Department of Numbers

Bloomington Indiana Residential Rent and Rental Statistics

The median monthly gross residential rent in Bloomington, IN (the Bloomington metro area) was $833 in 2015 according to the Census ACS survey.1 Average gross rent in Bloomington was $907 in 2015. The median rent more accurately depicts rental rates in the middle of the distribution of rents and is thus preferred in the analysis below. 2016 Bloomington median and average rent data will be released in September of 2017.

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.

Show dollars as: Nominal Real

Real Gross Rent in Bloomington Indiana (2015 dollars)2

2015 1 Year Change 3 Year Change
US Median Gross Rent $959 +3.12% +8.24%
Indiana Median Gross Rent $758 +1.20% +5.72%
Bloomington, IN Median Gross Rent $833 +0.36% +5.71%

Bloomington, IN Real Gross Rent Trends

At $833, real median gross rent in Bloomington was at its highest level in 2015 since the series began in 2005. At $907, real average gross rent in Bloomington was at its highest level in 2015 since the series began in 2005.

Real Gross Rent in Bloomington: Bloomington IN Median, Bloomington IN Average, Indiana Median, US Median

Lower quartile, median and upper quartile real gross rent

Real Gross Rent History for Bloomington

Date US
Median
Indiana
Median
Bloomington, IN
Median
Bloomington, IN
Average
2015 $959 $758 $833 $907
2014 $930 $749 $830 $845
2013 $898 $725 $811 $864
2012 $886 $717 $788 $786
2011 $887 $720 $745 $841
2010 $901 $719 $705 $793
2009 $905 $738 $768 $827
2008 $920 $748 $768 $785
2007 $874 $707 $718 $773
2006 $883 $739 $734 $802
2005 $858 $725 $705 $722

Bloomington Rental Vacancy Rate

The rental vacancy rate is the fraction of homes for rent that are not occupied.3 In 2015 the rental vacancy rate for Bloomington Indiana was 5.62% according to Census ACS data.

Rental Vacancy Rate in Bloomington Indiana

2015 1 Year Change 3 Year Change
US 5.85% -0.47% -0.92%
Indiana 7.94% -0.15% -0.49%
Bloomington, IN 5.62% -0.84% +0.47%

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 7.86% to 5.62%. Data records for this series originated in 2005. From a 2009 post peak low of 1.77%, the rental vacancy rate has increased by 3.85%.

Rental Vacancy Rate: Bloomington IN, Indiana, US

Rental vacancy rate in Indiana

Historical Rental Vacancy Rate data for Bloomington

Date US Indiana Bloomington, IN
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%
2008 7.86% 9.02% 3.69%
2007 7.87% 9.72% 10.57%
2006 7.70% 11.17% 13.48%
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 22.53% in 2015 according to the ACS.

Bloomington Indiana Median Annual Rent as a Fraction of Median Household Income

2015 1 Year Change 3 Year Change
US 20.63% -0.26% -0.02%
Indiana 18.00% -0.27% -0.26%
Bloomington, IN 22.53% +0.27% -1.79%

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 1.79% to 22.53%.

Fraction of Income towards Rent: Bloomington IN, Indiana, US

Percent of median household income going towards median monthly gross rent in Bloomington Indiana

Historical Data for Annual Rent as a Fraction of Income in Bloomington Indiana

Date US Indiana Bloomington, IN
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%
2008 19.00% 16.76% 20.80%
2007 18.66% 16.14% 19.64%
2006 18.90% 16.87% 20.38%
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 2015 43.07% of households were renters according to Census ACS data.

Bloomington Fraction of Renters by Household Units

2015 1 Year Change 3 Year Change
US 36.97% +0.07% +0.88%
Indiana 31.82% +0.40% +1.20%
Bloomington, IN 43.07% +0.74% +3.61%

Trends in the Bloomington, IN Renter Fraction

The Bloomington household renter fraction peaked in in 2013 at 44.64% and is now 1.57% below that level. The origin year for the series is 2005.

Fraction of Renting Households: Bloomington IN, Indiana, US

Fraction of renters in Bloomington

History of Bloomington Renter Fraction

Date US Indiana Bloomington, IN
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%
2008 33.36% 28.17% 37.95%
2007 32.80% 28.37% 36.88%
2006 32.73% 27.88% 34.38%
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.