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ZIP Code · IN

ZIP 47408

Pop. 23,053·Monroe County·36th most expensive ZIP in Indiana
Median rent (all units)
$1,675/mo
Year-over-Year
+16.3%
Month-over-Month
-2.2%
vs US Median
-$290
Falling (Monthly)
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Most AffordableMost Expensive
ZIP 47408 · $1,675
More affordable than 61% of US ZIP codes · National median $1,965/mo
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Medians by bedroom

Rent by unit size

Studio
$960
1 BR
$1,060
2 BR
$1,200
3 BR
$1,560
4 BR+
$1,890
Research median
$1,200/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: July 20, 2026

Annual cost
$20,100/yr
At $1,675/mo median
Location
StateIN
CountyMonroe County
Rent Market Meter
Strong Landlord's Market
Renter's MarketBalancedLandlord's Market
Rents are up 16.3% year-over-year. Expect competition, and move quickly to lock in terms.
Based on rent-price momentum (+16.3% YoY, -2.2% MoM), not inventory.
Demographics

Who lives here

ZIP 47408 (Bloomington, IN) is majority renter-occupied, skews toward younger working-age adults, has a median income below the national average, 57% of residents hold a bachelor's degree or higher.

Population
23,053
Median income
$45,644
Median age
23.3
Renters
64.2%
Age distribution
59.7%
13.5%
12%
Under 188.9%
18–3459.7%
35–5413.5%
55–645.8%
65+12%
Gender
53.4%
46.6%
Male53.4%
Female46.6%
Race & ethnicity
80.9%
White80.9%
Black2%
Hispanic4.8%
Asian9.6%
Other2.7%
Education (25+)
16.8%
22.8%
57%
No HS diploma3.4%
HS diploma16.8%
Some college22.8%
Bachelor's+57%
Housing tenure
35.8%
64.2%
Owner35.8%
Renter64.2%

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

2021 vs 2026

How ZIP 47408 in Bloomington, IN has changed in 5 years

Income
$38,910 → $45,644
up 17.3%
Population
21,752 → 23,053
up 6.0%
Renter share
64.4% → 64.2%
-0.2 pts
Bachelor's+
56% → 57%
+1.0 pts
Median age
24.5 → 23.3
-1.2 yrs

Local incomes tracked alongside that move, going from a median of $38,910 in 2021 to $45,644 more recently. Headcount in the area went from 21,752 to 23,053 between 2021 and 2024, a 6.0% change.

Community

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Local insights

Tips for renters in ZIP 47408

About renting in ZIP 47408

Last updated: July 20, 2026

ZIP code 47408 covers Bloomington, IN. The median rent here is $1,675/mo as of July 2026. A 1-bedroom rents for a median of $1,060/mo. A 2-bedroom rents for a median of $1,200/mo.

At 44% of local median household income ($45,644/yr), ZIP 47408 ranks as moderate compared to the national benchmark of 30%. Rents have increased 16.3% over the past year.

FAQ

Frequently asked questions

How much is rent in ZIP code 47408?

As of July 20, 2026, the median monthly rent in ZIP 47408 (Bloomington, IN) is $1,675. This is based on aggregated data from public sources and community submissions.

How does ZIP 47408 rent compare to the US average?

ZIP 47408's median rent of $1,675/mo is $290 (15%) below the US national median of $1,965/mo.

How does ZIP 47408 compare to other ZIPs in Indiana?

ZIP 47408 is one of the pricier ZIP codes in Indiana, ranking #36 out of 144 ZIPs tracked at $1,675/mo.

How much income do you need to rent in ZIP 47408?

To keep rent at or below 30% of gross income, you would need to earn at least $67,000/year (~$32/hour full-time) to afford the median rent of $1,675/mo in ZIP 47408. The local median household income is $45,644/yr, meaning the typical household falls short of that threshold.

Is rent going up or down in ZIP 47408?

Rent in ZIP 47408 has increased 16.3% over the past year as of July 20, 2026, putting upward pressure on renter budgets.

Is ZIP 47408 an affordable place to rent?

ZIP 47408 is considered stretched for renters. At $1,675/mo, rent takes approximately 44% of the local median household income ($45,644/yr). The standard benchmark is 30%. ZIP 47408 significantly exceeds that threshold, making it challenging for many renters.

What percentage of ZIP 47408 residents rent vs. own?

According to Census data, approximately 64.2% of ZIP 47408 households are renters, while 35.8% are owner-occupied. With a majority renter population, ZIP 47408 has a strong rental market.

How does ZIP 47408 compare to the rest of Bloomington?

ZIP 47408 is pricier than Bloomington as a whole. At $1,675/mo, it's $231 above the Bloomington citywide median of $1,444/mo.

When was rent data for ZIP 47408 last updated?

Rent data for ZIP 47408 reflects July 20, 2026. RentDataNow refreshes all data monthly using public and private datasets.
Income Affordability
44%
STRETCHED

At $1,675/mo, rent takes ~44% of ZIP 47408's median household income ($45,644/yr). The standard benchmark is 30%.

ZIP 47408 44%Benchmark 30%
State income tax3.05%
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Schools nearby

Public schools near ZIP 47408 (Bloomington, IN)

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