What is the Best Neighborhoods USA ranking for Oak Park?
Oak Park is ranked #6 of 8 eligible neighborhoods in Traverse City; #209 of 334 eligible neighborhoods in MI; and #10,128 of 14,967 eligible neighborhoods in the United States.
Neighborhood Profile
Oak Park
Traverse City, MI | Grand Traverse County
Scored premium profile
Best Neighborhoods USA Index
42.8
Stability and Strength
41.6
Value Opportunity
39.2
Momentum
49.7
Score note: Rankings show denominators so users always see the size of the eligible cohort.
| Context | Value |
|---|---|
| Location | Traverse City, MI |
| County | Grand Traverse County |
| National rank | #10,128 of 14,967 |
| State rank | #209 of 334 |
| City rank | #6 of 8 |
| County rank | #6 of 8 |
| National percentile | 32.3 |
| National band | MIDDLE_50_PERCENT |
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Housing and local fundamentals
| Housing and market metrics | Value |
|---|---|
| Current Zillow home value | $505,380 |
| Year-over-year home value change | -0.9% |
| Month-over-month home value change | 0.55% |
| Home value to income ratio | 5.77 |
| Median household income | $87,659 |
| Bachelor's degree or higher | 46.1% |
| Civilian unemployment rate | 17.8% |
| Homeownership rate | 67.1% |
| Housing vacancy rate | 21.0% |
| Rent burden 30% or higher | 54.2% |
How to read this profile
- Ranks are always shown with denominators.
- Momentum reflects both year-over-year and month-over-month housing change.
- Stability and Strength and Value Opportunity are governed composite scores.
- Identity composition is descriptive intelligence and is not a scoring component.
Questions and Answers
Questions About Living in Oak Park
Is Oak Park one of the best neighborhoods in Traverse City?
Oak Park has a Best Neighborhoods USA Index of 42.8 and a city ranking of #6 of 8 eligible neighborhoods in Traverse City.
How much are homes worth in Oak Park?
The current Zillow Home Value Index for Oak Park is approximately $505,380.
Are home values rising or falling in Oak Park?
Zillow neighborhood values changed -0.9% year over year and 0.55% month over month.
What is the Neighborhood Momentum Score for Oak Park?
Oak Park has a Neighborhood Momentum Score of 49.7. Momentum is 70% year-over-year and 30% month-over-month Zillow housing change.
What is the median household income in Oak Park?
The NDS-derived neighborhood median household income is approximately $87,659.
How affordable is Oak Park relative to household income?
The current Zillow home-value-to-household-income ratio is 5.77. Price-to-income affordability is a major Value Opportunity input.
Is Oak Park primarily homeowners or renters?
The NDS-derived homeownership rate is approximately 67.1%.
What is the unemployment rate in Oak Park?
The NDS-derived civilian unemployment rate is approximately 17.8%.
How educated are residents of Oak Park?
Approximately 46.1% of residents age 25 and older are estimated to have a bachelor's degree or higher.
What share of renters in Oak Park face high rent burden?
Approximately 54.2% of the applicable renter-household universe is estimated to spend 30% or more of household income on gross rent.
How does Best Neighborhoods USA score Oak Park?
The overall index combines 40% Stability and Strength, 35% Value Opportunity, and 25% Momentum. Race, ethnicity, and identity composition are not scoring components.
Governed ranking context
How this neighborhood ranks
HMDA Mortgage Intelligence
Neighborhood Mortgage Market
Modeled neighborhood-level mortgage activity allocated from governed HMDA tract data using Zillow neighborhood geometry. These neighborhood values are nonadditive and do not enter the Best Neighborhoods USA Index.
Activity year2024
Estimated applications12
Estimated originations7
Home-purchase applications6
Origination rate59.4%
Home-purchase share51.8%
Average application loan$300,111
Total application loan amount$3,664,576
National application rank#12,046 of 14,874 rankable neighborhoods
Geometry coverage100.0%
Recent trend: Applications 7.8% YoY; originations 6.0% YoY
Mortgage methodology
HMDA is natively reported at tract and other lender-reporting geographies, not Zillow neighborhood or ZIP geography. This module uses the certified NDS HMDA-to-Zillow tract-vintage crosswalk and area-weighted allocation. Rankings require governed geometry coverage. Applicant demographics are excluded. Neighborhood values may overlap and must not be summed to reconstruct ZIP or national totals.