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Rental Homes for Future Homebuyers Program

Waiting list status: OPEN

The Rental Homes for Future Homebuyers Program helps families save money to buy a home, while renting one of 21 single-family homes in Bloomington. When accepted to the program, the HRA will save a portion of the family's rent each month to use as a down payment when they buy a home. Participants must be willing to enter into a five-year contract to identify the goals they need to complete to become a homeowner.
Rental Homes Kitchen
The Bloomington Housing and Redevelopment Authority (HRA) is currently taking applications for the waiting list for the Rental Homes for Future Homebuyers Program. This program serves families of three to six people who meet income requirements. Eligible families will rent a three-bedroom single-family home from the HRA for a maximum of five years.

All families must have at least three and not more than six family members. Qualified families must also earn at least $25,980 per year and have good credit and rental histories. Families must be able to pay the minimum rent and utilities of approximately $1,104 per month. In addition, the HRA will review any criminal records and verify that all household members have citizenship or eligible immigration status.

The HRA is currently accepting applications to be placed on the Rental Homes waiting list. Each year, about three to five new families enter the program.

Rental Homes Living Room House

Rental Homes for Future Homebuyers Flyer

Rental Homes for Future Homebuyers Application