menu
Data on this report is based on areas within the legal city boundary, outlined in black on the map. Any additional neighborhoods shown on the map are associated with the city by name and are included for reference only.



Bloomington, IL Real Estate Market

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q4 2023. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2022 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Bloomington, IL Housing Market Trends

With a population of 78,864, 33,885 total housing units (homes and apartments), and a median house value of $252,937, 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 54.83% of the city's housing units. Other types of housing that are prevalent in Bloomington include large apartment complexes or high rise apartments ( 26.54%), duplexes, homes converted to apartments or other small apartment buildings ( 8.63%), and a few row houses and other attached homes ( 5.33%).

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 59.55% owning and 40.45% 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 2000 and later ( 22.21%). A lesser amount of the housing stock also hails from between 1940-1969 ( 20.09%). There's also some housing in Bloomington built before 1939 ( 14.56%).

Bloomington Home Appreciation Rates

Some of the lowest real estate appreciation rates in America over the last ten years have been in Bloomington, where house values have increased just 44.46%, which is annualized rate of 3.75%. This rate is lower than the appreciation rate found in 90% of the cities and towns in America.

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 6.68%, which is higher than appreciation rates in 72.23% 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 -1.96%, which equates to an annual appreciation rate of -7.61%.

Notably, Bloomington's appreciation rate in the latest quarter is one of the lowest in America.

Relative to Illinois, our data show that Bloomington's latest annual appreciation rate is higher 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

$252,937

Bloomington, IL Home Prices
> $1,334,000
$1,001,001 - $1,334,000
$667,001 - $1,001,000
$534,001 - $667,000
$400,001 - $534,000
$267,001 - $400,000
$133,001 - $267,000
$67,001 - $133,000
$0 - $67,000
0.0%
0.0%
0.3%
0.3%
2.3%
2.3%
4.9%
4.9%
10.4%
10.4%
25.6%
25.6%
40.8%
40.8%
10.1%
10.1%
5.6%
5.6%
0% 100.0%
% of Homes
High

for Illinois

Average

for nation

Number of Homes And Apartments:

33,885

Bloomington Appreciation Rates

Rent & Ownership

Average Market Rent:

$1,607 / per month

Homeownership Rate

Owners
Renters
59.6%
59.6%
40.4%
40.4%
0% 100.0%
% of Homes

Vacancy Rate

Vacant
Occupied
7.7%
7.7%
92.3%
92.3%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
22.2%
22.2%
43.1%
43.1%
20.1%
20.1%
14.6%
14.6%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
54.8%
54.8%
5.3%
5.3%
8.6%
8.6%
26.5%
26.5%
4.7%
4.7%
0.0%
0.0%
0% 100.0%
% of Homes

Home Size

No Bedroom
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 or more bedrooms
2.4%
2.4%
13.5%
13.5%
30.6%
30.6%
29.6%
29.6%
18.0%
18.0%
5.9%
5.9%
0% 100.0%
% of Homes