What is the median rent in Traverse City, MI?

Name: Median rent in Traverse City, MI, 2020–2024
Creator: US Census Bureau
License: https://www.census.gov/data/developers/about/terms-of-service.html

The median gross rent in Traverse City, MI is $995 (±$97) a month, according to the US Census Bureau’s 2020–2024 American Community Survey.

That is across 2,501 rented homes; gross rent is the contract rent plus the utilities and fuels a renter pays separately.

In Traverse City, the median gross rent went from $905 in 2015–2019 to $995 in 2020–2024 (+9.9%).

Prices (CPI-U) rose 22.7% over the same years, so it rose more slowly than prices: a measurable decrease after inflation.

Figures last updated on November 12, 2026.

Median gross rent: $995 (±$97)
Rented homes: 2,501 (±398)
$2,000 or more: 12.1%
Since 2015–2019: +9.9%

How much rent costs in Traverse City

Share of rented homes in each gross-rent range, 2020–2024
Monthly gross rent	Traverse City	Grand Traverse County	Michigan	United States
Less than $500	16.2% (±5.8 points)	10.0%	8.3%	6.3%
$500 to $999	34.7% (±7.8 points)	22.5%	30.1%	20.2%
$1,000 to $1,499	25.2% (±6.6 points)	32.2%	38.4%	28.1%
$1,500 to $1,999	11.8% (±4.9 points)	25.7%	15.1%	21.1%
$2,000 to $2,499	6.9% (±3.9 points)	6.6%	5.0%	12.0%
$2,500 to $2,999	2.7% (±2.5 points)	1.5%	1.4%	5.5%
$3,000 or more	2.5% (±2.1 points)	1.4%	1.7%	6.8%

The most common range is $500 to $999, paid by 34.7% of renting households.

12.1% of rented homes in Traverse City cost $2,000 or more a month.

Traverse City against Grand Traverse County, its state and the nation

Estimate (90% margin of error)
	Traverse City	Grand Traverse County	Michigan	United States
Median gross rent	$995 (±$97)	$1,288 (±$65)	$1,129 (±$4)	$1,413
Rented homes paying rent	2,501 (±398)	8,668 (±669)	1,032,697 (±7,764)	42,849,984

In Traverse City, median gross rent is lower than in Grand Traverse County ($1,288).

It is also lower than in Michigan ($1,129).

It is lower than the national figure ($1,413).

In Grand Traverse County, Traverse City ranks 10 of 11 places with a published estimate, from highest to lowest median gross rent.

Statewide, it ranks 578 of 1,305.

Rankings use the estimates alone; where margins of error overlap, neighboring ranks may not truly differ.

How rent in Traverse City has changed since 2015–2019

2015–2019 and 2020–2024 American Community Survey 5-year estimates
	2015–2019	2020–2024	Amount of change	Verdict
Median gross rent	$905 (±$47)	$995 (±$97)	+9.9%	Down after inflation
Households that rent	38.0% (±3.4 points)	36.3% (±5.0 points)	−1.7 percentage points	Not a measurable change
Rental vacancy rate	4.7% (±3.7 points)	10.4% (±5.2 points)	+5.7 percentage points	Not a measurable change

The Census Bureau publishes 2015–2019 dollars in 2019 dollars and 2020–2024 dollars in 2024 dollars.

Prices (the CPI-U, US Bureau of Labor Statistics) rose 22.7% between 2019 and 2024, so a dollar figure’s verdict compares the two after raising the earlier one by that much, using the Census Bureau’s test for a difference.

The two periods do not overlap, as the Census Bureau recommends for 5-year estimates.

Median gross rent in places near Traverse City

Nearest places with a published estimate, compared with Traverse City
Place	Distance	Median gross rent	Compared with this place
Traverse City	—	$995 (±$97)	—
Garfield Charter Township	2.5 mi	$1,405 (±$73)	Higher
Greilickville	4.6 mi	$1,859 (±$583)	Higher
Elmwood Charter Township	5.7 mi	$1,660 (±$350)	Higher
East Bay Township	6.0 mi	$1,517 (±$192)	Higher
Acme Township	7.4 mi	$1,490 (±$263)	Higher
Long Lake Township	7.7 mi	$1,507 (±$259)	Higher
Blair Township	8.8 mi	$1,332 (±$79)	Higher
Solon Township (Leelanau County)	9.5 mi	$1,045 (±$483)	Not measurably different

Nearby places with a measurably higher figure: Garfield Charter Township, MI ($1,405), Greilickville, MI ($1,859), Elmwood Charter Township, MI ($1,660).

Distance is measured in a straight line between the Census Bureau’s internal points for each place.

Median gross rent across Grand Traverse County, place by place

Rank	Place	Median gross rent
4	Fife Lake Township	$1,500 (±$268)
5	Acme Township	$1,490 (±$263)
6	Garfield Charter Township	$1,405 (±$73)
7	Grant Township (Grand Traverse County)	$1,344 (±$754)
8	Blair Township	$1,332 (±$79)
9	Paradise Township	$1,080 (±$114)
10	Traverse City	$995 (±$97)
11	Mayfield Township (Grand Traverse County)	$942 (±$110)

Showing 8 of 11 places in Grand Traverse County, ranked from highest to lowest.

Survey years: 2020–2024 (American Community Survey 5-year estimates), compared with 2015–2019.

Margins of error are at the 90% confidence level.

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Questions about Traverse City

What is the average rent in Traverse City, MI?

The Census Bureau publishes the median rather than the average: the median gross rent in Traverse City is $995 (±$97) a month (2020–2024 American Community Survey), so half of renting households pay less and half pay more.

How much has rent gone up in Traverse City?

In Traverse City, the median gross rent went from $905 in 2015–2019 to $995 in 2020–2024 (+9.9%).

Prices (CPI-U) rose 22.7% over the same years, so it rose more slowly than prices: a measurable decrease after inflation.

How many rentals in Traverse City cost more than $2,000 a month?

12.1% of rented homes in Traverse City have a gross rent of $2,000 or more a month, and 16.2% cost less than $500.

Is rent in Traverse City higher than in Grand Traverse County?

In Traverse City, median gross rent is lower than in Grand Traverse County ($1,288).

It is also lower than in Michigan ($1,129).

It is lower than the national figure ($1,413).

Is this the rent for an apartment listed today?

No: these are rents households reported paying across 2020–2024, not asking rents for vacant homes, which usually run higher.

Sources

To check these figures in the Census Bureau’s own API, request the variables below from the 2024 ACS 5-year data profile (acs/acs5/profile) for Traverse City city, Michigan (place:80340, in state:26).

Each estimate (E or PE) has a margin of error beside it (M or PM).

The 2015–2019 figures are B25064_001E, B25064_001M, DP04_0047PE, DP04_0047PM, DP04_0005E, DP04_0005M from the 2019 release.

The API needs a free key.

Request a Census API key.

DP04_0134E, DP04_0134M, DP04_0126E, DP04_0126M, DP04_0127PE, DP04_0127PM, DP04_0128PE, DP04_0128PM, DP04_0129PE, DP04_0129PM, DP04_0130PE, DP04_0130PM, DP04_0131PE, DP04_0131PM, DP04_0132PE, DP04_0132PM, DP04_0133PE, DP04_0133PM

This product uses the Census Bureau Data API but is not endorsed or certified by the Census Bureau.

Figures are published by the US Census Bureau, HUD, the Bureau of Labor Statistics and the FBI; Seayora reproduces them and does not adjust them, except where a sentence says it compares dollar figures after inflation. They describe the whole place, not any one building or street, and are not an appraisal, a rent determination, a tax bill, a safety rating or legal advice.