ZIP Code · MI

ZIP 49684

Part of Traverse City, MI

Pop. 21,585·Grand Traverse County·16th most expensive ZIP in Michigan

Median rent (all units)

$1,994/mo

Year-over-Year

+3.5%

Month-over-Month

+0.1%

vs US Median

+$62

Reported rents

Stable (Monthly)

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Most AffordableMost Expensive

ZIP 49684 · $1,994

More expensive than 61% of US ZIP codes · National median $1,932/mo

Rent check

Is your rent fair?

Compare your rent to the local median.

Medians by bedroom

Rent by unit size

Studio

$1,120

1 BR

$1,190

2 BR

$1,380

3 BR

$1,750

4 BR+

$1,830

Research median

$1,380/mo

Bedroom estimates are gross rents that include essential utilities (electricity, water, gas, sewer, trash).

Rent trends

12-month history

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Last updated: October 17, 2026

From the history

What the numbers show

Past year vs. the rest of Michigan

Rent in ZIP 49684 changed +3.5% over the year to September 2026. Across the 134 Michigan ZIP codes Zillow tracks, the typical change was +4.4%.

Recent direction

Rent has risen 3 months in a row, and rose in 8 of the last 12 months.

What a typical income covers

30% of the median household income ($80,788) is $2,020 a month. That covers HUD's Fair Market Rent for up to a 4-bedroom ($1,830).

From Zillow's monthly rent index (ZORI) for ZIP 49684. Income is the Census median household income (5-year estimates). Fair Market Rents are HUD’s, which include utilities.

Annual cost

$23,928/yr

At $1,994/mo median

Location

CityTraverse City

StateMI

CountyGrand Traverse County

Rent Market Meter

Landlord's Market

Renter's MarketBalancedLandlord's Market

Rents are climbing (3.5% YoY), so leverage tilts toward landlords. Act sooner rather than later.

Based on rent-price momentum (+3.5% YoY, +0.1% MoM), not inventory.

Demographics

Who lives here

ZIP 49684 (Traverse City, MI) is majority owner-occupied, has a large retiree population, 47.3% of residents hold a bachelor's degree or higher.

Population

21,585

Median income

$80,788

Median age

48.7

Renters

30.7%

Age distribution

17.5%

17.8%

23.1%

13.8%

27.8%

Under 1817.5%

18–3417.8%

35–5423.1%

55–6413.8%

65+27.8%

Gender

48.7%

51.3%

Male48.7%

Female51.3%

Race & ethnicity

91.2%

White91.2%

Black0.6%

Hispanic3.6%

Asian0.7%

Other4%

Education (25+)

18%

31.6%

47.3%

No HS diploma3.1%

HS diploma18%

Some college31.6%

Bachelor's+47.3%

Housing tenure

69.3%

30.7%

Owner69.3%

Renter30.7%

Source: U.S. Census Bureau · ACS 2024 5-Year Estimates

2021 vs 2026

How ZIP 49684 in Traverse City, MI has changed in 5 years

Income

$65,667 → $80,788

up 23.0%

Population

21,388 → 21,585

up 0.9%

Renter share

33.5% → 30.7%

-2.8 pts

Bachelor's+

44.4% → 47.3%

+2.9 pts

Median age

45.9 → 48.7

+2.8 yrs

Median household income grew from $65,667 to $80,788 between 2021 and 2024, a 23.0% shift. About 30.7% of households rent today, against 33.5% in 2021. Educational attainment has shifted as well, with the share of adults holding a bachelor's degree or higher climbed from 44.4% to 47.3%.

Community

Discussions about ZIP 49684

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Local insights

Tips for renters in ZIP 49684

About renting in ZIP 49684

Last updated: October 17, 2026

ZIP code 49684 covers Traverse City, MI. The median rent here is $1,994/mo as of October 2026. A 1-bedroom rents for a median of $1,190/mo. A 2-bedroom rents for a median of $1,380/mo.

At 30% of local median household income ($80,788/yr), ZIP 49684 ranks as moderate compared to the national benchmark of 30%. Rents have increased 3.5% over the past year.

FAQ

Frequently asked questions

How much income do you need to rent in ZIP 49684?

To keep rent at or below 30% of gross income, you would need to earn at least $80,000/year (about $38/hour full-time) to afford the median rent of $1,994/mo in ZIP 49684. The local median household income is $80,788/yr, so the typical household meets that bar.

Is rent going up or down in ZIP 49684?

Rent in ZIP 49684 has risen 3.5% over the past year.

How does ZIP 49684 compare to other ZIPs in Michigan?

ZIP 49684 is one of the pricier among Michigan ZIP codes for rent, ranking #16 of 168 at $1,994/mo. Over the year to September 2026, rent in ZIP 49684 changed +3.5%, against a typical +4.4% across the 134 Michigan ZIP codes Zillow tracks.