Location: Bloomington, IN | Metro: Bloomington, IN HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $940 |
| 1 Bedroom | $1,020 |
| 2 Bedrooms | $1,170 |
| 3 Bedrooms | $1,500 |
| 4 Bedrooms | $1,810 |
| 5 Bedrooms | $2,100 |
| 6 Bedrooms | $2,352 |
| 7 Bedrooms | $2,540 |
| 8 Bedrooms | $2,667 |
U.S. Census Bureau data (2024)
The analysis of ZIP 47434 within the HUD Metro FMR Area of Bloomington, IN, reveals several key points that are crucial for landlords and small-portfolio investors.
The rent math does not work favorably for landlords. The Fair Market Rent (FMR) for the zip code in fiscal year 2024 is set at $1020. However, due to the lack of available market rent data, it's difficult to make an exact comparison. This suggests that landlords may struggle to compete with the subsidized rental rates if market rents are higher than the FMR.
Acquisition in this area is not straightforward due to the absence of specific data on median home values, days on market (DOM), and the percentage of homes that have been subject to price cuts. Without these figures, it's challenging to assess the affordability and potential profitability of acquiring properties in ZIP 47434. Investors should seek additional local market insights to make informed decisions.
Tenant demand appears to be low based on the available data. The zip code has a population of 13, with a 0.0% renter share. This indicates that the vast majority of residents are likely homeowners, reducing the pool of potential tenants significantly. Such a small population size also limits the overall demand for rental properties.
In conclusion, ZIP 47434 presents challenges for both rent pricing and tenant acquisition. With a low population count and a minimal renter share, the area lacks the necessary tenant demand. Additionally, the absence of market rent data and property acquisition metrics makes it difficult to recommend investment in this zip code without further investigation into local housing trends and economic conditions.
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.