ZIP Code · IN

ZIP 47404

Part of Bloomington, IN

Pop. 22,744·Monroe County·37th most expensive ZIP in Indiana

Median rent (all units)

$1,634/mo

Year-over-Year

+0.6%

Month-over-Month

-0.2%

vs US Median

-$298

Reported rents

Stable (Monthly)

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Most AffordableMost Expensive

ZIP 47404 · $1,634

More affordable than 63% of US ZIP codes · National median $1,932/mo

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Medians by bedroom

Rent by unit size

Studio

$990

1 BR

$1,100

2 BR

$1,240

3 BR

$1,610

4 BR+

$1,950

Research median

$1,240/mo

Bedroom estimates are gross rents that include essential utilities (electricity, water, gas, sewer, trash).

Rent trends

12-month history

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Last updated: October 17, 2026

From the history

What the numbers show

Compared with the peak

Rent in ZIP 47404 is 0.5% below its high of $1,642 in July 2026, at $1,634 as of September 2026.

Past year vs. the rest of Indiana

Rent in ZIP 47404 changed +0.6% over the year to September 2026. Across the 114 Indiana ZIP codes Zillow tracks, the typical change was +3.9%.

Recent direction

Rent has fallen 2 months in a row, and rose in 7 of the last 12 months.

What a typical income covers

30% of the median household income ($61,389) is $1,535 a month. That covers HUD's Fair Market Rent for up to a 2-bedroom ($1,240); a 3-bedroom is $1,610.

Rank in Bloomington

2nd cheapest of 4 ZIP codes in Bloomington.

Cheaper nearby

ZIP 47403, 9 miles away, rents for 17% less ($1,360/mo), about $3,300 a year in savings.

From Zillow's monthly rent index (ZORI) for ZIP 47404. Income is the Census median household income (5-year estimates). Fair Market Rents are HUD’s, which include utilities.

Annual cost

$19,608/yr

At $1,634/mo median

Location

CityBloomington

StateIN

CountyMonroe County

Rent Market Meter

Balanced Market

Renter's MarketBalancedLandlord's Market

Rents are roughly steady, with neither renters nor landlords holding a strong edge right now.

Based on rent-price momentum (+0.6% YoY, -0.2% MoM), not inventory.

Demographics

Who lives here

ZIP 47404 (Bloomington, IN) is majority owner-occupied, skews toward younger working-age adults, has a median income below the national average, 45% of residents hold a bachelor's degree or higher.

Population

22,744

Median income

$61,389

Median age

34.4

Renters

42.2%

Age distribution

19.1%

32.5%

23.9%

14.4%

Under 1819.1%

18–3432.5%

35–5423.9%

55–6410.1%

65+14.4%

Gender

51.3%

48.7%

Male51.3%

Female48.7%

Race & ethnicity

81.4%

White81.4%

Black5.2%

Hispanic4.4%

Asian4%

Other5%

Education (25+)

23%

26.3%

45%

No HS diploma5.7%

HS diploma23%

Some college26.3%

Bachelor's+45%

Housing tenure

57.8%

42.2%

Owner57.8%

Renter42.2%

Source: U.S. Census Bureau · ACS 2024 5-Year Estimates

2023 vs 2026

How ZIP 47404 in Bloomington, IN has changed in 5 years

Rent

$1,446 → $1,634

up 13.0%

Income

$47,121 → $61,389

up 30.3%

Population

23,910 → 22,744

down 4.9%

Renter share

45.2% → 42.2%

-3.0 pts

Bachelor's+

40.4% → 45%

+4.6 pts

Median age

32.5 → 34.4

+1.9 yrs

Compared with 2023, rent in ZIP 47404 in Bloomington, IN has increased by $188 per month, settling near $1,634 after starting the period at $1,446. On the earnings side, the typical household in ZIP 47404 in Bloomington, IN now reports about $61,389, up from $47,121 in 2021. Income growth outran rent by about 17.3 percentage points, easing the affordability math somewhat compared with 2021. Headcount in the area went from 23,910 to 22,744 between 2021 and 2024, a 4.9% change. About 42.2% of households rent today, against 45.2% in 2021. Educational attainment has shifted as well, with the share of adults holding a bachelor's degree or higher climbed from 40.4% to 45%. For context, the 2023 to 2026 window covers an unusually volatile run for US rents nationally, and ZIP 47404 in Bloomington, IN reflects that arc in its own way.

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About renting in ZIP 47404

Last updated: October 17, 2026

ZIP code 47404 covers Bloomington, IN. The median rent here is $1,634/mo as of October 2026. A 1-bedroom rents for a median of $1,100/mo. A 2-bedroom rents for a median of $1,240/mo.

At 32% of local median household income ($61,389/yr), ZIP 47404 ranks as moderate compared to the national benchmark of 30%. Rents have increased 0.6% over the past year.

FAQ

Frequently asked questions

How much income do you need to rent in ZIP 47404?

To keep rent at or below 30% of gross income, you would need to earn at least $65,000/year (about $31/hour full-time) to afford the median rent of $1,634/mo in ZIP 47404. The local median household income is $61,389/yr, so the typical household falls short of that bar.

Is rent going up or down in ZIP 47404?

Rent in ZIP 47404 has risen 0.6% over the past year as of September 2026. It sits 0.5% below its high of $1,642 in July 2026.

How does ZIP 47404 compare to other ZIPs in Indiana?

ZIP 47404 is one of the pricier among Indiana ZIP codes for rent, ranking #37 of 139 at $1,634/mo. Over the year to September 2026, rent in ZIP 47404 changed +0.6%, against a typical +3.9% across the 114 Indiana ZIP codes Zillow tracks.