Location: Bloomington, IN | Metro: Bloomington, IN HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,020 |
| 1 Bedroom | $1,110 |
| 2 Bedrooms | $1,270 |
| 3 Bedrooms | $1,620 |
| 4 Bedrooms | $1,960 |
| 5 Bedrooms | $2,274 |
| 6 Bedrooms | $2,547 |
| 7 Bedrooms | $2,751 |
| 8 Bedrooms | $2,889 |
U.S. Census Bureau data (2024)
1130 FMR (Fair Market Rent) for ZIP 47405 indicates that the maximum rent allowed under Section 8 for a two-bedroom apartment is $1130 in fiscal year 2024. This figure is critical for landlords operating in this ZIP code.
N/A market rent suggests that recent data on typical rental prices in ZIP 47405 is unavailable, making the FMR a reliable benchmark for rental pricing.
N/A median home value means that specific data on the median value of homes in ZIP 47405 is not available, but the presence of 1,978 homes for sale across various platforms like Zillow and Trulia indicates a robust market.
N/A% renter share implies that the exact percentage of renters in ZIP 47405 is not known, but given the number of homes listed for rent and sale, it is evident that both homeownership and renting are prevalent.
N/A median income highlights the absence of precise data on the median household income in ZIP 47405, but the availability of diverse housing options suggests a varied economic landscape.
N/A-day DOM (Days on Market) points to a lack of recent data on how long properties typically remain unsold, though the numerous listings indicate active market activity.
N/A% price-cut share indicates that there is no recent data on the percentage of homes that require price reductions to sell, but this could be inferred from the broader market trends in Bloomington, IN.
The real estate listings show a mix of property types, including houses, townhouses, and condos, indicating a diversified housing market. The range of prices from affordable to luxury properties reflects the economic diversity of the area.
The verdict on Section 8 in ZIP 47405 is positive, given the established FMR and the active real estate market, which provides ample opportunities for landlords and investors to engage effectively with the program.
Data Sources: FMR data from HUD (2027). Demographics from U.S. Census (2024).
About FMR: Fair Market Rent (FMR) is used to determine payment standards for the Section 8 Housing Choice Voucher program, initial renewal rents for some expiring project-based Section 8 contracts, and rent ceilings for HOME Investment Partnerships.