Rent vs Buy in Bloomington, IN
Monthly cost of renting vs owning a median-priced home · 30-yr fixed, 20% down
Rent and buy are roughly balanced in Bloomington, IN
Price-to-rent ratio is 20.8 (under 15 favors buying, over 21 favors renting). Renting costs $1,252/mo; owning runs about $2,305/mo — $1,053/mo more to own.
| Monthly cost to own | Amount |
|---|---|
| Mortgage (P&I, 6.80% rate) | $1,629 |
| Property tax | $286 |
| Home insurance | $130 |
| Maintenance | $260 |
| Total to own | $2,305 |
| Average 2BR rent | $1,252 |
Based on a median home value of $312,287 with a $62,457 down payment. Owning also builds equity over time, which a monthly comparison doesn't capture. Estimates use national averages for taxes, insurance and maintenance — your actual costs will vary.