Bloomington appreciation rates and housing market information

Bloomington housing market information

With 69,229 people, 28,359 houses or apartments, and a median cost of homes of $195,892, Bloomington real estate is some of the most expensive in Indiana, although Bloomington home values aren't among America's most expensive.

large apartment complexes or high rise apartments are the single most common housing type in Bloomington, accounting for 41.47% of the city's housing units. Other types of housing that are prevalent in Bloomington include single-family detached homes (37.08%), duplexes, homes converted to apartments, or other small apartment buildings (12.11%), row houses and other attached homes (5.86%), and a few mobile homes or trailers (3.41%). Cities with mostly row houses, apartments, and other high density housing types are relatively uncommon, and characteristic of compact cities that frequently have a downtown or other neighborhoods where amenities are within walking distance and a lot of street life can be seen.

People in Bloomington primarily live in small (one, two, or no bedroom) units, chiefly found in large apartment complexes or high rise apartments. Bloomington has a mixture of owner-occupied and renter-occupied housing.

There is a lot of housing in Bloomington built from 1970-1994, so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Bloomington built from 1940-1969 (31.56%). A lesser amount of the housing stock also hails from 1995 and later (12.77%), and some were built from 1939 and earlier (12.77%).

Bloomington home appreciation rates

Bloomington's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Bloomington during the period has been just 5.86%, which is lower than % of US communities.

Appreciation rates are so strong in Bloomington that despite a nationwide downturn in the housing market, Bloomington real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Bloomington appreciation rates continue to be some of the highest in America, at 4.78%, which is higher than appreciation rates in 89% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Bloomington. Bloomington appreciation rates in the latest quarter were at 2.35%, which equates to an annual appreciation rate of 9.40%.

Importantly, this makes Bloomington one of the highest appreciating communities in the nation for the latest quarter, and may signal the city's near-future real estate investment strength.

Relative to Indiana, our data show that Bloomington's latest annual appreciation rate is higher than 82% of the other cities and towns in Indiana.

One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Bloomington differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Bloomington - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 1990, to assist you in making the best Bloomington real estate investment or home purchase decisions.