Traverse County

Minnesota · 3,130 residents (2025 est.)

FHFA annual index 2003–2024Developmental county indexPermits through August 2026

Traverse County (100 = first year)United States, rebased to the same startNBER recession

FHFA notes: The FHFA HPI is a broad measure of the movement of single-family house prices. The FHFA HPI is a weighted, repeat-sales index, meaning that it measures average price changes in repeat sales or refinancings on the same properties. FHFA describes its county indexes as developmental and subject to revision. The index does not give a dollar value for any home.

FHFA's index for Traverse County, Minnesota, starts in 2003 and stood at 241 in 2024, +140.8% above its base of 100. FHFA's most recent value for this area is for 2024, so every span here ends in 2024.

Over the ten years to 2024 the index rose +72.9% (+5.6% a year), close to Minnesota at +72.4% and well below the national +87.9%. The latest one-year change is —.

After a 2007 peak the index fell −10.9% to 2012 and regained the peak in 2014.

Builders were authorised for 5 housing units in the county in the 12 months to August 2026 (−28.6% on the previous 12 months), 1.6 units per 1,000 residents; 100% were single-family houses. Since 1995 the county has authorised 246 units, most in 2021.

—1 year, 2023–2024Minnesota +3.7%

+59.7%5 yearsUS +47.2%

+72.9%10 years+5.6% a year annualised

—since 2000US +151.2%

5units permitted, 12 months1.6 per 1,000 residents

Same span, four levels

Change in the FHFA index	Traverse County	Metro area	Minnesota	United States
1 year (2023–2024)	—	—	+3.7%	+4.9%
5 years (2019–2024)	+59.7%	—	+36.7%	+47.2%
10 years (2014–2024)	+72.9%	—	+72.4%	+87.9%
20 years (2004–2024)	+112.3%	—	+64.3%	+95.7%
Since 2000	—	—	+120.4%	+151.2%
Since 2003	+140.8%	—	+78.8%	+113.6%
10-year annualised	+5.6%	—	+5.6%	+6.5%
20-year annualised	+3.8%	—	+2.5%	+3.4%

All columns are FHFA annual all-transactions indexes over the same years.

Decade by decade

Decade	Change		United States
2010s (2010–2020)	+30.7%		+35.5%
2020s so far (2020–2024)	+48.8%		+42.9%

FHFA reports each index with a value of 100 in its base period, the first year the area has enough transactions (2003 here). A decade's change is the index at the end of the decade divided by the index at the start, so it does not depend on the base year; the United States column covers the same years. Decades before 2003 are not shown.

Peak-to-low declines

Peak	Low	Decline	Peak regained
2007	2012	−10.9%	2014
2014	2015	−5.7%	2016

Building permits

Housing units authorised by building permits in Traverse County, by month over the latest five years and by year since 1995.

Housing units authorised in Traverse County by month, latest 12 monthssingle-family2+ unit buildings

Housing units authorised in Traverse County by month, latest 60 monthssingle-family2+ unit buildings

Housing units authorised in Traverse County by year, 1995–2025single-family2+ unit buildings

Permits, 12 months to August 2026	Traverse County	Minnesota	United States
Housing units authorised	5	22,158	1,418,086
Units per 1,000 residents	1.6	3.8	4.1
Single-family share	100%	58%	63%
Change on previous 12 months	−28.6%	+2.8%	−0.1%
Units authorised since 1995	246	779,606	43,082,761

Population is the Census Bureau's vintage 2025 estimate. Permits authorise construction; they are not completions.

ZIP codes in Traverse County

Ranked by ten-year change in the FHFA ZIP index. Where a ZIP's index ends before 2024, its spans end in that year.

ZIP	1 year	10 years	Since 2000	Index through	Years
56296	+3.0%	+47.5%	—	2021	17

Questions and answers

How much have home values in Traverse County risen over 10 years?

The FHFA index for Traverse County rose +72.9% from 2014 to 2024, about +5.6% a year. Over 20 years: +112.3%; since 2000: —.

How does Traverse County compare with Minnesota and the United States?

Over the ten years to 2024: Traverse County +72.9%, Minnesota +72.4%, United States +87.9%.

What happened to Traverse County prices in 2008?

The index peaked in 2007 and fell −10.9% to 2012; it passed the peak again in 2014. The state index fell −22.1% over 2006–2012.

How many homes are being built in Traverse County?

5 housing units were authorised by building permits in the 12 months to August 2026 (5 single-family, 0 in buildings of five or more units), or 1.6 per 1,000 residents against 3.8 for Minnesota.

Where does this data come from?

The index is FHFA's annual county house price index (all-transactions, developmental), last updated March 31, 2026, with values through 2024. Permits are from the Census Bureau Building Permits Survey through August 2026; population is the Census Bureau's vintage 2025 estimate.

Provenance

Index: Federal Housing Finance Agency, annual house price index for counties (all-transactions, developmental), last updated March 31, 2026, values 2003–2024; metro, state and national comparisons from FHFA's annual indexes in the same release. Permits: Census Bureau Building Permits Survey, county and place files, through August 2026. Population: Census Bureau vintage 2025 estimates. ZIP assignment: 2020 ZCTA-to-county relationship file. Public domain throughout. Corrections · FHFA HPI datasets · Building Permits Survey.