Traverse City

Bike down the trails of Hannah Park in Downtown Traverse City.
Cherry Capital Airport is just a short drive away from Downtown Traverse City.

Traverse City, MI Area Guide

Craft beer and local eats await off Lake Michigan

Bayfront Airport Park-Like Restaurants Urban Suburban Breweries

Traverse City, nestled along Grand Traverse Bay, combines small-town atmosphere with modern conveniences. The rental market offers diverse options, with average rents ranging from $1,276 for studios to $1,904 for three-bedroom homes, showing annual increases between 2-7.8%. Downtown's historic buildings feature apartments and condominiums, while established neighborhoods like Central, Old Towne, and Slabtown offer single-family rental homes and duplexes. The walkable downtown area features independent shops and restaurants, with easy access to entertainment and dining options.

The city's location on Grand Traverse Bay provides year-round recreational opportunities, with the TART trail system connecting neighborhoods to parks and waterfront areas. Northwestern Michigan College and the Interlochen Center for the Arts contribute to the community's educational and cultural landscape. The National Cherry Festival, drawing approximately 500,000 visitors each summer, celebrates the region's agricultural heritage. Waterfront properties typically command higher rents, while inland locations provide more budget-friendly alternatives. The surrounding region's wine country, featuring numerous award-winning wineries, adds to the area's distinctive character. The rental market shows strong activity in the downtown and waterfront districts, where historic buildings have been renovated into contemporary living spaces.

Rent Trends

As of March 2026, the average apartment rent in Traverse City, MI is $1,269 for a studio, $1,549 for one bedroom, $1,833 for two bedrooms, and $2,133 for three bedrooms. Apartment rent in Traverse City has increased by 5.7% in the past year.

Property Type
Average Rent
Average Sq Ft
Apartment
$1,549/month
688 Sq Ft
House
$2,636/month
980 Sq Ft
See Rental Market Trends in Traverse City, MI

Getting Around

Explore how walkable, bikeable, drivable, and transit-friendly Traverse City, MI is for everyday living.

Car-Dependent

39 / 100

This area is considered a car-dependent area and most errands will require a car.

Bikeable

50 / 100

While there’s some bike infrastructure in this area, you’ll still need a car for many errands.

Schools

Woodland School

Public

Grades K-8

Old Mission Peninsula School

Public

Grades PK-5

Grand Traverse Academy

Public

Grades PK-12

Tcaps Montessori School

Public

Grades PK-8

Willow Hill Elementary School

Public

Grades PK-5

Central High School

Public

Grades 6-12

Woodland School

Public

Grades K-8

East Middle School

Public

Grades 6-8

Grand Traverse Academy

Public

Grades PK-12

Tcaps Montessori School

Public

Grades PK-8

Central High School

Public

Grades 6-12

West Senior High

Public

Grades 9-12

Grand Traverse Academy

Public

Grades PK-12

The Greenspire School

Public

Grades 6-12

Traverse City High School

Public

Grades PK & 9-12

Points of Interest

Parks and Recreation

  • Traverse City State Park
  • Grand Traverse Natural Education Reserve
  • Commons Natural Area
  • Miller Creek Nature Reserve
  • Kids Creek Park

Airports

  • Cherry Capital

Top Apartments in Traverse City

Houses for Rent in Traverse City

Property Management Companies in Traverse City, MI

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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 February 2026.