The story of this market
The typical home in ZIP 47408 sells for about $340,060, or $199 per square foot.
Prices are up +2.4% from a year ago, so sellers still have some momentum. Homes take about 60 days to sell. HUD's fair market rent for a two-bedroom is $1,215 a month.
ZIP 47408 — Bloomington
The housing market in ZIP 47408 is currently balanced with stable demand driven by the university and life sciences sectors. Typical home values have seen a modest year-over-year increase, while inventory remains tight. The area continues to attract academic professionals and families, supporting a resilient rental and sales market.
This area primarily fits students, academic professionals, and families seeking proximity to university-related amenities and top-rated public elementary schools.
Median prices moved up 2.4% year over year.
Homes spend a median of 60 days on market with 0.0 months of supply — a balanced-paced market.
0% of listings have cut prices · homes sell at 98% of asking — demand is running ahead of supply.
no recorded foreclosure-ledger notices (0.0 per 10,000 residents) · unemployment 5.1% · poverty 33.8% — a mixed stability profile.
versus the prior ACS vintage
in-migration and out-migration balanced
ZCTA 47408, 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 crime rate in Bloomington is generally considered lower than 70% of major U.S. cities, though safety varies by neighborhood. The 47408 ZIP code specifically holds a safety index of 99.
Schools serving this area, including University Elementary and Marlin Elementary, are highly rated and perform well above the state average in proficiency scores.
The area faces standard risks common to the region, including fire and severe weather. While Indiana's overall insurance premiums are below the national average, specialized flood coverage may be recommended for certain zones.
Driven by Indiana University and a strong life sciences sector including Cook Medical, Catalent, and Baxter/Simtra, the local economy benefits from a stable employment base and high tech-industry demand.
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.
Most residents utilize personal vehicles or local transit provided by the city. Proximity to the university facilitates shorter commutes for students and faculty.
The area provides access to Lake Monroe, numerous local parks, and the cultural and shopping districts surrounding Indiana University.
High demand is driven by the university, resulting in high vacancy pressure and seasonal turnover.
The economy is dominated by Indiana University, the life sciences sector including Cook Medical, and healthcare services provided by IU Health.
The area is served by local city transit and highway corridors connecting to the broader Bloomington employment core.
Ongoing development is focused on expanding laboratory space and mixed-use housing near the university corridor.
Parcels are primarily subject to Monroe County Community School Corp levies.
Standard homeowners and landlord insurance are widely available, though flood insurance is advised for high-risk zones.
Data sourced from 2024 ACS estimates and local market reports.
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 institution and cultural hub.
Large recreational reservoir serving the region.
Numerous community green spaces throughout the ZIP.
Key-figure check: no independent anchor retained yet — first-researched cycles establish the anchor baseline this pass.