Affordable Housing In Traverse City
Grand Traverse County, Michigan

20 Low Income Apartment Communities In Traverse City

Boardman Lake Apartments C / O Housing Mgmt

2790 Boardman Lake Dr
Traverse City, Michigan
$470-719
1-4 BR

Tradewinds Terrace

851 Fitzhugh Dr
Traverse City, Michigan
Call For Rent
2-4 BR
Subsidized

Churchside Village

6105 Center Rd
Traverse City, Michigan
Subsidized
62+
Accessible
Elderly Supportive Housing

Aspen Hills

1291 Oak Terrace Dr
Traverse City, Michigan
Subsidized

Grand Traverse Area Clc

935 Barlow St
Traverse City, Michigan
Subsidized

Grand Traverse Community Living Apartments

920 Grant St
Traverse City, Michigan
Subsidized
Accessible
Accessible
Disabled Supportive Housing

Oak Park Apartments

1650 Maylane
Traverse City, Michigan

Keystone Village Apartments

2943 Keystone Rd N
Traverse City, Michigan

Oak Terrace Apartments

1240 Oak Terrace Dr
Traverse City, Michigan
Subsidized

Bay Front Apartments

872 E Front St
Traverse City, Michigan

Section 8 Vouchers, Apartments, and Waiting Lists in 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.

Households who qualify for these programs may also qualify for Project-Based Section 8, which contributes rental assistance payments directly to private landlords on behalf of low-income tenants. Eligibility for the project-based program is similar to the voucher programs, but waiting list and application policies will vary depending on the landlord.

Public Housing Agencies Serving Traverse City, Michigan

Housing Authority Programs
Traverse City Housing Commission Section 8 Housing Choice Voucher (HCV); Public Housing
Michigan State Housing Development Authority Section 8 Housing Choice Voucher (HCV); Homeownership Voucher; Family Self-Sufficiency; Veteran Affairs Supportive Housing (VASH); Section 8 Project-Based Voucher (PBV)

Guide To Affordable Housing in Traverse City, Michigan

There are 20 low income housing apartment communities offering 1,545 affordable apartments for rent in Traverse City, Michigan.

Income Based Apartments in Traverse City, Michigan

Traverse City features 686 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 848 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 $908 and $1,110.

2022 Traverse City, Michigan Fair Market Rents and Housing Choice Voucher Payment Standards

Fair Market Rents can be used to better understand the average housing costs of an area. Fair Market Rents are used by HUD to establish payment and rent standards for federal rental assistance programs like the Section 8 Housing Choice Voucher Program.

Studio One BR Two BR Three BR Four BR
Traverse City, Michigan Fair Market Rent $698 $863 $1,009 $1,248 $1,368
Traverse City, Michigan Payment Standard Range $628 to $768 $777 to $949 $908 to $1,110 $1,123 to $1,373 $1,231 to $1,505

Sourced from federal housing data and AffordableHousingOnline.com research.

Traverse City, MI Affordable Housing Snapshot

Total Affordable Apartment Properties 20
Total Low Income Apartments 1,545
Total Housing Units with Rental Assistance 686
Percentage of Housing Units Occupied By Renters 38.46%
Average Renter Household Size 2.01
Average Household Size 2.23
Median Household Income $47,284 ±$4,217
Median Rent $808 ±$31
Percentage Of Renters Overburdened 46.84% ± 6.97pp
Total Population 15,168

Population and Household Demographics

Traverse City is a city in Grand Traverse County, Michigan with a population of 15,168. There are 6,467 households in the city with an average household size of 2.23 persons. 38.46% of households in Traverse City are renters.

Income and Rent Overburden in Traverse City

The median gross income for households in Traverse City is $47,284 a year, or $3,940 a month. The median rent for the city is $808 a month.

Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Traverse City, a household making less than $2,693 a month would be considered overburdened when renting an apartment at or above the median rent. 46.84% of households who rent are overburdened in Traverse City.

Area Median Income In Traverse City

Affordable housing program eligibility is always determined by one's income. Each household's income is compared to the incomes of all other households in the area. This is accomplished through a statistic established by the government called the Area Median Income, most often referred to as AMI. The AMI is calculated and published each year by HUD.

HUD often uses an area larger than a city to determine the AMI because HUD anticipates those searching for housing will look beyond individual cities during their housing search. For Traverse City, the AMI is calculated from all households within Grand Traverse County.

In Traverse City, HUD calculates the Area Median Income for a family of four as $89,700

Most affordable housing programs determine eligibility based on the percent of AMI a given household's income is. Among the programs that determine eligibility based on the AMI are Section 8, HOME, LIHTC, Section 515, 202 and 811.

Rental Assistance in Traverse City

Rental assistance is a type of housing subsidy that pays for a portion of a renter’s monthly housing costs, including rent and tenant paid utilities. This housing assistance can come in the form of Section 8 Housing Choice Vouchers, project-based Section 8 contracts, public housing, USDA Rental Assistance (in Section 515 properties) as well as HUD Section 202 and 811 properties for elderly and disabled households.

Income Qualifications for HUD Rental Assistance in Traverse City

1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
30% AMI Income Limits
Renters earning up to 30% of the Traverse City AMI may qualify for rental assistance programs that target Extremely Low Income households.
$17,850 $20,400 $22,950 $26,500 $31,040 $35,580 $40,120 $44,660
50% AMI Income Limits
Renters earning up to 50% of the Traverse City AMI may qualify for rental assistance programs that target Very Low Income households.
$29,750 $34,000 $38,250 $42,500 $45,900 $49,300 $52,700 $56,100
80% AMI Income Limits
Renters earning up to 80% of the Traverse City AMI may qualify for rental assistance programs that target Low Income households.
$47,600 $54,400 $61,200 $68,000 $73,450 $78,900 $84,350 $89,800