Real Estate Investing in Bloomington, Indiana (47403)
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Should you buy in 47403 (Bloomington, IN)? Our answer, based on the numbers below.
Solid choice — stable market with a reasonable entry point and good rental backup if you ever need to move.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
No major risk flags on the data we track.
What’s happening in Bloomington, IN (47403)?
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Market Analysis: 47403 Bloomington
Not every below-median market is a bargain. Bloomington's 47403 ZIP posts signals that favor experienced operators who can absorb the risk $281K pricing implies.
If the plan assumes clean turnover, on-time rent, and low maintenance on a $281K asset, 47403 is the wrong submarket. If the plan prices in friction, the yield can still work.
Within IN, ZIP 47403 trails on several market indicators that neighboring Monroe County submarkets outperform. The gap is real and impressive enough to shape underwriting.
Resident income in 47403 sits below the county median. That reality colors rent collection, vacancy, and reinvestment math in ways that outside investors often underestimate.
Strategy in 47403 is an operator game, not a passive one. Looking more closely, entry prices of $281K are inviting, the management lift is real and non-optional.
Here's what matters if you're considering buying a home in Bloomington:
Property Strategy for 47403
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 1BR | $181,025 | $980 | 3.9% | +4.1% | $181,025 |
| 2BR | $224,323 | $1,110 | 3.6% | +7.1% | $112,161 |
| 3BR | $267,989 | $1,460 | 3.9% | +6.8% | $89,330 |
| 4BR | $360,184 | $1,740 | 3.5% | +6.6% | $90,046 |
| 5BR | $465,727 | — | — | +6.1% | $93,145 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 47403 Compare?
| Metric | 47403 | Bloomington | Bloomington, IN | Indiana |
|---|---|---|---|---|
| Home Value | $281,490 | $157,328 | N/A | $248,442 |
| 5-Year CAGR | 4.8% | 4.8% | N/A | 7.7% |
| Avg Rent | $1,275 | $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 47403 (Bloomington, IN). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $281,490 |
| Monthly Rent | $1,275 |
| Price-to-Rent | 18.4:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 5.4% |
| Cap Rate | 3.5% |
| 5-Year IRR | 8.4% |
📈 Home Appreciation
| 1-Year | +4.8% ▲ |
| 3-Year CAGR | +3.6% ▲ |
| 5-Year CAGR | +4.8% ▲ |
| 10-Year CAGR | +6.9% ▲ |
🏠 Rent Trends
| 1-Year | -6.8% ▼ |
| 3-Year CAGR | -0.2% ▼ |
| 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 47403
Population: 34,410
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 47403
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?
With a 3.0/5 investability score, Bloomington, IN ranks as a solid market for rental property investors. Median prices of $281K and rents of $1,275/mo drive the underlying numbers.
What is the smart move for investors in Bloomington, IN?
Investors usually favor careful cash-flow rentals with hands-on management in Bloomington, IN. With home values at $281K and rents near $1,275/mo, other strategies can work but produce measured rather than outsized returns.
Is Bloomington, IN good for landlords?
Rental owners in Bloomington, IN deal with a landlord-friendly legal framework. Most standard eviction processes run on reasonable timelines.
What is the typical vacancy rate in Bloomington, IN?
Rental vacancy in Bloomington, IN is elevated. Investors should budget normal turnover but not chronic empty units.
What does house hacking look like in Bloomington, IN?
House hacking in Bloomington, IN is reasonable to execute. Prices around $281K and rents of $1,275/mo solid owner-occupant economics.
You know 47403 now. You don’t know where it ranks.
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How 47403 ranks in Bloomington, IN
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