |
| 2021 | 101.5 | 98.7 |
| 2022 | 93.1 | 92.4 |
| 2023 | 94.5 | 92.0 |
| 2024 | 93.7 | 92.4 |
Other services
- Monroe, MI
- Traverse City, MI
Source: U.S. Bureau of Economic Analysis, Regional Price Parities by metropolitan area, 2024 (US = 100).
Show the numbers
| Monroe, MI | Traverse City, MI | |
|---|---|---|
| 2008 | 100.2 | 94.5 |
| 2009 | 99.2 | 95.0 |
| 2010 | 98.0 | 94.8 |
| 2011 | 97.4 | 92.5 |
| 2012 | 96.6 | 94.7 |
| 2013 | 97.5 | 93.5 |
| 2014 | 98.8 | 94.1 |
| 2015 | 96.6 | 91.1 |
| 2016 | 94.9 | 90.4 |
| 2017 | 93.4 | 89.7 |
| 2018 | 96.5 | 96.5 |
| 2019 | 98.6 | 98.6 |
| 2020 | 97.8 | 97.8 |
| 2021 | 97.9 | 97.9 |
| 2022 | 98.2 | 98.2 |
| 2023 | 97.7 | 97.7 |
| 2024 | 99.6 | 99.6 |
Rent and home values
Typical asking rent: $1,853 in Traverse City vs $1,277 in Monroe
Typical asking rent for a new lease, dollars per month. Quarterly.
- Monroe, MI
- Traverse City, MI
- United States
Source: Zillow Observed Rent Index (typical asking rent, all homes, smoothed), through September 2026. Data Provided by Zillow Group.
Show the numbers
| Monroe, MI | Traverse City, MI | United States | |
|---|---|---|---|
| Mar 2015 | – | – | $1,145 |
| Jun 2015 | – | – | $1,170 |
| Sep 2015 | – | – | $1,181 |
| Dec 2015 | – | – | $1,182 |
| Mar 2016 | – | – | $1,195 |
| Jun 2016 | – | – | $1,219 |
| Sep 2016 | – | – | $1,225 |
| Dec 2016 | – | – | $1,222 |
| Mar 2017 | – | – | $1,245 |
| Jun 2017 | – | – | $1,270 |
| Sep 2017 | – | – | $1,276 |
| Dec 2017 | – | – | $1,275 |
| Mar 2018 | – | – | $1,296 |
| Jun 2018 | – | – | $1,320 |
| Sep 2018 | – | – | $1,327 |
| Dec 2018 | – | – | $1,329 |
| Mar 2019 | – | – | $1,349 |
| Jun 2019 | – | – | $1,376 |
| Sep 2019 | – | – | $1,383 |
| Dec 2019 | – | – | $1,381 |
| Mar 2020 | – | – | $1,402 |
| Jun 2020 | – | – | $1,406 |
| Sep 2020 | – | – | $1,410 |
| Dec 2020 | – | – | $1,407 |
| Mar 2021 | – | – | $1,443 |
| Jun 2021 | – | – | $1,512 |
| Sep 2021 | $1,043 | – | $1,590 |
| Dec 2021 | $1,062 | – | $1,622 |
| Mar 2022 | $1,102 | – | $1,661 |
| Jun 2022 | $1,107 | $1,454 | $1,721 |
| Sep 2022 | $1,135 | $1,435 | $1,748 |
| Dec 2022 | $1,103 | $1,430 | $1,735 |
| Mar 2023 | $1,091 | $1,473 | $1,757 |
| Jun 2023 | $1,115 | $1,638 | $1,785 |
| Sep 2023 | $1,162 | $1,591 | $1,797 |
| Dec 2023 | $1,144 | $1,528 | $1,786 |
| Mar 2024 | $1,184 | $1,666 | $1,807 |
| Jun 2024 | $1,197 | $1,681 | $1,837 |
| Sep 2024 | $1,208 | $1,661 | $1,845 |
| Dec 2024 | $1,180 | $1,609 | $1,836 |
| Mar 2025 | $1,199 | $1,677 | $1,860 |
| Jun 2025 | $1,219 | $1,756 | $1,880 |
| Sep 2025 | $1,224 | $1,774 | $1,881 |
| Dec 2025 | $1,209 | $1,695 | $1,873 |
| Mar 2026 | $1,205 | $1,785 | $1,894 |
| Jun 2026 | $1,260 | $1,852 | $1,921 |
| Sep 2026 | $1,277 | $1,853 | $1,932 |
Typical home value: $419,000 in Traverse City vs $270,000 in Monroe
Typical home value, dollars. Quarterly.
- Monroe, MI
- Traverse City, MI
- United States
Source: Zillow Home Value Index (typical home value, middle tier, smoothed, seasonally adjusted), through September 2026. Data Provided by Zillow Group.
Show the numbers
| Monroe, MI | Traverse City, MI | United States | |
|---|---|---|---|
| Mar 2015 | $147K | $196K | $189K |
| Jun 2015 | $149K | $197K | $192K |
| Sep 2015 | $152K | $199K | $195K |
| Dec 2015 | $155K | $203K | $199K |
| Mar 2016 | $157K | $207K | $202K |
| Jun 2016 | $157K | $208K | $204K |
| Sep 2016 | $158K | $208K | $206K |
| Dec 2016 | $160K | $211K | $209K |
| Mar 2017 | $163K | $216K | $213K |
| Jun 2017 | $166K | $220K | $216K |
| Sep 2017 | $166K | $223K | $219K |
| Dec 2017 | $167K | $226K | $223K |
| Mar 2018 | $169K | $231K | $227K |
| Jun 2018 | $171K | $234K | $230K |
| Sep 2018 | $175K | $238K | $234K |
| Dec 2018 | $176K | $240K | $236K |
| Mar 2019 | $180K | $243K | $239K |
| Jun 2019 | $183K | $244K | $242K |
| Sep 2019 | $180K | $246K | $244K |
| Dec 2019 | $182K | $250K | $247K |
| Mar 2020 | $184K | $257K | $252K |
| Jun 2020 | $186K | $256K | $255K |
| Sep 2020 | $190K | $261K | $260K |
| Dec 2020 | $199K | $276K | $271K |
| Mar 2021 | $206K | $294K | $282K |
| Jun 2021 | $212K | $315K | $296K |
| Sep 2021 | $212K | $327K | $306K |
| Dec 2021 | $212K | $332K | $314K |
| Mar 2022 | $221K | $347K | $330K |
| Jun 2022 | $231K | $366K | $346K |
| Sep 2022 | $228K | $367K | $348K |
| Dec 2022 | $227K | $366K | $345K |
| Mar 2023 | $227K | $367K | $343K |
| Jun 2023 | $232K | $380K | $347K |
| Sep 2023 | $237K | $388K | $352K |
| Dec 2023 | $239K | $388K | $354K |
| Mar 2024 | $242K | $392K | $357K |
| Jun 2024 | $244K | $398K | $361K |
| Sep 2024 | $244K | $402K | $361K |
| Dec 2024 | $247K | $407K | $363K |
| Mar 2025 | $250K | $407K | $364K |
| Jun 2025 | $251K | $408K | $362K |
| Sep 2025 | $255K | $407K | $362K |
| Dec 2025 | $261K | $410K | $364K |
| Mar 2026 | $266K | $415K | $366K |
| Jun 2026 | $268K | $417K | $365K |
| Sep 2026 | $270K | $419K | $366K |
More about each city
What this comparison leaves out
- Taxes. State and local income, sales and property taxes can change the result a lot, especially between states.
- Neighborhoods. These are metro-wide averages; a city center and its outer suburbs can differ by more than two metros do.
- Your own spending mix. The default uses an average household. Use the housing slider above if rent is a bigger share of your budget.
- Timing. BEA price levels are for 2024; Zillow figures are monthly and newer.