$15,100 Per Month
- 9 Beds
- 9 Baths
- 4,750 Sq Ft
- Condo for Rent
508 N Washington St Unit 508 N Washington, Bloomington, IN 47408
Frequently Asked Questions
How much does it cost to rent a home in Bloomington, IN?
The median rent for a home in Bloomington, IN is $2,699 per month, though prices vary by neighborhood, size, and property type. As of August 2026, condos tend to be the most affordable option while single-family homes and townhouses are currently more expensive.
How much do you need to make to afford rent in Bloomington, IN?
To comfortably afford the median rent in Bloomington, IN, a household needs to earn roughly $107,960 per year. This is based on the common guideline that households should spend no more than 30% of gross income on housing. Most landlords require monthly household income of at least 3x the monthly rent, and with a median rent of $2,699 per month in Bloomington, IN, renters typically need to show $8,097 per month in gross income to qualify. Actual affordability will vary depending on household debts, other living expenses, and overall budget.
Is it more affordable to rent or buy in Bloomington, IN?
In Bloomington, IN, the price-to-rent ratio is 10.0, which generally favors renting. This ratio divides the median home price by the annual median rent: below 15 typically favors buying, 15 to 20 is balanced, and above 20 typically favors renting. Your finances, how long you plan to stay, and costs like mortgage rates, taxes, and maintenance all factor into the decision.
What neighborhoods in Bloomington, IN are best for renting a home?
The best neighborhood for renting in Bloomington, IN depends on your priorities: commute, walkability, budget, and lifestyle all play a role. Popular areas for renting a home include Old Northeast, Green Acres, Elm Heights, Maple Heights and Prospect Hill, each with its own character and price range.
