The Bloomington housing market is largely occupied by students who attend Indiana University. For many years, there has been a variety of housing varying in quality, location, and especially pricing, all in an attempt to account for the diverse needs of the students; however, in recent years, this culture has drastically changed. A new type of housing has begun to show up around the city. 

Large apartment complexes have sprung up all around Bloomington. These new residences typically have nicer amenities and come with more perks than traditional housing, causing these apartments to have higher prices. Unfortunately, these new, more expensive apartment complexes often take the place of more affordable housing, and many affordable complexes have been torn down in the last few years to make space for these new buildings. 

This switch from more affordable apartments to more luxurious apartments that charge over a thousand dollars a month has drastically changed the average rate of rent in Bloomington. This has left many students with less options for affordable housing. 

Take Indiana University student, Zach Humphrey, as an example. Zach is a junior at IU who has been affected by this uptake in Bloomington housing prices. Zach is a hard-working student studying marketing in the Kelley School of Business. When he isn’t studying for his courses, a great deal of his time is spent working so that he is able to pay his rent. With a busy school schedule, and minimal time for extras, Zach still manages to work as a teaching assistant and a marketing intern with the school to earn money. 

“Looking for housing can sometimes feel impossible. Finding a place that works for me, but I can also pay for, has gotten very difficult” said Humphrey. 

But Humphrey isn’t alone in feeling like this. The increase in pricing for these luxurious apartments has also affected the pricing of affordable housing options and properties in the area as well, affecting many students. With the average monthly rate rapidly increasing, many other leasing companies have decided to increase their rent simply because they can. In the past four years, the average rent for a one person studio apartment has increased by over $400. However, even with increased rates all over the city, these older options are still significantly cheaper than these newer deluxe options.

Local realty agent, Lisa Karmen, a member of Bryan Rental, opened up about her personal experience and feelings surrounding the new apartment complexes in Bloomington.

With new complexes having the ability to open around town at free will, it seems as though we will continue to see new expensive apartment complexes being built. As it stands now, it seems that the only possible route for change would be through the local government stepping in; however, the local government may be less inclined to step in due to the revenue that these new complexes are able to bring in. 

Prices for these apartments also are not required to stay the same throughout the year. So, as the hunt for an affordable lease has already begun for next year, now is the cheapest they might ever be.