I think it is too young also. And your daughter obviously enjoys and needs the routine of you picking her up.
My children used to catch the bus together last year, and now that James has started high school, I no longer allow Madeleine to catch the bus alone. I do feel that she is too young to catch it on her own and she is almost 10... my only reason is that if for some reason I may be running late in picking her up from the bus stop, I don't like the thought of my 10yr old daughter waiting at the bus stop alone.
I hope you find a great house near to the school