Real Estate Investing in Bloomington, Indiana (47462)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 47462 (Bloomington, IN)? Our answer, based on the numbers below.
Mixed signals — some positives, some negatives. Worth considering but not a slam-dunk.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
- Elevated vacancy: 10.1% vacancy may signal weakening demand.
• Modeled rent — no observed market rent for this ZIP; the figure is estimated from HUD fair-market rent.
What’s happening in Bloomington, IN (47462)?
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Market Analysis: 47462 Bloomington
ZIP 47462 inside Lawrence County looks affordable on the surface — median value of $270K — but the discount exists for reasons that a careful buyer should understand before committing.
The investment case in 47462 is solid only for operators who understand what they are buying. A $270K median suggests accessibility, but management intensity, vacancy drift, and capex surprises are real.
Nearby ZIPs in Bloomington have seen price recovery that 47462 has not matched. Lawrence County data supports the view that the spread is structural rather than temporary.
Demographically, 47462 is a market where tenant selection matters more than unit finishes. Operators who understand that tend to do fine; those who do not tend to learn why the ZIP trades at a discount.
Experienced landlords with local relationships tend to find 47462 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 47462
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $190,740 | $1,030 | 3.9% | +7.0% | $95,370 |
| 3BR | $267,699 | $1,290 | 3.5% | +8.1% | $89,233 |
| 4BR | $354,866 | $1,550 | 3.1% | +7.9% | $88,717 |
Market Trends
Home Value History (with trend line)
📊 How Does 47462 Compare?
| Metric | 47462 | Bloomington | Bedford, IN | Indiana |
|---|---|---|---|---|
| Home Value | $270,023 | $157,328 | N/A | $248,442 |
| 5-Year CAGR | 5.4% | 4.8% | N/A | 7.7% |
| Avg Rent | $927 | $1,355 | N/A | - |
| Cap Rate | 2.7% | 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 47462 (Bloomington, IN). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $270,023 |
| Monthly Rent | $927 |
| Price-to-Rent | 24.3:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 4.1% |
| Cap Rate | 2.7% |
| 5-Year IRR | 8.0% |
📈 Home Appreciation
| 1-Year | +5.9% ▲ |
| 3-Year CAGR | +4.6% ▲ |
| 5-Year CAGR | +5.4% ▲ |
| 10-Year CAGR | +7.4% ▲ |
🏠 Rent Trends
| 1-Year | N/A |
| 3-Year CAGR | N/A |
| 5-Year CAGR | N/A |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (2.7%). 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 47462
Population: 4,949
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 47462
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.
Frequently Asked Questions
What is the median home value in Bloomington, IN?
Expect median prices around $270K in Bloomington, IN. The market has run at a 0.0% 5-year CAGR, so entry costs have been measured.
Is the tenant base reliable in Bloomington, IN?
The renter base in Bloomington, IN is reasonable for the $927/mo price point. Screening well and pricing to market typically yields measured tenants.
What is the investability score for Bloomington, IN?
Bloomington, IN comes in at an investability rating of 3.0/5, with median home values near $270K and average rents around $927/mo. That combination puts it in the notable tier for investor interest.
Is Bloomington, IN a good market for FHA house hackers?
Bloomington, IN is a a challenging market for house hackers. FHA or conventional owner-occupant buyers find the $270K price point reasonable to enter.
What is the typical vacancy rate in Bloomington, IN?
Occupancy in Bloomington, IN runs consistent with elevated vacancy. Well-priced units at $927/mo lease on reasonable timelines.
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How 47462 ranks in Bedford, IN
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