Bloomington appreciation rates and housing market information

Bloomington housing market information

With 85,202 people, 37,098 houses or apartments, and a median cost of homes of $260,784, Bloomington real estate is some of the most expensive in Minnesota, although Bloomington home values aren't among America's most expensive.

single-family detached homes are the single most common housing type in Bloomington, accounting for 57.83% of the city's housing units. Other types of housing that are prevalent in Bloomington include large apartment complexes or high rise apartments (29.83%), row houses and other attached homes (9.20%), duplexes, homes converted to apartments, or other small apartment buildings (2.53%), and a few mobile homes or trailers (0.62%).

Owner-occupied, three and four bedroom single-family detached homes are the most prevalent type of housing you will see in Bloomington. Owner-occupied housing accounts for 69.32% of Bloomington's homes, and 51.30% have either three or four bedrooms, which is average sized relative to America.

At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. Bloomington's housing was primarily built during this period, from the '40s through the '60s. A full 50.81% of the city's housing hails from this era. Other housing ages represented in Bloomington include homes built between 1970-1994 (44.67%), and housing constructed from 1995 and later (2.32%). There's also some housing in Bloomington built between 1939 and earlier (2.20%).

Bloomington home appreciation rates

Real estate appreciation rates in Bloomington have tracked to near the national average over the last ten years, with the annual appreciation rate averaging 6.40% during the period.

Over the last year, Bloomington appreciation rates have trailed the rest of the nation. In the last twelve months, Bloomington's appreciation rate has been -5.97%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Bloomington were at 0.40%, which equates to an annual appreciation rate of 1.60%.

Relative to Minnesota, our data show that Bloomington's latest annual appreciation rate is higher than 7% of the other cities and towns in Minnesota.

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.