Median Age
45 Years
Largest Age Group
30-39 Years
Approximately 14% of Residents
Under 20
18%
Over 65
25%
Traverse City
Traverse City, MI Area Guide
Avg Rent
$1,538
Population
16,111
Renter Mix
40% Rent
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.
Explore the City
Clinch Park has a marina for boating enthusiasts.
Welcome to Downtown Traverse City.
City Opera House is a destination attraction for arts & entertainment in Downtown Traverse City.
Cherry Capital Airport is just a short drive away from Downtown Traverse City.
The Little Fleet is home to some excellent food trucks near Boardman.
Bryant Park in Traverse City, Michigan has a small beach adored by locals.
Demographics
Median Household Income
$61,300
Average: $79,102
Education
6,772
Residents Have a Degree
Job Market
7,947
Workers Employed
Age Distribution
Get a sense of this area's population profile.
Housing Distribution
Traverse City has more homeowners than renters.
Renters
40%
Non-Renters
60%
Education Distribution
Review this city's overall education levels.
Bachelor's or Higher
36%
Other Education
64%
Rent Trends
As of April 2026, the average apartment rent in Traverse City, MI is $1,458 for a studio, $1,539 for one bedroom, $1,861 for two bedrooms, and $2,187 for three bedrooms. Apartment rent in Traverse City has increased by 1.7% in the past year.
Property Type
Average Rent
Average Sq Ft
Apartment
$1,539/month
680 Sq Ft
House
$3,274/month
1,234 Sq Ft
Getting Around
Explore how walkable, bikeable, drivable, and transit-friendly Traverse City, MI is for everyday living.
Fairly Walkable
Walkability
50
/ 100
Some Public Transit
Transit
40
/ 100
Exceptionally Drivable
Drivability
100
/ 100
Moderately Bikeable
Bikeability
70
/ 100
Scores provided by
Schools
Public
Grades PK-12
787 Students
Public
Grades PK-8
307 Students
Public
Grades K-8
206 Students
Public
Grades PK-5
152 Students
Public
Grades PK-5
516 Students
Public
Grades 6-12
1,387 Students
Public
Grades PK-12
787 Students
Public
Grades 6-8
786 Students
Public
Grades PK-8
307 Students
Public
Grades K-8
206 Students
Public
Grades 6-12
1,387 Students
Public
Grades 9-12
1,509 Students
Public
Grades PK-12
787 Students
Public
Grades 9-12
125 Students
Public
Grades 6-12
120 Students
School data provided by
The GreatSchools Rating helps parents compare schools within a state based on a variety of school quality indicators and provides a helpful picture of how effectively each school serves all of its students. Ratings are on a scale of 1 (below average) to 10 (above average) and can include test scores, college readiness, academic progress, advanced courses, equity, discipline and attendance data. We also advise parents to visit schools, consider other information on school performance and programs, and consider family needs as part of the school selection process.
View GreatSchools Rating Methodology
Data provided by
GreatSchools.org
© 2026. All rights reserved.
The GreatSchools Rating helps parents compare schools within a state based on a variety of school quality indicators and provides a helpful picture of how effectively each school serves all of its students. Ratings are on a scale of 1 (below average) to 10 (above average) and can include test scores, college readiness, academic progress, advanced courses, equity, discipline and attendance data. We also advise parents to visit schools, consider other information on school performance and programs, and consider family needs as part of the school selection process.
View GreatSchools Rating Methodology
Data provided by
GreatSchools.org
© 2026. All rights reserved.
Points of Interest
Shopping Centers
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
Colleges
Top Apartments in Traverse City
Houses for Rent in Traverse City
Property Management Companies in Traverse City, MI
KMG Prestige
-
68
Communities
-
7,375
Units
-
45
Cities
5 Communities in Traverse City
Woda Cooper Companies
-
64
Communities
-
3,848
Units
-
52
Cities
2 Communities in Traverse City
Monarch Investment and Management Group
-
320
Communities
-
78,002
Units
-
146
Cities
1 Community in Traverse City
Edward Rose & Sons
-
136
Communities
-
69,964
Units
-
84
Cities
1 Community in Traverse City
DTN Management
-
41
Communities
-
6,398
Units
-
21
Cities
1 Community in Traverse City
MHT Housing Inc.
-
35
Communities
-
4,348
Units
-
19
Cities
1 Community in Traverse City
Search Nearby Rentals
Nearby Neighborhood Rentals
Nearby House Rentals
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.
Demographic information comes from Neustar and combines detailed address data with U.S. Census and American Community Survey statistics to produce reliable local estimates.