Eagle Ridge Apartment Homes
4760 Golden Eagle Cir,
Traverse City, MI 49685
1-2 Beds | $1,435 - $1,855
Rental Market Trends in Traverse City, MI
What is the average rent in Traverse City, MI?
$1,521/month
Average Rent
698 Sq Ft
Average Apartment Size
+5.6%
Increase in the Last Year
As of July 2025, the average rent in Traverse City, MI is $1,521 per month. For comparison, the national average rent price in the US is currently $1,637/month, which means Traverse City rent prices are 7% lower than the national average. When you rent an apartment in Traverse City, you can expect to pay about $1,398 per month for a studio, $1,521 for a one-bedroom apartment, and around $1,811 for a two-bedroom apartment. If you opt for a three-bedroom rental, you could pay $1,934 or more.
Floor Plan Type
Average Rent
Average Sq Ft
Floor Plan Type
Average Rent
Average Sq Ft
Floor Plan Type
Average Rent
Average Sq Ft
Floor Plan Type
Average Rent
Average Sq Ft
How much has average rent changed in Traverse City, MI?
In the past year, rent has increased by 5.6%, which averages out to $86 more per month.
Market Trends Over Time
The chart below compares average rent prices to the previous year during the same time period.
Last Updated July 2025
Legend
2024
2025
Rent Ranges in Traverse City, MI
Last Updated July 2025
$1,501 - $2,000
Most rental prices fall within this range
Percentage*
Rent Range
3%
Below $700/month
7%
$700 - $1,000/month
28%
$1,001 - $1,500/month
38%
$1,501 - $2,000/month
24%
Above $2,000/month
Rent by Neighborhood
Last Updated Today
What are the most affordable neighborhoods in Traverse City?
Based on current rent prices, Lindcraft, Incochee Woods and Downtown Traverse City are the most affordable neighborhoods in Traverse City.
Neighborhood
Average Rent
Average Sq Ft
What are the most expensive neighborhoods in Traverse City?
Based on current rent prices, Downtown Traverse City, Lindcraft and Incochee Woods are the most expensive neighborhoods in Traverse City.
Neighborhood
Average Rent
Average Sq Ft
Which Traverse City neighborhoods have the most rentals available?
The neighborhoods in Traverse City with the most apartments available are Downtown Traverse City, Lindcraft and Incochee Woods .
Neighborhood
Average Rent
Average Sq Ft
What salary do I need to live comfortably in Traverse City, MI?
Because the average rent in Traverse City is $1,521, you’ll want to make about $5,070 per month or $60,840 per year. The general guideline is to pay no more than 30 percent of your monthly income on rent. However, you’ll want to consider additional factors, such as your monthly bills and other expenses. Use our rent affordability calculator to help determine how much to budget for rent.
How does Traverse City, MI compare to other nearby cities and neighborhoods?
Use the tool below to compare Traverse City, MI to other nearby cities and neighborhoods. The Apartments.com neighborhood guides provide you with insight into the area’s transportation, things to do, and more.
Studio
-
$1,439/month
One Bedroom
-
$1,713/month
Two Bedroom
-
$2,299/month
Three Bedroom
-
$1,416/month
Apartment communities in Traverse City we think you'll love
Property Management Companies in Traverse City, MI
KMG Prestige
-
56
Communities
-
5,811
Units
-
36
Cities
3 Communities in Traverse City
Monarch Investment and Management Group
-
306
Communities
-
74,563
Units
-
141
Cities
1 Community in Traverse City
Edward Rose & Sons
-
140
Communities
-
70,911
Units
-
85
Cities
1 Community in Traverse City
DTN Management
-
42
Communities
-
6,300
Units
-
20
Cities
1 Community in Traverse City
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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.
* Percentages may not total 100 due to rounding.