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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
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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 11 Apr 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, 28% of the residents are renting compared to 72% owning a home, according to data from the U.S. Census Bureau. Large-scale apartment buildings with more than 50 units represent 13% of Traverse's rentals, 62% are small-scale complexes with under 50 units, and 21% are single-family rentals.

Renting apartments in Traverse, MI under $500

Are you looking for a smart space where you can easily combine comfort with convenience? You will surely find the property that perfectly fits your needs with this variety of options. RentCafe offers you 3 apartments for rent in Traverse, MI from 3 modern buildings, so you’ll certainly find something suitable for you. If you want to live alone or with your partner, you might want to look for a studio or browse through our selection of 1 bedroom apartments. If you need more space but you don’t want to spend more than necessary on a monthly rent, check out our 2 bedroom or 3 bedroom apartments for less than $500, and make the most out of your budget.

Finding the best rental near you

Traverse, MI is an amazing place to call home, with several rentals under $500 for you to choose from. There are many options and filters you can apply to your search to make the process easier and to find your next apartment faster and more efficiently. Asking yourself ‘are there any cheap apartments near me’? With our helpful filters, you can easily find the home of your dreams that also fits within your budget. With rent prices as low as $373 in Traverse, MI, you can find affordable and appealing apartments that match your requirements. Sort your search by ‘Rent’ ascending to see the cheapest ones at the top of the list. As soon as you find your perfect apartment, make sure to contact the property to check for availability or apply online directly on RentCafe.

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