How much is a home worth in ZIP code 49684?

The typical home in 49684 is worth $480,005, based on the Zillow Home Value Index.

Are home values rising in 49684?

Home values in 49684 are up 0.3% over the past year, and up 6.4% a year over five years.

What is the typical rent in 49684?

A typical home in 49684 rents for about $2,010 a month, a gross rental yield of 5.0%.

What is the property tax rate in 49684?

The effective property tax rate in 49684 is 0.9% — roughly $4,289 a year on a typical home.

ZIP code 49684 has a population of 21,585 and a median household income of $80,788.

HousingHandbookReference data

…

U.S. ZIP Code · MI49684

Leelanau County · Traverse City, MI

Typical home value

$480,005^[1]

Zillow Home Value Index, as of April 2026

Appreciation

1-year: +0.3%
5-year / yr: +6.4%
10-year / yr: +7.2%

Relative price

vs U.S.: +69.0%
vs metro: +11.6%
vs state: +100.8%

Price history

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

The typical home in 49684 is worth $480,005 — 11.6% above the Traverse City, MI median. Over the past year, values have risen 0.3%. Homes here rent for a typical $2,010 a month — a 5.0% gross rental yield. The effective property tax rate is 0.9%.

#Rent & investment

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

Monthly rent: $2,010^[2]
Gross yield: 5.0%^[2]
Cap rate: 3.0%^[2]

#Property tax

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

Effective tax rate: 0.9%^[3]
Typical annual tax: $4,289^[3]

#Climate risk

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

Overall risk: Relatively 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: 21,585^[3]
Median household income: $80,788^[3]

#Migration

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

Net migration: +19^[5]
Moved in: 762
Moved out: 743

Schools

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

Public schools: 7
Elementary: 3
Middle: 1
High: 2

West Middle School
Middle · Grades 6–8 · Traverse City Area Public Schools
1,108 students
Central Grade School
Elementary · Grades PK–6 · Traverse City Area Public Schools
537 students
Willow Hill Elementary School
Elementary · Grades PK–5 · Traverse City Area Public Schools
444 students
TCAPS Montessori School
Elementary · Grades PK–8 · Traverse City Area Public Schools
297 students
The Greenspire High School
High · Grades 9–12 · The Greenspire School
151 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.

Home value$Monthly rent$

Gross yield5.0%

Net yield (after ~40% expenses)3.0%

Annual rent$24,119

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.

Home price$Down payment%Interest rate%Loan termyears

Monthly payment$2,427

Loan principal$384,004

Down payment$96,001

Total interest paid$489,776

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.

Home price$Monthly rent$Down payment%Mortgage rate%Property tax rate% / yrMaintenance% / yrRule of thumb: 1% of home value per year.

Own : rent ratio1.58

Monthly cost to own$3,183

Monthly rent$2,010

Renting is meaningfully cheaper month-to-month.

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: 26th percentile^[1]
Rental yield: 0th percentile^[2]
Property tax: 100th percentile^[3]

Frequently asked

How much is a home worth in ZIP code 49684?: The typical home in 49684 is worth $480,005, based on the Zillow Home Value Index.
Are home values rising in 49684?: Home values in 49684 are up 0.3% over the past year, and up 6.4% a year over five years.
What is the typical rent in 49684?: A typical home in 49684 rents for about $2,010 a month, a gross rental yield of 5.0%.
What is the property tax rate in 49684?: The effective property tax rate in 49684 is 0.9% — roughly $4,289 a year on a typical home.
Who lives in 49684?: ZIP code 49684 has a population of 21,585 and a median household income of $80,788.

#Comparable ZIPs

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

49690 vs 49684 →
MI
Typical home
$473,525
Gross yield
—
49635 vs 49684 →
Frankfort, MI
Typical home
$509,548
Gross yield
—
49621
Greilickville CDP, MI
Typical home
$515,917
Gross yield
—
49696
MI
Typical home
$439,746
Gross yield
—
49685
Chums Corner CDP, MI
Typical home
$431,273
Gross yield
5.1%
49617
Beulah, MI
Typical home
$428,953
Gross yield
—

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#Jump to section

U.S. ZIP Code · MI49684

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