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Housing and Redevelopment Authority: HRA informational links:
Community Development Divisions:
Related links: |
2011 Rental SurveyPurposeEach year the Bloomington housing and Redevelopment Authority conducts a rental survey to assess the rental housing market in the city of Bloomington. One of the uses for the information gathered in the survey is to establish payment standards for the Bloomington Housing and Redevelopment Authority's housing assistance programs. MethodologyThe information in this report is the result of a city wide mail survey sent and collected during July and August 2011. Rental surveys were sent to approximately 1,200 licensed rental properties in the City with the exclusion of boarding houses, single room rentals, hotel rooms and subsidized units. Over 850 Landlords and apartment managers were contacted representing multi-unit apartment buildings, duplexes, for-rent single family homes, town homes and condos. Over 500 landlords and property managers responded representing a total of 7,672 (77%) of the 9,900 rental housing units in Bloomington. Results
Bloomington's rental market is predominately composed of one, two and three bedroom units in multi-family buildings. Larger units consisting of four or more bedrooms are found in single family dwellings, including duplexes and townhouses. The number of single family dwelling units in the rental market has increased from 600 in 2006 to 900 in 2011. For 2011, one, two and three bedroom units had increases in contract rents; efficiencies saw a decrease and four bedrooms remained the same. There was a 1.5% decrease in the rental rate for efficiency (0 bedroom) units. One, two and three bedroom units had a 0.27%, 2.67% and a 4.17% increase respectively. The rent for four bedroom units remained the same at a median contract rent of $1,400.00. This represents a slight overall increase in rents from the 2010 rates. See the following table for a comparison of rents from 2006 - 2011.
This year's survey also tracked vacancy rates. The table below shows a comparison of vacancy rates from 2006 to 2011. There has been a significant decrease in the vacancy rate for 2011, which ranges from a low 0.00% for a four bedroom unit to 2.44% for a one bedroom unit. The following chart gives further detail to the 2011 vacancy rates, as well as a comparison to past survey results.
For more information, contact:
Bloomington HRA
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