Median Age
45 Years
Largest Age Group
30-39 Years
Approximately 14% of Residents
Under 20
18%
Over 65
25%
Traverse City, MI
Area Guide
Avg Rent
$1,497
Population
16,111
Renter Mix
40% Rent
Craft beer and local eats await off Lake Michigan
Bayfront
•
Airport
•
Park-Like
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
City Opera House is a destination attraction for arts & entertainment in Downtown Traverse City.
Clinch Park has a marina for boating enthusiasts.
Cherry Capital Airport is just a short drive away from Downtown Traverse City.
Bryant Park in Traverse City, Michigan has a small beach adored by locals.
The Little Fleet is home to some excellent food trucks near Boardman.
Shopping and dining in downtown Traverse City are only steps from your door.
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 June 2026, the average apartment rent in Traverse City, MI is $1,465 for a studio, $1,499 for one bedroom, $1,835 for two bedrooms, and $2,295 for three bedrooms. Apartment rent in Traverse City has decreased by -0.9% in the past year.
Property Type
Average Rent
Average Sq Ft
Apartment
$1,499/month
725 Sq Ft
House
$3,209/month
1,294 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-8
351 Students
Public
Grades PK-12
812 Students
Public
Grades PK-5
468 Students
Public
Grades PK-5
362 Students
Public
Grades K-8
212 Students
Public
Grades PK-8
351 Students
Public
Grades 6-8
1,038 Students
Public
Grades PK-12
812 Students
Public
Grades K-8
212 Students
Public
Grades 6-12
1,304 Students
Public
Grades 9-12
1,423 Students
Public
Grades PK-12
812 Students
Public
Grades 6-12
1,304 Students
Public
Grades 9-12
164 Students
Public
Grades 6-12
95 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
Search Nearby Rentals
Nearby City Rentals
Nearby Neighborhood 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 June 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.