Updated 2026 · Based on median market data for Bloomington, IL
The median monthly rent in Bloomington, IL is $1,100, translating to $13,200 in annual gross rental income per unit. The rent-to-price ratio is 0.59% — well below the 1% rule, making pure cash flow investing challenging at median prices.
Renters in Bloomington spend approximately 21% of the local median household income ($62,400) on rent. This is well below the 30% threshold, suggesting significant headroom for rent increases. Tenants can afford to pay more, which is bullish for landlords.
The vacancy rate in Bloomington is 5.5%. This is a healthy vacancy rate that indicates balanced supply and demand. You should be able to find quality tenants without extended vacancies, though expect normal turnover periods of 2-4 weeks between tenants. Population growth of 0.3% annually provides stable demand.
Bloomington's GRM (price divided by annual rent) is 14.0x. A GRM between 12-16x is moderate and typical of balanced markets. Deals can work but you need to keep expenses controlled. For comparison, the national average GRM for investment-grade rentals is approximately 13-15x.
At the median rent of $1,100/mo, a single-family rental in Bloomington generates approximately $13,200 in gross annual income. After accounting for 5.5% vacancy ($726 lost), property taxes of $3,737, insurance (~$740), and maintenance (~$740), the estimated NOI is $7,257 per year, or $605/mo.