Cost of living in Traverse City
Traverse City, located in the picturesque state of Michigan, is known for its vibrant community and beautiful landscapes. Understanding the cost of living in this city is crucial for anyone considering moving here or planning a visit.
This guide provides a detailed breakdown of various expenses you might encounter, from dining and groceries to housing and transportation, helping you make informed financial decisions.
Cost of Living Summary
Dining and Restaurants
- Inexpensive Restaurant Meal - A meal at a casual restaurant will typically cost $17.5 on average, with a range between $12 and $30.
- Mid-Range Restaurant (Three-Course Meal for Two) - For a more upscale dining experience, expect to pay around $50, with prices ranging from $40 to $106.
- Fast Food (e.g., McDonald's) - A McMeal or equivalent combo meal averages $9.5, with a range between $8 and $10.25.
- Beverages (e.g., Domestic Beer, Imported Beer, Cappuccino, Coke/Pepsi) - Domestic beer ranges from $3.5 to $6, imported beer $5 to $7, cappuccino $4 to $7, and Coke/Pepsi $2 to $3.
Grocery Prices
- Milk - Milk is priced between $0.66 and $1.06 per liter, averaging $0.73.
- Bread (Loaf of Fresh White Bread) - A loaf of fresh white bread costs between $1.64 and $5.13, with an average price of $3.05.
- Eggs (Dozen) - A dozen eggs range from $1.5 to $5, averaging $2.5.
- Fruits (e.g., Apples, Oranges) - Apples cost $2.31 to $7.25 per kg, while oranges range from $3.31 to $12.13 per kg.
- Vegetables (e.g., Potatoes, Lettuce) - Potatoes are priced between $1.1 and $4.41 per kg, and lettuce costs $1.25 to $2.5 per head.
Transportation
- Public Transport (One-Way Ticket) - A one-way local transport ticket costs $6.
- Fuel (Gasoline) - Gasoline is priced between $0.77 and $1.13 per liter.
- Car Purchase - A new Volkswagen Golf costs $35,699.74, while a Toyota Corolla is priced at $26,125.82.
Housing Costs
- 1-Bedroom Apartment Rent (City Centre) - Rent for a 1-bedroom apartment in the city centre ranges from $1200 to $1800, averaging $1500.
- 1-Bedroom Apartment Rent (Outside Centre) - Outside the centre, rent ranges from $1000 to $1672, averaging $1224.
- 3-Bedroom Apartment Rent (City Centre) - Rent for a 3-bedroom apartment in the city centre ranges from $3500 to $4000, averaging $3750.
- 3-Bedroom Apartment Rent (Outside Centre) - Outside the centre, rent ranges from $1945 to $2500, averaging $2222.5.
- Buying Price per Square Meter (City Centre) - The price per square meter to buy an apartment in the city centre is $3294.
- Buying Price per Square Meter (Outside Centre) - Outside the centre, the price per square meter is also $3294.
Utilities
- Basic Utilities (Electricity, Heating, Water, etc.) - Basic utilities for an 85m2 apartment cost between $100 and $350, averaging $130.61.
- Internet - Internet services range from $60 to $120, with an average cost of $73.33.
Cost of Living Rankings
The cost of living indices for the United States are compared to New York City (NYC), which serves as the baseline with an index of 100. These provide insights into the relative cost of living in different cities in United States, covering factors like consumer goods, rent, and purchasing power.
Cost of Living Data
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"Key Takeaways"
Traverse City offers a moderate cost of living with relatively affordable housing options compared to larger metropolitan areas.
Dining out can vary significantly in cost, providing options for both budget-friendly and upscale experiences.
Transportation costs are manageable, especially with the availability of public transport and reasonable fuel prices.
Conclusion
In conclusion, Traverse City, MI, presents a balanced cost of living that caters to a variety of lifestyles and budgets.
Whether you're considering a move or planning a visit, understanding these costs can help you budget effectively and enjoy all that this charming city has to offer.