Save This Search

Apartments for Rent in Traverse, MI under $500

3 Rentals Available
Apartments for Rent in Traverse, MI under $500. 3 Rentals Available
  • a living room with couches and a kitchen
    Today

    340 E. State Street, Traverse City, MI 49684
    STUDIO $1
  • a living room with a dining room table and chairs
    Today

    520 Wellington Street, Traverse City, MI 49686
    Income Restricted
    2 BEDS Ask for Pricing
  • a living room with couches and chairs and a table
    Today

    947 South Garfield Ave, Traverse City, MI 49686
    Income Restricted
    1 BED $373+
    2 BEDS $450+
3-0-city
Nice work, you've checked out every rental here! Expand your search to find your happy place.

Save Search

Getting around in Traverse, MI

66 /100
Somewhat Walkable
81 /100
Very Bikeable
Walk Score®: 66, Bike Score®: 81

Frequently asked questions

When were prices and availability in Traverse, MI last updated?

Prices and availability in Traverse, MI were last updated on 22 Feb 2026.

What are the best apartments in Traverse, MI?

The best apartments in Traverse, MI are: Breakwater, TC Lofts, Bayview of Traverse City, Ruth Park and Annika Place.

What type of rental buildings are in Traverse, MI?

In Traverse 30% of the housing is rented out compared to 70% of homes are owned, according to the most recent Census Bureau estimates. 12% of Traverse's apartments are found in large buildings of 50 units or more, 60% are located in smaller apartment complexes with less than 50 units, and 26% are single-family rentals.

Your search for apartments in Traverse, MI under $500 stops here

Finding apartments for rent in Traverse, MI for less than $500 has never been so easy! At RentCafe nice cheap apartments are just one click away. There are currently 3 available units in Traverse, MI, renting for under $500. Be sure to search for the apartment that is best for you. Under “More”, check the amenities that you consider a must-have, and don’t forget to look at the pet policy. Fitness enthusiasts can even check the Fitness Center box. Whether you are looking for studio apartments, 1 bedroom apartments, 2 bedroom apartments or 3 bedroom apartments, you are sure to find one that will make you want to move in right away.

We’ll help you find the best rental near you

Having to compromise on either price or location can turn your “apartments near me under $500” search into a nightmare. At RentCafe we recognize the importance of both. Therefore, we offer a variety of filters that can help you find exactly what you want. Sorting the results by rent, ascending, will make the cheapest units show up first on the list. Try it out! You will find that right now the cheapest apartment under $500 in Traverse, MI goes for $373 per month. If some of the results are outside the area of your choice, you can go to the left side of the screen and draw a radius or a polygon around your location. Now you will only see results that are relevant to you.

Finding a home nearby is easier than you think. Check out our Apartments Near Me page and take your pick!