Rent in Traverse City, MI
Across Traverse City's 4 ZIP codes, a 2-bedroom typically rents for about $1,323 a month, with figures from $1,227–$1,623. The highest typical rent is in 49685 ($1,623) and the lowest in 49686 ($1,227). Owner-occupied homes in Grand Traverse County pay about 0.89% of their value a year in property tax, and the 30-year fixed mortgage rate averaged 7.32% in the week of Oct 22, 2026.
Rent by bedrooms
| Size | Typical | Range across ZIPs | ZIPs |
|---|---|---|---|
| Studio | $1,181 | $978–$1,181 | 4 |
| 1 bed | $1,193 | $937–$1,658 | 4 |
| 2 beds | $1,323 | $1,227–$1,623 | 4 |
| 3 beds | $1,597 | $1,298–$1,883 | 4 |
| 4 beds | $1,928 | $1,928 | 4 |
Typical = median of each ZIP's best guess. Gross rent (rent plus tenant-paid utilities). Sources: Census ACS 5-year median gross rent (Dec 31, 2024) and HUD county Fair Market Rents (Oct 1, 2026).
Traverse City ZIP codes
2 bedsFrequently asked questions
- What is the average rent for a 2-bedroom in Traverse City, MI?
- About $1,323 a month: the median of the typical rents in 4 ZIP codes, which range from $1,227–$1,623. Figures are gross rent (rent plus tenant-paid utilities).
- What is the average rent for a 1-bedroom in Traverse City, MI?
- About $1,193 a month: the median of the typical rents in 4 ZIP codes, which range from $937–$1,658. Figures are gross rent (rent plus tenant-paid utilities).
- What is the average rent for a 3-bedroom in Traverse City, MI?
- About $1,597 a month: the median of the typical rents in 4 ZIP codes, which range from $1,298–$1,883. Figures are gross rent (rent plus tenant-paid utilities).
- What is the average rent for a studio in Traverse City, MI?
- About $1,181 a month: the median of the typical rents in 4 ZIP codes, which range from $978–$1,181. Figures are gross rent (rent plus tenant-paid utilities).
- What is the average rent for a 4-bedroom in Traverse City, MI?
- About $1,928 a month: the median of the typical rents in 4 ZIP codes, which range from $1,928. Figures are gross rent (rent plus tenant-paid utilities).
- Which Traverse City ZIP code has the highest rent?
- For a 2-bedroom, 49685 has the highest typical rent at $1,623 a month, and 49686 the lowest at $1,227.
- What is the property tax rate in Traverse City, MI?
- Owner-occupied homes in Grand Traverse County pay a typical 0.89% of their value a year (Census ACS, median taxes paid ÷ median home value, Dec 31, 2024). Investors often pay more after a purchase: the home is reassessed at the sale price and there is no homestead exemption.
- What is the current 30-year mortgage rate?
- The 30-year fixed rate averaged 7.32% in the week of Oct 22, 2026 (Freddie Mac PMMS via FRED). It's a national average for owner-occupied loans; investment property loans usually cost more.
- Where do these Traverse City rent figures come from?
- Census ACS 5-year median gross rent (Dec 31, 2024) and HUD county Fair Market Rents (Oct 1, 2026).