Average Rent in Bloomington, IN↑ Rents rising 3.5% YoY🔺 11th priciest in IN

Bloomington, IN has rental prices ranging from $1,001/month to $1,932/month in 2027, depending on unit size. The typical 1-bedroom apartment rents for $1,096/month — 22% below the national average of $1,400/month. With a median household income of $62,949/year, spending $1,096/month on a 1-bedroom represents 21% of gross income — within the recommended 30% threshold.

How Bloomington Compares

With an average 2-bedroom rent of $1,252/month, Bloomington ranks #11 most expensive of the 81 cities tracked in Indiana — pricier than 79% of all US cities in our data.

The Bloomington Rental Market

The Bloomington, IN area has a population of about 161,256 and 42% of households renting rather than owning. That renter share runs above the US average of ~34%, pointing to a competitive rental market where vacancies clear quickly and rents are less negotiable.

Rent Trends

2-bedroom rents in Bloomington, IN have risen by $42/month (3.5%) over the past year, from $1,210 to $1,252. This modest growth is consistent with broader inflationary trends seen across US rental markets.

Affordability

To afford a 1-bedroom apartment in Bloomington, IN without exceeding the 30% housing cost guideline, a renter needs an annual income of approximately $43,840. The local median household income of $62,949 exceeds that threshold by $19,109, making Bloomington relatively accessible compared to local wages.

Rent vs. Buy

The median home value in Bloomington, IN is $312,287, giving a price-to-rent ratio of 20.8. With a break-even horizon of approximately 21 years, renting is likely the more financially prudent option for most residents unless they plan to stay long-term.

Neighborhoods

Home values — and by extension rent levels — vary significantly across Bloomington's neighborhoods. Among the highest-value areas are Cresent Bend ($195,350 median home value), Broadview ($212,051 median home value), Smithville-Sanders ($228,395 median home value). Rental prices typically follow home value patterns, with premium neighborhoods commanding higher rents than outer areas. Renters on a tighter budget may find better value in less central neighborhoods or in adjacent metros with lower overall rent levels.

Is Bloomington, IN Affordable?

Income needed to rent or buy, price history, and how this city compares to nearby metros.

Rent or Buy in Bloomington?

Break-even analysis and mortgage estimates based on local market data.

Living in Bloomington

Cost of living, job market, crime rates, and moving cost estimates.