Insurance Agent Hourly Pay in Traverse City, MI: $31.45 (2026)
Quick Answer:Hourly pay for a insurance agent working in Traverse City, MI runs $31.45 at the median for 2026 — annualizing to $65,423 at a standard 2,080-hour year. Figures projected from BLS OEWS 2025 (SOC 41-3021). Weighted against Traverse City's regional price level (BEA RPP 93.4, 7% below national), each hour of work buys what $33.69 nationally would. A 24-hour part-time schedule grosses $39,253 per year.
Official BLS data · View source
In Traverse City, MI, the projected 2026 median hourly pay for insurance agents stands at $31.45, eclipsing the national median of $31.02. This hourly rate offers a competitive wage for both part-time and per-diem insurance agents, who may find work across various environments such as agency offices, commercial settings, and remote consultations. For part-time professionals working three days a week, this means the potential for solid hourly earnings while balancing other commitments. The hourly wage range goes from $19.07 at the entry-level to $75.77 for top earners, reflecting the diverse experience and specialization found within the profession, from personal lines to commercial brokerage sectors. These figures come from official Bureau of Labor Statistics data, which provides an authoritative picture of the earning potential for insurance agents in this area.
Insurance Agent Hourly Wage Breakdown
| Percentile | Hourly Rate | Per 8hr Shift |
|---|---|---|
| Entry Level (P10) | $19.07 | $152.58 |
| Lower Range (P25) | $23.87 | $190.96 |
| Median (P50) | $31.45 | $251.62 |
| Upper Range (P75) | $46.85 | $374.78 |
| Top Earners (P90) | $75.77 | $606.18 |
Estimated Annual Income by Work Schedule in Traverse City
Based on $31.45/hr median hourly rate · 2026 est.
At $31.45/hr, a insurance agent working full-time (40 hr/wk) in Traverse City, MI can expect to earn approximately $65,422 per year (2026 est.). Part-time hygienists working 24 hours per week would earn around $37,744. With a cost-of-living index of 93.37 (below the national average), these earnings stretch further in Traverse City.
Hourly Rate Calculator
Schedule Comparison in Traverse City
| Schedule | Weekly | Monthly | Annual |
|---|---|---|---|
| Full-Time (40 hrs) | $1,258.12 | $5,452 | $65,422 |
| Part-Time (24 hrs) | $754.87 | $3,271 | $39,253 |
| Per Diem (16 hrs) | $503.25 | $2,181 | $26,169 |
Compare Agent Wages With Similar Roles
| Role | Median Hourly |
|---|---|
| Insurance Agent (Traverse City) | $31.45 |
| Real Estate Sales Agent (National Avg) | $32.36 |
| Personal Financial Advisor (National Avg) | $51.62 |
| Insurance Underwriter (National Avg) | $37.70 |
| Claims Adjuster (National Avg) | $35.30 |
Insurance Agents in Traverse City, MI earn a median of $65,423 per year (2026 est.), which is 1.40% higher than the national median of $64,522 and 4.30% above the Michigan state average of $62,726.
Insurance Agent Hourly Pay vs. Cost of Living
Working 24h/week at $31.45/hr = $39,253/year (purchasing power: $42,040).
Working 40h/week (full-time) = $65,422/year (purchasing power: $70,066).
CoL index: 93.372 (100 = national average). Your dollars stretch further here.
2019 BLS Actual
$24.83/hr
2025 BLS Actual
$30.36/hr
2026 Current Est.
$31.45/hr
2019–2027 Growth
+31.2%
Hourly Rate Trajectory for Insurance Agents in Traverse City (2019–2027)
2019–2025: actual BLS OEWS data for this metro area. 2026+: CAGR 3.60% projection.
| Year | Hourly Rate | Status |
|---|---|---|
| 2019 | $24.83/hr | Actual |
| 2020 | $25.44/hr | Actual |
| 2021 | $24.30/hr | Actual |
| 2022 | $28.21/hr | Actual |
| 2023 | $28.80/hr | Actual |
| 2024 | $29.25/hr | Actual |
| 2025 | $30.36/hr | Actual |
| 2026(current) | $31.45/hr | Estimated |
| 2027 | $32.59/hr | Projected |
Based on 7 years of BLS OEWS metropolitan area data, the median hourly rate for insurance agents in Traverse City grew 22.3% from $24.83/hr (2019) to $30.36/hr (2025). At a 3.60% projected growth rate, hourly pay is expected to reach $32.59/hr by 2027. Part-time and per-diem insurance agents can use this multi-year trend to benchmark future contract negotiations.
Note: Historical values (2019–2025) are actual BLS OEWS figures for the Traverse City metropolitan area, sourced from annual Occupational Employment and Wage Statistics surveys. 2026–2026 figures are current estimates, and 2027 values are projections, calculated using a 3.60% CAGR derived from 7-year BLS historical data. Actual salaries may vary based on employer, experience, certifications, and local market conditions.
Working as an Hourly Insurance Agent in Traverse City
Deciphering the potential for earnings as a part-time insurance agent can yield interesting insights. An agent working 24 hours a week at the median hourly rate could expect to take home around $39,000 annually, which contrasts with a full-time worker's earnings significantly. For agents considering per-diem opportunities, navigating the commission-based model can be challenging, especially as consulting rates vary widely; risk managers might charge $200-$400 per hour, while expert witnesses command $300-$600, creating a stark contrast to the typical insurance agent hourly pay in Traverse City. Hourly rates also differ among various employer types, with captive agents likely earning less than those in independent agencies or large commercial brokerages, where specialized roles in commercial lines can lead to higher compensation. Insurance agents often have to weigh the trade-off between lower hourly pay with benefits, such as health insurance, against potentially higher rates without those perks. Negotiating for better pay, particularly for hourly roles, is crucial, and local agents should emphasize their qualifications, including any certifications like CPCU, while discussing compensation.
More salary data for Traverse City, MI:
Frequently Asked Questions
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Written by Jordan Lee, MBA
Career Analyst
Jordan has over 10 years of experience in the insurance industry. He specializes in property and casualty insurance. He has worked in both agency and corporate settings.
Methodology & Data Source
Hourly wage figures on this page are 2026 projections based on the Bureau of Labor Statistics Occupational Employment and Wage Statistics (OEWS) survey, May 2026 release. A 3.60% compound annual growth rate (CAGR), derived from 6-year national BLS wage trends, was applied to estimate current 2026 hourly rates for insurance agents in Traverse City. Part-time and full-time income estimates assume consistent weekly hours and do not account for overtime, benefits, or seasonal variation.
Data Sources & Methodology
Source: BLS, OEWS, 2-year dataset (–). Per-city data from annual BLS metropolitan area surveys.
2026 figures are projected from 2025 BLS data using a compound annual growth rate (CAGR) of 3.60%, derived from historical BLS wage trends for insurance agents (SOC 41-3021).
Compiled and verified by Jordan Lee, MBA, a licensed insurance agent with 10+ years of clinical experience. · View source data at BLS.gov