How many apartments are available in Traverse City, MI on Rentable.co?

Rentable.co has over 1,143 apartments available in Traverse City.

What is the average rent for a studio apartment in Traverse City, MI?

The average rent for a studio apartment in Traverse City is around $960 per month.

What is the average rent for a one-bedroom apartment in Traverse City, MI?

The average rent for a <a href='/traverse-city-mi/1-bedroom-apartments-for-rent' >one-bedroom apartment</a> in Traverse City is around $1,770 per month.

What is the average rent for a two-bedroom apartment in Traverse City, MI?

The average rent for a <a href='/traverse-city-mi/2-bedroom-apartments-for-rent' >two-bedroom apartment</a> in Traverse City is around $1,500 per month.

How expensive is it to rent an apartment in Traverse City, MI?

For a two-bedroom apartment in Traverse City, the average rent price is $1,500 per month, which is lower than the national average of $1,640 per month.

Can I afford an apartment for rent in Traverse City, MI?

Based on average rent prices in Traverse City, to afford a studio apartment you would need an annual household income of $38,000 to live comfortably.

Apartments in Traverse City

Traverse City:
June Rent Report

Welcome to the June 2025 Traverse City Apartment Report. In this assessment of the local rental market, data scientists and rental experts break down the June 2025 key findings and figures for the Traverse City rental landscape.

Our experts analyze the pricing trends — one-bedroom, two-bedroom, year-over-year and month-over-month — in Traverse City and surrounding areas and provide comparisons to the entire metro area, nearby cities and some of the most desirable and expensive cities in the United States. Take a look at the last 12 months of Traverse City average rent prices in the chart below.

Monthly Rent Report

$2,050

$1,540

$1,030

$510

Jul. 2024

Aug. 2024

Sep. 2024

Oct. 2024

Nov. 2024

Dec. 2024

Jan. 2025

Feb. 2025

Mar. 2025

Apr. 2025

May. 2025

Jun. 2025

1 BR 2 BR

Traverse City Rent Prices Decrease From May to June

Traverse City rent prices decreased over the last month. From May to June, the city experienced a -0.39% decrease for the price of a one-bedroom apartment. The rent price for a Traverse City one-bedroom apartments currently stands at $1,541.0.

When we take a look at the two-bedroom comparison from May to June, Traverse City experienced a 2.08% increase for the price of a two-bedroom apartment. The rent price for a Traverse City two-bedroom apartments currently stands at $1,961.0.

June Prices: Traverse City vs. Surrounding Areas

Rent Prices in Traverse City and Surrounding Areas

Rent prices have decreased in Traverse City over the last month. But how have the surrounding areas fared when it comes to the recent volatility in apartment prices? Rent prices in 0 of the Traverse City suburbs increased last month. On the other hand, 0 local areas experienced a decrease in the price of a one-bedroom apartment.

More key findings include:

Rents did not increase in any of the Traverse City suburbs
Rents did not decrease in any of the Traverse City suburbs.

June 2025 Pricing Trends: Traverse City vs. National Comparisons

New York, NY

San Francisco, CA

Washington, DC

Los Angeles, CA

Chicago, IL

Columbus, OH

Pittsburgh, PA

Minneapolis, MN

$4,101

$3,197

$2,350

$2,316

$1,870

$1,341

$1,263

$1,247

$1,350

$2,700

$4,050

$5,400

Median Rent

Traverse City Rent Prices More Affordable Than Major Cities

Rent growth in Traverse City over the past year has been declining. When compared to major cities nearby, along with some of the most expensive cities in the country, Traverse City average rent prices appear to be relatively affordable for local residents.

The price for a Traverse City one-bedroom apartment remains vastly more affordable than four of the largest cities in the United States — New York City, Washington, D.C. San Francisco and Los Angeles. And pricing compares quite similarly to nearby Midwest cities.

For more information about Traverse City and surrounding area rent prices, take a look at the complete data set below.

Data set for Traverse City and suburbs

	1 BR June	1 BR M/M % Change	2 BR June	2 BR M/M % Change

Methodology

Each month, using over 1 million listings across the United States, we calculate the median 1-bedroom and 2-bedroom rent prices by city, state, and nation, and track the month-over-month percent change. To avoid small sample sizes, we restrict the analysis for our reports to cities meeting minimum population and property count thresholds.