Bloomington Indiana Residential Rent and Rental Statistics
The median monthly gross residential rent in Bloomington, IN (the Bloomington metro area) was $925 in 2019 according to the Census ACS survey.1 Average gross rent in Bloomington was $953 in 2019. The median rent more accurately depicts rental rates in the middle of the distribution of rents and is thus preferred in the analysis below. 2020 Bloomington median and average rent data will be released in September of 2021.
Data is also available below for Bloomington rental vacancy rates, Bloomington rent as a percent of median income and the fraction of renters in Bloomington.
Real Gross Rent in Bloomington Indiana (2019 dollars)2
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US Median Gross Rent | $1,097 | +1.86% | +6.82% |
| Indiana Median Gross Rent | $840 | +0.60% | +4.48% |
| Bloomington, IN Median Gross Rent | $925 | +3.01% | +4.40% |
Bloomington, IN Real Gross Rent Trends
At $925, real median gross rent in Bloomington was at its highest level in 2019 since the series began in 2005. Average gross rent for Bloomington peaked in real terms in 2015 at $962 and is now $9 (0.94%) lower.
Real Gross Rent in Bloomington: Bloomington IN Median, Bloomington IN Average, Indiana Median, US Median
Real Gross Rent History for Bloomington
| Date | US Median |
Indiana Median |
Bloomington, IN Median |
Bloomington, IN Average |
|---|---|---|---|---|
| 2019 | $1,097 | $840 | $925 | $953 |
| 2018 | $1,077 | $835 | $898 | $938 |
| 2017 | $1,043 | $818 | $861 | $934 |
| 2016 | $1,027 | $804 | $886 | $915 |
| 2015 | $1,017 | $804 | $884 | $962 |
| 2014 | $986 | $795 | $880 | $896 |
| 2013 | $953 | $769 | $860 | $916 |
| 2012 | $940 | $761 | $836 | $834 |
| 2011 | $941 | $764 | $791 | $892 |
| 2010 | $955 | $763 | $748 | $841 |
| 2009 | $960 | $783 | $815 | $878 |
| 2007 | $927 | $750 | $761 | $820 |
| 2005 | $910 | $769 | $748 | $766 |
Bloomington Rental Vacancy Rate
The rental vacancy rate is the fraction of homes for rent that are not occupied.3 In 2019 the rental vacancy rate for Bloomington Indiana was 6.30% according to Census ACS data.
Rental Vacancy Rate in Bloomington Indiana
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 5.97% | -0.18% | +0.08% |
| Indiana | 6.89% | +0.30% | -0.07% |
| Bloomington, IN | 6.30% | +2.07% | -0.13% |
Trends in Bloomington, IN Rental Vacancy Rate
The rental vacancy rate in Bloomington peaked in 2006 at 13.48%. Since then it has fallen by 7.18% to 6.30%. Data records for this series originated in 2005. From a 2009 post peak low of 1.77%, the rental vacancy rate has increased by 4.53%.
Rental Vacancy Rate: Bloomington IN, Indiana, US
Historical Rental Vacancy Rate data for Bloomington
| Date | US | Indiana | Bloomington, IN |
|---|---|---|---|
| 2019 | 5.97% | 6.89% | 6.30% |
| 2018 | 6.15% | 6.59% | 4.23% |
| 2017 | 6.18% | 7.14% | 4.11% |
| 2016 | 5.89% | 6.96% | 6.43% |
| 2015 | 5.85% | 7.94% | 5.62% |
| 2014 | 6.32% | 8.09% | 6.46% |
| 2013 | 6.49% | 7.00% | 3.17% |
| 2012 | 6.77% | 8.43% | 5.15% |
| 2011 | 7.40% | 8.47% | 7.05% |
| 2010 | 8.17% | 8.78% | 6.90% |
| 2009 | 8.43% | 10.44% | 1.77% |
| 2007 | 7.87% | 9.72% | 10.57% |
| 2005 | 7.74% | 10.67% | 7.44% |
Rent as a Fraction of Income
Using median household income data for Bloomington, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. For Bloomington, median monthly gross rent as a fraction of median household income was 21.13% in 2019 according to the ACS.
Bloomington Indiana Median Annual Rent as a Fraction of Median Household Income
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 20.03% | -0.47% | -0.40% |
| Indiana | 17.50% | -0.15% | -0.12% |
| Bloomington, IN | 21.13% | -1.23% | -2.10% |
Trends in Bloomington, IN Rent as a Fraction of Income
The fraction of median Bloomington household income required to pay median monthly gross rent peaked in 2012 (relative to the 2005 series origin) at 24.31%. Since then it has fallen by 3.18% to 21.13%.
Fraction of Income towards Rent: Bloomington IN, Indiana, US
Historical Data for Annual Rent as a Fraction of Income in Bloomington Indiana
| Date | US | Indiana | Bloomington, IN |
|---|---|---|---|
| 2019 | 20.03% | 17.50% | 21.13% |
| 2018 | 20.50% | 17.65% | 22.36% |
| 2017 | 20.13% | 17.56% | 20.43% |
| 2016 | 20.43% | 17.62% | 23.23% |
| 2015 | 20.63% | 18.00% | 22.53% |
| 2014 | 20.89% | 18.27% | 22.26% |
| 2013 | 20.78% | 18.43% | 23.30% |
| 2012 | 20.65% | 18.27% | 24.31% |
| 2011 | 20.70% | 18.27% | 22.33% |
| 2010 | 20.50% | 18.37% | 21.05% |
| 2009 | 20.12% | 18.15% | 22.96% |
| 2007 | 18.66% | 16.14% | 19.64% |
| 2005 | 18.89% | 16.78% | 20.38% |
Renter Fraction in Bloomington Indiana
You can calculate the renter fraction in Bloomington in at least two ways: by housing units or by population. I've gone with the housing units measure here. This measure looks at the number of renting households in Bloomington as a fraction of total Bloomington households. In 2019 38.36% of households were renters according to Census ACS data.
Bloomington Fraction of Renters by Household Units
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 35.89% | -0.16% | -0.99% |
| Indiana | 30.69% | -0.37% | -0.96% |
| Bloomington, IN | 38.36% | -4.24% | -3.15% |
Trends in the Bloomington, IN Renter Fraction
The Bloomington household renter fraction peaked in in 2013 at 44.64% and is now 6.28% below that level. The origin year for the series is 2005.
Fraction of Renting Households: Bloomington IN, Indiana, US
History of Bloomington Renter Fraction
| Date | US | Indiana | Bloomington, IN |
|---|---|---|---|
| 2019 | 35.89% | 30.69% | 38.36% |
| 2018 | 36.05% | 31.06% | 42.60% |
| 2017 | 36.13% | 30.96% | 43.42% |
| 2016 | 36.88% | 31.65% | 41.51% |
| 2015 | 36.97% | 31.82% | 43.07% |
| 2014 | 36.90% | 31.42% | 42.33% |
| 2013 | 36.50% | 31.48% | 44.64% |
| 2012 | 36.09% | 30.62% | 39.46% |
| 2011 | 35.42% | 30.28% | 38.79% |
| 2010 | 34.65% | 29.71% | 38.09% |
| 2009 | 34.13% | 29.57% | 39.60% |
| 2007 | 32.80% | 28.37% | 36.88% |
| 2005 | 33.10% | 28.00% | 38.51% |
1. Gross rent is defined as contract rent plus the estimated average monthly cost of utilities (electricity, gas, water, and sewer) and fuel (oil, coal, kerosene, wood, etc.). Because some rentals include utilities and others don't, gross rent is a way of normalizing the variability. ↩
2. Real dollars are calculated using the CPI-U less shelter series. ↩
3. The rental vacancy rate is computed by dividing the number of vacant units for rent by the sum of the renter-occupied units, vacant units that are for rent, and vacant units that have been rented but not yet occupied. ↩
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