Traverse City, Michigan May Become Unlivable Within 5 Years
There has been a lot of talk recently about the current state of not only the housing market but the renters market. Never in our state's history has rent ever been higher for so little. No matter where you go in Michigan. You’re pretty much going to be paying at least $850 for a one-bedroom apartment.
The housing market seems to be doing well for those who can say the same. If you’re making six figures a year and having children, you don’t need an expert to tell you that they probably aren’t going to be renting an apartment. But for the middle class things are beginning to get more tough, and there may not be a better example of that than Traverse City.
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Is Rent Expensive In Traverse City?
Being connected to the community up there I see just how many arguments take place on the group dedicated to things happening in their city. At least once a week there is another argument that takes place about affordable housing or lack thereof in Traverse City.
The housing market itself doesn’t seem to be the issue, but rather the renting situation. There seems to be a lot of arguments about apartment, living in the prices it costs that makes one assume that Traverse City will be unlivable for people of the lower middle class in the next five years.
Why Is Rent So Expensive In Traverse City?
I was always led to believe that apartments were cheaper so that you could save up an eventually afford to put a down payment on a house. But apartments have become so expensive. They cost just as much, if not more than a mortgage payment, so you’re never able to save up for anything.
Will Traverse City be unlivable for the lower and lower middle class in the next five years? That all depends on those who have apartments and how much they decide to rent them out for in an already high-cost-of-living resort town.
The Colorful Adventure of Finding Traverse City's Hippy Tree
Gallery Credit: TSM Mark Frankhouse