Bloomington, IL
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Bloomington, IL Real Estate Data


Bloomington Housing Market Information

With 78,292 people, 31,110 houses or apartments, and a median cost of homes of $157,140, Bloomington real estate and house prices are near the national average for all cities and towns.

Single-family detached homes are the single most common housing type in Bloomington, accounting for 56.34% of the city's housing units. Other types of housing that are prevalent in Bloomington include large apartment complexes or high rise apartments ( 23.72%), duplexes, homes converted to apartments or other small apartment buildings ( 10.00%), and a few mobile homes or trailers ( 4.98%).

The most prevalent building size and type in Bloomington are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 59.79% owning and 40.21% renting.

There is a lot of housing in Bloomington built from 1970 to 1999 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 between 1940-1969 ( 19.76%). A lesser amount of the housing stock also hails from between 2000 and later ( 18.72%). There's also some housing in Bloomington built before 1939 ( 17.03%).

Bloomington Home Appreciation Rates

Real estate appreciation rates in Bloomington's have tracked to near the national average over the last then years, with the annual appreciation rate averaging -0.21% 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 0.87%, 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 0.53%, which equates to an annual appreciation rate of 2.14%.

Relative to Illinois, our data show that Bloomington's latest annual appreciation rate is lower than 80% of the other cities and towns in Illinois.

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 2000, to assist you in making the best Bloomington real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$157,140

Bloomington, IL HOME PRICES

Value Range
> $1,011,000 0.0
$758,001 - $1,011,000 0.1
$506,001 - $758,000 1.0
$405,001 - $506,000 3.1
$303,001 - $405,000 6.9
$202,001 - $303,000 19.5
$101,001 - $202,000 45.2
$50,001 - $101,000 16.8
$0 - $50,000 7.4

High for IL
Average for Nation

Value Relative to Nation Value Relative to State
46.6600257822571 39.3670886075949

Number Of Homes And Apartments:
31,110

Rent & Ownership

 

Average Market Rent:
$873 / per month

Homeownership Rate

Homeownership
Owners 59.79
Renters 40.21
Vacant 7.65

Housing Market Details

 

Age of Homes

AGE OF Bloomington HOMES
2000 or Newer 18.7
1970 - 1999 44.5
1940 - 1969 19.8
1939 or Older 17.0

Types of Homes

TYPE OF Bloomington HOMES
Single-Family 56.3
Townhomes 4.9
Small Apt. Buildings 10.0
Apt. Complexes 23.7
Mobile Homes 5.0
Other 0.1

Home Size

SIZE OF Bloomington HOMES
No Bedroom 2.18
1 Bedroom 12.62
2 Bedrooms 30.58
3 Bedrooms 28.57
4 Bedrooms 20.38
5 or more bedrooms 5.67

Bloomington Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
IL*
Compared To
America*
Latest Quarter:
2016 Q3 - 2016 Q4
Last 12 Months:
2015 Q4 - 2016 Q4
Last 2 Years:
2014 Q4 - 2016 Q4
Last 5 Years:
2011 Q4 - 2016 Q4
Last 10 Years:
2006 Q4 - 2016 Q4
Since 2000:
2000 Q1 - 2016 Q4
18.26% 0.98% 4 2
* 10 is highest