Bloomington, Indiana Rental Market Trends
Any shifts in rent prices brought forth by the COVID-19 pandemic are not yet reflected in the statistics on this page. Please bear this in mind when referencing the data below, as it may not accurately describe the current context of the Bloomington, Indiana rental market.
Highlights
An apartment for rent in Bloomington, Indiana typically goes for $1,609 per month, while a single-family home for rent in Bloomington, Indiana has a monthly cost of around $2,139. Renter-occupied units make up 64% of the local housing market, while the rental vacancy rate in Bloomington, Indiana is at 5.2.
Bloomington, Indiana
Average Apartment Rent
$1,609
Y-o-Y Change in Average
Apartment Rent
5.4%
Average Single-Family Rent
$2,139
As of July 2024
Compared to a year ago, Bloomington, Indiana apartments have recorded a 5.4% rent increase.
Bloomington, Indiana |Average apartment rent trend
Bloomington, Indiana| Average apartment rent
Bloomington, Indiana | Apartment rent ranges
At 35.19%, apartments priced $1,000 - $1,500 represent the bulk of Bloomington, Indiana rentals, while condos priced $500 - $700 hold the lowest share of the market – 0.82%.
Bloomington, Indiana | Housing tenure**
Renters take up 64% of Bloomington, Indiana real estate, occupying a total of 21,001 units, while homeowners live in 11,591 properties.
Median number of rooms of renter-occupied housing units**
3.9
Renter median household income**
$28,307
Average household size of renter-occupied housing units**
1.84
Rental vacancy rate**
5.2%
Bloomington, Indiana | Renter-occupied housing units by no. of bedrooms**
There are 7,182 rentals in Bloomington, Indiana with 2 beds making up the highest share of the market, at 34%. Units with 5 or more beds, on the other hand, hold the lowest percentage (2%), amounting to 498 units. Overall, the median number of rooms in Bloomington, Indiana homes for rent is 3.9.
Bloomington, Indiana |Renter-occupied units by age of householder**
Most condos for rent in Bloomington, Indiana are occupied by residents in the 15 - 24 years age group (40%), followed by those in the 25 - 34 years age group (28%). At the same time, people in the 75 - 84 years age group make up the lowest share of the local rental market – 2%.
Bloomington, Indiana | Renter-occupied housing units by family type**
Bloomington, Indiana | Renter-occupied housing units by the presence of own children**
A total of 4,515 apartments for rent in Bloomington, Indiana, or 21% of all rentals are family households. Additionally, 10% of rental homes include children under the age of 18 – that’s 2,105 units. All in all, the median size of a renter-occupied household in Bloomington, Indiana is 1.84.
Bloomington, Indiana | Renter-occupied housing units by educational attainment**
In terms of education, renters holding bachelor degrees or higher make up 45% of the rental market. In contrast, residents with less than a high school degree reside in 3% of the homes for rent in Bloomington, Indiana.
Bloomington, Indiana | Renter-occupied units by year structure built**
The highest share of Bloomington, Indiana apartment rentals, namely 17% or 3,561 units, were Built 1990 - 1999, followed by those Built 1980 - 1989 (16%, 3,441 units), and the ones Built 1970 - 1979 (14%, 2,954 units).
Bloomington, Indiana | Renter-occupied units by year householder moved in**
Median year renter moved into unit2019
Most Bloomington, Indiana renters (51%) moved in 2018 to 2020, while only 1% of them moved in 1990 to 1999. Overall, the median year renters have occupied their Bloomington, Indiana condos for rent is 2019.
Bloomington, Indiana | Renter-occupied housing units by vehicles available**
When it comes to transportation options, 51% of Bloomington, Indiana renters have 1 vehicle available per household, 22% of them have 2 vehicles available, and 16% have No vehicle available.
Bloomington, Indiana | Means of transportation to work of householders living in renter-occupied housing units**
Bloomington, Indiana |Geographical mobility in the past year for householders living in renter-occupied housing units**
Bloomington, Indiana | Average apartment rent by zip codes
The rental statistics on this page were compiled using data provided by our sister company, Yardi Matrix, an apartment market intelligence solution which offers comprehensive information on all Bloomington, Indiana apartment buildings 50 units or larger. Yardi Matrix covers ~80% of the U.S. metro area population, including over 80,000 properties and 15.2 million apartments across 124 U.S. markets.
*Average single-family rent calculated from point2homes.com data.
**Data sourced from U.S. Census Bureau; American Community Survey, 2022 American Community Survey 5-Year Estimates
