Median rent
for residential apartments
in Traverse City, MI
as of May, 2023.
Remember to negotiate your rent according to median rental prices. Also, take into account that the price depends on the size/amenities of the apartment.
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990 Traverse City, MI, USA apartments for rent
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4 Bdrms! Lake Views! Walk to Front! Private Rooftop! JUST BUILT - Downtown!
Traverse City, MI
4
Bed
4
Bath
1,900
Sq Ft
Completely Remodeled Mid-Century Modern Home On West Bay Shore Dr.
Traverse City, MI
2
Bed
2
Bath
1,100
Sq Ft
Leelanau Therapy - Hot Tub / Master Suite w/Jacuzzi Tub / Secluded yet near TC
Traverse City, MI
3
Bed
2
Bath
1,700
Sq Ft
The Ideal Mix of Value, Comfort, and Convenience! Free Parking, Onsite Pool
Traverse City, MI
1
Bed
1
Bath
200
Sq Ft
Last minute discount! Week of June 17! House on Lake Leelanau in Traverse City!
Traverse City, MI
3
Bed
2
Bath
2,000
Sq Ft
Lakemore Resort Gray- New Luxury Lakefront Home w/ private in-ground hot tub
Traverse City, MI
4
Bed
5
Bath
Location! Location! Location! Enjoy nature, Long Lake access, minutes from TC!
Traverse City, MI
3
Bed
3
Bath
1,800
Sq Ft
♛ 539 Bay St ⁀➷ Luxury Downtown 2BDR Lake View 1st Floor Condo on West Bay ➠ 104E
Traverse City, MI
2
Bed
2
Bath
1,750
Sq Ft
Boho BEAUTIFUL 3BR HOME | NEAR DOWNTOWN, BEACH, & WINERIES
Traverse City, MI
3
Bed
2
Bath
1,722
Sq Ft
Budget-Friendly Stay in Knights Inn Traverse City! 2 Convenient Units, Pool
Traverse City, MI
2
Bed
2
Bath
400
Sq Ft
4 Tiny Private Cottages for one rate on West Bay in Traverse City
Traverse City, MI
5
Bed
4
Bath
400
Sq Ft
Traverse City
Traverse City, MI has a population of 15,550, while the median age is 41. The household income in Traverse City, MI is around $53,237. The homeownership rate among the residents is 63%. The median residential property value in Traverse City, MI that you should keep in mind is $216,800.
| Population | 15,550 |
| Median Age | 40.6 |
| Poverty Rate | 10% |
| Household Income | $53,237 |
| Number Of Employees | 8,173 |
| Median Property Value | $216,800 |
Housing Trends
Average apartment rent in Traverse City:
$14,768 (+40.9%)
Rent Price |
May | vs Last Month |
|---|---|---|
| Studio apartments | $10,200 | +49% |
| 1-bed apartments | $6,149 | -7.3% |
| 2-bed apartments | $10,513 | +36.7% |
| 3-bed apartments | $17,553 | +36.7% |
| 4+ bed apartments | $23,366 | +23.5% |
Over the May 2023, the average rent for an apartment in/near Traverse City, MI increased by 40.9% to $14,768.
Compared to the last month, the average price for a rental studio in Traverse City, MI has increased by 49%. You can expect to rent the studio for $10,200 on average this month. Breaking it down in details, we now see that the average price for 1-bed apartment decreased by 7.3% to $6,149. Pricing for 2-bed apartment also increased by 36.7% and a place of this size will now cost you $10,513. 3-bed apartment rent pricing starts at $17,553, it increased by 36.7% lately. We tend to note the rise of 4- and more bed apartment pricing. It increased by 23.5% and made it up to $23,366.
Rent Type Price |
May | vs Last Month |
|---|---|---|
| Townhouses for rent | $14,737 | +40.3% |
| Houses for rent | $16,257 | +27.9% |
| Condos for rent | $14,944 | +85.8% |
| Apartments for rent | $7,157 | +4.4% |
The median rent for an apartment in Traverse City, MI increased by 4.4% to $7,157. Statistics show that house rent price increased by 27.9% this month making it up to $16,257. Condos faced an upward trend these days. The median rent for a condo increased by 85.8%, it’s now available for $14,944. If you’re looking for a room, the price tag still starts at $1,112. The median price did not change this time. The median rent for a townhouse increased by 40.3%, you’ll have to spend around $14,737 to get one.
Rent vs Own
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