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Studio Apartment for Rent in Traverse City, MI

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    Starting at $1,199 Per Month

    • Studio

    461 Munson Ave, Traverse City, MI 49686

    NOW TAKING APPLICATIONS for the fall off season rentals. Ask for information on rates and terms. Experience The Vic, where modern comfort meets rustic charm just steps from Grand Traverse Bay and minutes from NMC, downtown's shops, restaurants, and breweries. Our beautifully renovated building offers thoughtfully designed rooms, one complimentary parking space per unit, use of the fitness center,

    Studio's at The Vic

    (231) 943-6398

    461 Munson Ave, Traverse City, MI 49686

Why Live in Traverse City

Traverse City, Michigan, located on the edge of Lake Michigan, is renowned for its natural beauty and as the largest producer of tart cherries in the U.S. With a population of 16,000, the community values its environment and offers a variety of year-round employment opportunities in healthcare, retail, and education. Housing in Traverse City includes early 20th-century homes and properties from a building boom that ended in 1999. Greilickville features New Traditional homes with lakefront views, while Traverse Heights offers ranch-style homes and cottages. The Traverse City Area Public School District serves the area, earning high ratings for its educational quality. The city is a hub for arts and culture, with the Dennos Museum Center and the historic City Opera House providing a range of exhibitions and performances. Traverse City is also known for its culinary scene, with over 50 downtown dining establishments and numerous wineries, breweries, and distilleries. The Sara Hardy Downtown Farmers Market and the Village at Grand Traverse Commons are popular spots for local produce and unique shopping. Outdoor enthusiasts can explore over 30 parks, including the Grand Traverse County Civic Center and Sleeping Bear Dunes National Lakeshore, which offers hiking trails, beaches, and camping sites. Traverse City is well-connected with a walkable downtown, extensive bike trails, and public transportation options, including Cherry Capital Airport. The city experiences moderate summer temperatures and significant snowfall in winter due to its proximity to Lake Michigan.

Frequently Asked Questions

How much does it cost to rent a home in Traverse City, MI?
The median rent for a home in Traverse City, MI is $2,225 per month, though prices vary by neighborhood, size, and property type. As of May 2026, condos tend to be the most affordable option while townhouses and single-family homes are currently more expensive.
How much do you need to make to afford rent in Traverse City, MI?
To comfortably afford the median rent in Traverse City, MI, a household needs to earn roughly $89,000 per year. This is based on the common guideline that households should spend no more than 30% of gross income on housing. Most landlords require monthly household income of at least 3x the monthly rent, and with a median rent of $2,225 per month in Traverse City, MI, renters typically need to show $6,675 per month in gross income to qualify. Actual affordability will vary depending on household debts, other living expenses, and overall budget.
Is it more affordable to rent or buy in Traverse City, MI?
In Traverse City, MI, the price-to-rent ratio is 16.5, which generally favors renting. This ratio divides the median home price by the annual median rent: below 15 typically favors buying, 15 to 20 is balanced, and above 20 typically favors renting. Your finances, how long you plan to stay, and costs like mortgage rates, taxes, and maintenance all factor into the decision.

Rental Home Trends in Traverse City, MI

Rental Home Trends

Number of Homes for Rent
1
Median Rent
$2,225
Median Single Family Home Rent
$2,373
Median Townhouse Rent
$2,100
Median Condo Rent
$2,049
How to Rent a Home