We have re-examined the relation between the mass of the central black holes in nearby galaxies, M bh , and the stellar mass of the surrounding spheroid or bulge, M bulge . For a total of 30 galaxies bulge masses were derived through Jeans equation modeling or adopted from dynamical models in the literature. In stellar mass-to-light ratios the spheroids and bulges span a range of a factor of eight. The bulge masses were related to well-determined black hole masses taken from the literature. With these improved values for M bh , compared to Magorrian et al. (1998), and our redetermination of M bulge , we find the M bh − M bulge relation becomes very tight. We find M bh ∼ M 1.12±0.06 bulge with an observed scatter of 0.30 dex, a fraction of which can be attributed to measurement errors. The scatter in this relation is therefore comparable to the scatter in the relations of M bh with σ and the stellar concentration. These results confirm and refine the work of Marconi and Hunt (2003). For M bulge ∼ 5 × 10 10 M ⊙ the median black hole mass is 0.14% ± 0.04% of the bulge mass.