Low Income Apartments and Affordable Housing For Rent in Traverse City, MI

Discover affordable housing in Traverse City where there are 19+ housing opportunities based on income and household needs like accessible units for seniors or persons with disabilities. Find and apply to these low income apartments now.

Boardman Lake Apartments

2790 Boardman Lake Dr, Traverse City, Michigan 49684

Oak Terrace Apartments

1240 Oak Terrace Dr, Traverse City, Michigan 49686

Oak Park Apartments

1650 Maylane, Traverse City, Michigan 49686

Churchside Village

6105 Center Rd, Traverse City, Michigan 49686

Woodmere Ridge Apartments

927 Woodmere Ave, Traverse City, Michigan 49686

Village Glen Apartments

2937 Glen Dr, Traverse City, Michigan 49686

Bay Hill II

600 Bay Hill Dr, Traverse City, Michigan 49684

Aspen Hills

1291 Oak Terrace Dr, Traverse City, Michigan 49686

Village at Bay Ridge

3850 Scenic Ridge, Traverse City, Michigan 49684

Tradewinds Terrace

851 Fitzhugh Dr, Traverse City, Michigan 49684

Riverview Terrace

150 Pine St, Traverse City, Michigan 49684

Grand Traverse Community Living Apartments

920 Grant St, Traverse City, Michigan 49686

Grand Traverse Area Clc

935 Barlow St, Traverse City, Michigan 49686

Keystone Village Apartments

2943 Keystone Rd N, Traverse City, Michigan 49686

Chateau Operations Ltd C/O Corp Ofc

15816 Center Rd, Traverse City, Michigan

Hillview Terrace

601 Fetzhugh Drive, Traverse City, Michigan

Chateau Heights C/O Kmg Prestige

1835 Apartments Dr., Traverse City, Michigan

Homestretch 4013 N Three Mile Rd

4013 3 Mile Rd N, Traverse City, Michigan 49686

Bay Front Apartments

872 E Front St, Traverse City, Michigan 49686

The Hourly Wage Needed to Afford A Safe, Modest 2 Bed Apartment In Traverse City, Michigan
$23.33/hour
$13.00 (+126%) more than Michigan minimum wage and $16.08 (+222%) more than the Federal minimum wage.
Learn More About Traverse City, Michigan Affordable Housing ↓

What HUD offices serve Traverse City, Michigan?

Public Housing Agencies operate federally assisted affordable housing programs at local levels on behalf of HUD. Notably, housing agencies are responsible for managing Section 8 Housing Choice Voucher, Public Housing, and Project-Based Voucher waiting lists within their jurisdiction.

Operates the Section 8 Housing Choice Voucher (HCV), Homeownership Voucher, Family Self-Sufficiency, Veteran Affairs Supportive Housing (VASH), Section 8 Project-Based Voucher (PBV) programs for Traverse City, Michigan.
Operates the Section 8 Housing Choice Voucher (HCV), Public Housing programs for Traverse City, Michigan.

Go to the Michigan Public Housing and Low-Income Apartments Waiting Lists page for openings near Traverse City.

How many renters live in Traverse City, Michigan?

The City of Traverse City has 15,468 people living in 7,104 households.

There are 4,959 renters living in 2,727 renter households in this City. Renters make up 32.06 percent of the population living in Traverse City.

What is the rental market like in Traverse City, Michigan?

There are an estimated 8,302 housing units in the Traverse City area. Of these, 2,982 units are rental homes, making up 36 percent of the housing market. For every renter household in Traverse City, Michigan, there are 1 rental units.

What is the vacancy rate for rentals in Traverse City?

The rental vacancy rate in Traverse City is 9 percent. This is a higher than average vacancy rate. When rental vacancy rates are high it means that there are a lot of available units and rents tend to be lower.

How many rental units are in Traverse City for each bedroom size?

Occupied Rental Units by Size in Traverse City
Studio One-Bedroom Two-Bedroom Three-Bedroom Four+ Bedrooms
40 877 1,154 560 67
Occupied Rental Units by Size in Traverse City

A large number of apartments in Traverse City have two or fewer bedrooms. Seniors and young professionals especially may have more success finding an apartment that meets their needs.

How many renter households in Traverse City are overburdened by housing costs?

Among renter households in this market, 50 percent have housing cost burden. Further, 21 percent of households are extremely rent overburdened. When renters pay too much for their housing, it leaves little money for other necessities like food, clothes, or medicine.

The federal government says that renters are cost-burdened if they pay more than a third of their monthly income for rent and utilities.

How Much Is Rent in Traverse City

Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $1,044 to $1,641. FMRs are updated annually by HUD for every city and county nationwide.

Bed Size 2024 Fair Market Rents
Studio $1,044
One BR $1,061
Two BR $1,232
Three BR $1,490
Four BR $1,641
2024 Fair Market Rents in Traverse City, Michigan

How many units are rented at Fair Market Rent (FMR) in Traverse City?

Renters with a Section 8 Housing Choice Voucher must select a home that is at or below the area’s Fair Market Rent. Markets with a large share of units above FMR tend to have longer search times to find a qualified unit, while those with a large share of units below FMR tend to have more choices and shorter search times. The share below FMR can vary by size of unit, as shown in the table below.

These are the approximate number of units renting below the FMR in this market:

Unit Size Count of Units Below FMR Percentage of Total Units Below FMR
Studio 40 100 percent
One BR 619 71 percent
Two BR 732 63 percent
Rental Units Below FMR in Traverse City, Michigan

How many affordable rental units are in Traverse City?

There are a variety of federal affordable housing programs serving households in Traverse City, Michigan including the following:

Federal Program Unit Count
Low Income Housing Tax Credit 228
Section 8 Project-Based Rental Assistance 78
USDA Section 515 Rural Rental Housing 125
Tracked Units by Federal Program in Traverse City, Michigan

Rental units may be funded in part by multiple federal programs.

Income Based Apartments in Traverse City, Michigan

Traverse City features 753 income based apartments. Tenants of income based apartments typically pay no more than 30% of their income towards rent and utilities.

Low Rent Apartments in Traverse City, Michigan

There are 500 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Traverse City.

Housing Choice Vouchers in Traverse City, Michigan

On average, Section 8 Housing Choice vouchers pay Traverse City landlords $600 per month towards rent. The average voucher holder contributes $300 towards rent in Traverse City.

The maximum amount a voucher would pay on behalf of a low-income tenant in Traverse City, Michigan for a two-bedroom apartment is between $1,109 and $1,355.

Sourced from federal housing data and AffordableHousingOnline.com research.