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 |
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.