How much is a home worth in ZIP code 49686?

The typical home in 49686 is worth $400,013, based on the Zillow Home Value Index.

Are home values rising in 49686?

Home values in 49686 are up 1.4% over the past year, and up 6.7% a year over five years.

What is the typical rent in 49686?

A typical home in 49686 rents for about $1,971 a month, a gross rental yield of 5.9%.

What is the property tax rate in 49686?

The effective property tax rate in 49686 is 0.8% — roughly $3,297 a year on a typical home.

ZIP code 49686 has a population of 25,492 and a median household income of $71,609.

HousingHandbookReference data

…

U.S. ZIP Code · MI49686

Grand Traverse County · Traverse City, MI

Typical home value

$400,013^[1]

Zillow Home Value Index, as of April 2026

Appreciation

1-year: +1.4%
5-year / yr: +6.7%
10-year / yr: +7.6%

Relative price

vs U.S.: +40.8%
vs metro: -7.0%
vs state: +67.3%

Price history

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

The typical home in 49686 is worth $400,013 — 7.0% below the Traverse City, MI median. Over the past year, values have risen 1.4%. Homes here rent for a typical $1,971 a month — a 5.9% gross rental yield. 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: $1,971^[2]
Gross yield: 5.9%^[2]
Cap rate: 3.5%^[2]

#Property tax

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

Effective tax rate: 0.8%^[3]
Typical annual tax: $3,297^[3]

#Climate risk

FEMA National Risk Index ratings for Grand Traverse 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: Relatively Low
Earthquake: Very Low
Winter weather: Very High

#Who lives here

Population: 25,492^[3]
Median household income: $71,609^[3]

#Migration

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

Net migration: +139^[5]
Moved in: 2,943
Moved out: 2,804

Schools

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

Public schools: 10
Elementary: 3
Middle: 0
High: 3

Central High School
High · Grades 8–12 · Traverse City Area Public Schools
1,324 students
Grand Traverse Academy
Other · Grades PK–12 · Grand Traverse Academy
798 students
Eastern Elementary School
Elementary · Grades PK–5 · Traverse City Area Public Schools
480 students
Traverse Heights Elem School
Elementary · Grades PK–5 · Traverse City Area Public Schools
276 students
Traverse City High School
High · Grades 9–12 · Traverse City Area Public Schools
149 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 yield5.9%

Net yield (after ~40% expenses)3.5%

Annual rent$23,648

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$2,023

Loan principal$320,011

Down payment$80,003

Total interest paid$408,156

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 ratio1.33

Monthly cost to own$2,629

Monthly rent$1,971

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: 33rd percentile^[1]
Rental yield: 100th percentile^[2]
Property tax: 81st percentile^[3]

Frequently asked

How much is a home worth in ZIP code 49686?: The typical home in 49686 is worth $400,013, based on the Zillow Home Value Index.
Are home values rising in 49686?: Home values in 49686 are up 1.4% over the past year, and up 6.7% a year over five years.
What is the typical rent in 49686?: A typical home in 49686 rents for about $1,971 a month, a gross rental yield of 5.9%.
What is the property tax rate in 49686?: The effective property tax rate in 49686 is 0.8% — roughly $3,297 a year on a typical home.
Who lives in 49686?: ZIP code 49686 has a population of 25,492 and a median household income of $71,609.

#Comparable ZIPs

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

49650 vs 49686 →
Hardwood Acres CDP, MI
Typical home
$406,850
Gross yield
—
49676 vs 49686 →
Rapid City CDP, MI
Typical home
$387,783
Gross yield
—
49640
Honor, MI
Typical home
$416,399
Gross yield
—
49617
Beulah, MI
Typical home
$428,953
Gross yield
—
49685
Chums Corner CDP, MI
Typical home
$431,273
Gross yield
5.1%
49643
Bendon CDP, MI
Typical home
$368,349
Gross yield
—

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#Jump to section

U.S. ZIP Code · MI49686

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