HousingHandbookReference data

U.S. ZIP Code · MI49635

Benzie County · Traverse City, MI

Typical home value

$509,548[1]

Zillow Home Value Index, as of April 2026

Appreciation

1-year
+5.4%
5-year / yr
+8.1%
10-year / yr
+6.6%

Relative price

vs U.S.
+79.4%
vs metro
+18.5%
vs state
+113.1%
ZIP 49635 location in MI
Location of ZIP 49635 in MI

Price history

Zillow Home Value Index — monthly, smoothed and seasonally adjusted.

The typical home in 49635 is worth $509,548 — 18.5% above the Traverse City, MI median. Over the past year, values have risen 5.4%. The effective property tax rate is 0.8%.

#Rent & investment

Typical asking rent, and the returns it implies at the current home value.

Monthly rent
[2]
Gross yield
[2]
Cap rate
[2]

#Property tax

Effective rate — total real estate taxes paid relative to total home value.

Effective tax rate
0.8%[3]
Typical annual tax
$4,117[3]

#Climate risk

FEMA National Risk Index ratings for Benzie County. "Not Applicable" means the hazard does not threaten the county.

Overall risk
Very Low[4]
Riverine flood
Relatively Low
Coastal flood
Very Low
Wildfire
Very Low
Drought
No Rating
Heat wave
Very Low
Hurricane
Very Low
Tornado
Very Low
Earthquake
Very Low
Winter weather
Relatively High

#Who lives here

Population
3,339[3]
Median household income
$72,422[3]

#Migration

Household moves in and out of Benzie County over a year, from IRS tax-return data.

Net migration
+93[5]
Moved in
639
Moved out
546

Schools

Open public schools in this ZIP, from the NCES Common Core of Data.

Public schools
2
Elementary
1
Middle
0
High
1
  • Frankfort High School

    High · Grades 6–12 · Frankfort-Elberta Area Schools

    250 students

  • Frankfort Elementary School

    Elementary · Grades PK–5 · Frankfort-Elberta Area Schools

    234 students

Run the numbers

Interactive calculators pre-filled with this ZIP's typical home value, rent, and property-tax rate. Edit any field to recompute.

Gross yield
Net yield (after ~40% expenses)
Annual rent

Gross and net yield are estimates based on the inputs and the selected expense ratio. Actual income and expenses will vary by property and market. Not investment advice.

Monthly payment$2,577
Loan principal$407,639
Down payment$101,910
Total interest paid$519,921

Estimated monthly payments include principal and interest only. Actual costs will include property tax, insurance, possibly PMI, and HOA fees not modeled here. Loan terms shown are estimates; consult a licensed lender for current rates and qualification.

Own : rent ratio
Monthly cost to own$3,345
Monthly rent

This calculator projects multi-year scenarios based on assumptions about appreciation, rent growth, and investment returns — none of which are guaranteed. Actual outcomes depend on variables this tool cannot know. Not financial or real estate advice.

#Metro ranking

Where this ZIP sits among others in its metro area.

Appreciation
93rd percentile[1]
Rental yield
[2]
Property tax
73rd percentile[3]

Frequently asked

How much is a home worth in ZIP code 49635?
The typical home in 49635 is worth $509,548, based on the Zillow Home Value Index.
Are home values rising in 49635?
Home values in 49635 are up 5.4% over the past year, and up 8.1% a year over five years.
What is the property tax rate in 49635?
The effective property tax rate in 49635 is 0.8% — roughly $4,117 a year on a typical home.
Who lives in 49635?
ZIP code 49635 has a population of 3,339 and a median household income of $72,422.

#Comparable ZIPs

Same metro, nearest typical home value. Each card shows the comparable ZIP's headline numbers so you can scan at a glance.

  • Greilickville CDP, MI

    Typical home
    $515,917
    Gross yield
  • Greilickville CDP, MI

    Typical home
    $480,005
    Gross yield
    5.0%
  • MI

    Typical home
    $473,525
    Gross yield
  • MI

    Typical home
    $439,746
    Gross yield
  • Chums Corner CDP, MI

    Typical home
    $431,273
    Gross yield
    5.1%
  • Beulah, MI

    Typical home
    $428,953
    Gross yield

Want similar ZIPs from outside this metro? Browse nationally similar ZIPs →

Compare ZIPs

Pit ZIP 49635 against any other ZIP — full side-by-side table.

Compare 49635

#Jump to section