The story of this market
The typical home in ZIP 47404 sells for about $325,000, or $200 per square foot.
Prices are down 4.5% from a year ago, which gives buyers more room to negotiate. Homes take about 51 days to sell. HUD's fair market rent for a two-bedroom is $1,148 a month.
ZIP 47404 — Bloomington
The market is transitioning into a balanced state, correcting from previous hyper-competitive levels. This provides a more sustainable environment for both buyers and sellers, supported by steady local demand from the university and diversified local industries.
Fits investors due to student housing demand, academic professionals, and families seeking stable school districts and proximity to a regional hub.
Median prices moved down 4.5% year over year.
Homes spend a median of 51 days on market with 4.8 months of supply — a fast-moving market.
18% of listings have cut prices · homes sell at 99% of asking — demand is running ahead of supply.
no recorded foreclosure-ledger notices (0.0 per 10,000 residents) · unemployment 4.0% · poverty 16.7% — a stable, low-distress profile.
versus the prior ACS vintage
in-migration and out-migration balanced
ZCTA 47404, Monroe County, Indiana
ACS 2024 5-year estimates. Aggregate published statistics for this ZIP — never individual records, and never an attribute of any individual property or resident.
The area is considered safe relative to many regional peers, with an overall crime safety grade of B. While property crime rates are occasionally reported as above national averages, violent crime rates remain notably lower than national benchmarks.
Residents are served by the Monroe County Community School Corporation, which is generally highly regarded with many schools within the district receiving A-ratings for academics and college preparation.
The area faces a moderate flood risk (FEMA zone X, 500-year event risk), while wildfire risk is considered low. Property insurance is not mandatorily tied to federal flood requirements for most residents in this zone.
Bloomington’s growth is anchored by Indiana University and a mix of healthcare, technology, and manufacturing sectors. Infrastructure and development momentum are steady, supported by institutional investment.
Composed from the ARED governance burden registry — tier-native tax structure (state + county + city + special districts), never averaged. State (Indiana) — Ad Valorem Property Assessment: Property is assessed at 100% of true tax value, determined by market-based assessment systems and annual adjustments. State (Indiana) — Standard Homestead Deduction: Removes the first $45,000 of the homestead's assessed value from taxation. State (Indiana) — Indiana Property Tax Caps (Circuit Breaker): Limits annual property tax liability to 1% of gross assessed value for principal residences, 2% for other residential property, and 3% for non-residential property.
The area offers reasonable access to the Bloomington employment core, with average commute times remaining under 20 minutes for most residents.
High accessibility to parks, trails, and cultural amenities near the Indiana University campus and downtown Bloomington within a 3-mile radius.
Market depth is significant due to the student population; vacancy pressure is low during the academic year, with rent trajectories stable or rising.
Education (Indiana University), healthcare (IU Health), and manufacturing (Cook Group) are primary economic drivers.
The area is served by local bus transit and highway corridors connecting to the broader Bloomington employment core.
Steady residential and mixed-use development pipeline catering to university staff and students.
Parcels are subject to standard municipal, school, and county taxing districts; no unique MUDs or PIDs typically reported in the immediate area.
Standard insurance posture; flood insurance is recommended but not mandatory for most residential parcels.
Data retrieved from data.census.gov ZCTA 47404 tables.
Public schools whose reported address is in this area (NCES). Not attendance boundaries — schools that serve residents may sit outside it. Check the district's address locator for assignment.
Major anchor for local culture, sports, and employment.
Popular multi-use trail for walking and cycling.
Key-figure check: no independent anchor retained yet — first-researched cycles establish the anchor baseline this pass.