232 East State St
232 East State St,
Traverse City, MI 49684
$1,500 - $3,000 | Studio - 1 Bed
Downtown Traverse City
Traverse City, MI
Downtown Traverse City - Traverse City, MI
Area Guide
Downtown TC has it all -- with a cherry on top
Walkable
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Bicycle-Friendly
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Lake
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Beach
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Arts
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Culture
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Shops
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Restaurants
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Outdoors
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Parks
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Overlooking Grand Traverse Bay in Northern Michigan, Traverse City is gorgeous -- a lush, green landscape along the sparkling waters of Lake Michigan. It is considered one of the state's top fishing regions, the nation's largest producer of tart cherries, home to spectacular vineyards, beaches and a National Lakeshore, forests, fantastic boating and sailing, and ski areas. Because of everything Traverse City offers, it is considered a top tourist destination -- and an amazing place to live.
The heart of the city, Downtown Traverse City, is a walkable blend of unique shops, art galleries, top-rated restaurants, theaters, and the Downtown Farmers Market. Downtown is home to the largest film festival in the Midwest, the Traverse City Film Festival. Also held downtown, you won't want to miss the National Cherry Festival in July. Be sure to check out the historic City Opera House, built in 1891, or catch a play at the Old Town Playhouse. In the summer, head to Clinch Park and enjoy one of the best beaches in Michigan. The Traverse Area Recreation Trail (TART) is seven miles long and extends through Downtown Traverse City, providing a great way to walk or bicycle around the city.
Rent Trends
As of August 2025, the average apartment rent in Downtown Traverse City is $1,439 for a studio, $1,702 for one bedroom, $2,291 for two bedrooms, and $1,416 for three bedrooms. Apartment rent in Downtown Traverse City has increased by 4.6% in the past year.
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Studio
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162 sq ft
Average Sq Ft
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$1,439/month
Average Rent
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1 BR
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576 sq ft
Average Sq Ft
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$1,702/month
Average Rent
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2 BR
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1,076 sq ft
Average Sq Ft
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$2,291/month
Average Rent
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3 BR
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975 sq ft
Average Sq Ft
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$1,416/month
Average Rent
Transportation
78
Very Walkable
out of 100 WalkScore® Rating
If you enjoy walking, you’ll enjoy renting in this area! It’s a very walkable neighborhood.
85
Very Bikeable
out of 100 BikeScore® Rating
This area is very bikeable. You’ll find a variety of bike paths and lanes.
Points of Interest
Shopping Centers
Parks and Recreation
- Grand Traverse Natural Education Reserve
- Traverse City State Park
- Commons Natural Area
- Kids Creek Park
- Hickory Meadows
Airports
- Cherry Capital
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Methodology
† Our analysis of utilities, groceries, transportation, healthcare, home prices, and other goods and services is sourced from the Cost of Living Index, a respected benchmark published by the Council for Community and Economic Research (C2ER) that provides a thorough overview of living expenses across different regions.
Rent data is provided by CoStar Group’s Market Trend reports. As the industry leader in commercial real estate information, analytics, and news, CoStar conducts extensive research to produce and maintain a comprehensive database of commercial real estate information. We combine this data with public record to provide the most up-to-date rental information available.
Consumer goods, services, and home prices are sourced from the Cost of Living Index published by the Council for Community and Economic Research (C2ER). The data on this page is updated quarterly. It was last published in June 2025.