What's the average rent in Traverse City, MI?
Rental Market Trends in Traverse City, MI
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SOURCE: TRULIA DATA
Rental market highlights
As of August 2026, the average rent in Traverse City, MI is $2,300 per month, which is 17% higher than the national average rent of $1,965 per month.
AVERAGE RENT
$2,300
0.0%No change month over month
-4.1%-$99 decrease year-over-year
AVAILABLE RENTALS
111
APARTMENTS
HOUSES
TOWNHOUSES
As of August 2026, apartments are the most affordable rental option in Traverse City, MI at $1,832 per month, while houses are the most expensive at $2,400 per month. Townhomes average $2,000 per month, offering a mid-range alternative for renters.
Average rent by number of bedrooms
| Floor plan type | Average rent |
|---|---|
| 1 Bedroom | $1,666 |
| 2 Bedrooms | $1,900 |
| 3 Bedrooms | $2,408 |
| 4 Bedrooms | $3,145 |
| All | $2,300 |
As of August 2026, the average rent for a 1 bedroom rental in Traverse City, MI is $1,666 per month, followed by $1,900 for a 2 bedroom rental, $2,408 for a 3 bedroom rental, and $3,145 for a 4 bedroom rental.
| Floor plan type | Average rent |
|---|---|
| 1 Bedroom | — |
| 2 Bedrooms | $1,678 |
| 3 Bedrooms | $2,000 |
| 4 Bedrooms | $30,000 |
| All | $2,000 |
As of August 2026, the average rent for a 2 bedroom townhome in Traverse City, MI is $1,678 per month, followed by $2,000 for a 3 bedroom townhome, and $30,000 for a 4 bedroom townhome.
| Floor plan type | Average rent |
|---|---|
| 1 Bedroom | $1,600 |
| 2 Bedrooms | $1,950 |
| 3 Bedrooms | $1,995 |
| 4 Bedrooms | $3,095 |
| All | $1,950 |
As of August 2026, the average rent for a 1 bedroom apartment in Traverse City, MI is $1,600 per month, followed by $1,950 for a 2 bedroom apartment, $1,995 for a 3 bedroom apartment, and $3,095 for a 4 bedroom apartment.
| Floor plan type | Average rent |
|---|---|
| 1 Bedroom | $1,700 |
| 2 Bedrooms | $2,000 |
| 3 Bedrooms | $2,408 |
| 4 Bedrooms | $3,750 |
| All | $2,400 |
As of August 2026, the average rent for a 1 bedroom house in Traverse City, MI is $1,700 per month, followed by $2,000 for a 2 bedroom house, $2,408 for a 3 bedroom house, and $3,750 for a 4 bedroom house.
Average rent trends and rent ranges
Average rent price over time
In the past year, rent has decreased by -8% compared to the previous year, which is a $200 decrease.
This year (2026)
Last year (2025)
Rent distribution
43% of rentals have rent of $1,500-$2,199/month
Rental price range
The price range for rentals is $1,095 to $8,500.
