NAICS 52

Finance and Insurance in Traverse City, MI

Metro Market Score 57.3 (Challenging), ranked #233 of 331 metros. 223 establishments, 2,615 jobs.

Metro Market Assessment

Metro Market Score 57.3
Favorable 0-35
Moderate 35-48
Challenging 48-60
Difficult 60+
Challenging

ⓘ Lower is better. Relative to national finance and insurance average.

Market conditions for finance and insurance in Traverse City are tougher than average. The 57.3 market score reflects a combination of high labor costs, mixed growth signals, and an already crowded field. Rank: #233 of 331 metros.

Industry Concentration
84.3
LQ: 0.94
Rank #279 of 331 metros
Wage Competitiveness
72.8
$102,213 avg wage
Growth Trend
↑ 59.8
Employment growth index
Rank #134 of 331 metros
Wage Pressure
30.1
YoY wage change index

223 Finance and Insurance Firms in Traverse City

223
Establishments
+100.0% YoY
2,615
Total Employment
+0.0% YoY
$102,213
Average Annual Wage
+0.0% YoY
0.94
Location Quotient
Below national avg

Traverse City vs Michigan Statewide

How this metro's finance and insurance market compares to Michigan overall. The state ranks #23/51 for entry risk.

Measure Traverse City MI Statewide
Overall Score 57.3 Challenging 49.8 Elevated
Score Type Metro Market Score Entry Risk Score
Rank #233 of 331 metros #23 of 51 states

Metro and state scores use different methodologies (metro has 4 QCEW-based metrics; state adds BDS survival and momentum data). Direct score comparisons are approximate.

Other Industries in Traverse City

Information 36.9 Real Estate and Rental and Leasing 38.5 Construction 53.7 Retail Trade 61.3 Other Services 62.6

Finance and Insurance in Other Michigan Metros

Monroe 17.3 #2/331 Muskegon-Norton Shores 19.4 #8/331 Battle Creek 24.2 #18/331 Bay City 31.5 #57/331 Midland 41.6 #113/331 Jackson 42.4 #122/331 Niles 44.1 #138/331 Grand Rapids-Wyoming-Kentwood 47.8 #158/331 Lansing-East Lansing 50.5 #176/331 Ann Arbor 52.0 #188/331

+ 4 more metros. View all in Michigan →

About Metro Market Score: A weighted composite of industry concentration (25%), wage competitiveness (25%), wage pressure (20%), and employment growth trend (30%). Lower scores indicate more favorable conditions. For Traverse City's finance and insurance sector, the industry concentration component (84.3) has the strongest pull on the composite. Metro scores use QCEW data only (no BDS survival data at metro level). Read full methodology →

Data Sources

Data period: 2024. Last updated: April 2026.