Real Estate Investing in Bloomington, Indiana (47408)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 47408 (Bloomington, IN)? Our answer, based on the numbers below.
Proceed carefully. Weak appreciation or affordability makes this a harder case for most buyers.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
- High vacancy: 16.6% of homes vacant — above national norms.
What’s happening in Bloomington, IN (47408)?
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Market Analysis: 47408 Bloomington
From a cash-flow lens, ZIP 47408 has challenges — vacancy pressure, softer price growth, and tenant stability concerns sit alongside the $348K median. It rewards specialists, not generalists.
Distressed markets are won on execution, not on spreadsheets. ZIP 47408 records the profile where tenant screening, deferred maintenance, and local relationships determine the outcome.
Nearby ZIPs in Bloomington have seen price recovery that 47408 has not matched. Monroe County data supports the view that the spread is structural rather than temporary.
The demographic picture in 47408 includes headwinds that any investor should price in. Income distribution skews lower than Bloomington averages, and tenant stability requires active management.
Experienced landlords with local relationships tend to find 47408 workable. Turnkey investors from out of state usually find the numbers do not hold up in practice.
Here's what matters if you're considering buying a home in Bloomington:
Property Strategy for 47408
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 1BR | $218,847 | $1,060 | 3.5% | +5.4% | $218,847 |
| 2BR | $239,226 | $1,200 | 3.6% | +7.6% | $119,613 |
| 3BR | $315,282 | $1,560 | 3.6% | +6.4% | $105,094 |
| 4BR | $422,211 | $1,890 | 3.2% | +5.8% | $105,553 |
| 5BR | $516,684 | — | — | +5.3% | $103,337 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 47408 Compare?
| Metric | 47408 | Bloomington | Bloomington, IN | Indiana |
|---|---|---|---|---|
| Home Value | $348,249 | $157,328 | N/A | $248,442 |
| 5-Year CAGR | 4.8% | 4.8% | N/A | 7.7% |
| Avg Rent | $1,540 | $1,355 | N/A | - |
| Cap Rate | 3.5% | 3.3% | - | - |
Similar ZIPs Within 25 Miles
Compare other nearby markets to see if a neighbor offers a better fit.
Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 47408 (Bloomington, IN). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $348,249 |
| Monthly Rent | $1,540 |
| Price-to-Rent | 18.8:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 5.3% |
| Cap Rate | 3.5% |
| 5-Year IRR | 8.2% |
📈 Home Appreciation
| 1-Year | +5.2% ▲ |
| 3-Year CAGR | +3.1% ▲ |
| 5-Year CAGR | +4.8% ▲ |
| 10-Year CAGR | +7.0% ▲ |
🏠 Rent Trends
| 1-Year | -35.4% ▼ |
| 3-Year CAGR | -9.9% ▼ |
| 5-Year CAGR | N/A |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (3.5%). Financing reduces your cash-on-cash return below the cap rate. Markets like this may still make sense as IRR plays — factoring in appreciation, depreciation, and a future refinance when rates drop.
Run an IRR Analysis →⚠️ Risk Signals
Composite view of factors that can impact a ZIP's stability and your downside risk.
Demographics in 47408
Population: 21,660
Crime & Safety
Crime & Safety Data Coming Soon
We're integrating comprehensive crime statistics including violent crime rates, property crime, and safety scores to help you make informed investment decisions.
Expected: Q1 2025
🎓 Schools in 47408
Schools in This ZIP Code
About Repit School Scores
Traditional school ratings rely heavily on standardized test scores, which often reflect family income more than school quality. Repit takes a different approach.
We evaluate schools based on factors that research shows actually impact educational outcomes:
- Class Size — Smaller classes mean more individual attention
- School Funding — Resources available for programs, staff, and facilities
- Community Factors — Neighborhood characteristics that influence student success
- School Environment — Size, type, and structure
Scores are updated annually using federal education data.
🎓 Nearby Colleges & Universities
Investor Insight: With 1,188 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
How does Bloomington, IN stack up for property investment?
Bloomington, IN rates 3.0/5 for investability. With median values at $348K and rents near $1,540/mo, the market offers reasonable fundamentals for rental investors.
Which investment style suits Bloomington, IN?
For Bloomington, IN, careful cash-flow rentals with hands-on management is the standard investor playbook. The market structure makes it a reasonable default approach.
What are vacancy rates like in Bloomington, IN?
Expect elevated vacancy in Bloomington, IN. Rents at $1,540/mo are absorbed by the tenant base without meaningful lag.
What kind of tenants rent in Bloomington, IN?
Expect a solid tenant pool in Bloomington, IN. The rental market absorbs $1,540/mo rents without meaningful friction.
What are rental rates like in Bloomington, IN?
Rent in Bloomington, IN is around $1,540/mo. The resulting rent-to-value relationship with $348K pricing is reasonable for most investor models.
You know 47408 now. You don’t know where it ranks.
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How 47408 ranks in Bloomington, IN
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