Bloomfield, IN 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 2020. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2019 (latest available). Updated annually.

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

Bloomfield, IN Housing Market Trends

With 2,300 people, 1,092 houses or apartments, and a median cost of homes of $106,101, house prices in Bloomfield are some of the most affordable in Indiana as well as the nation.

Single-family detached homes are the single most common housing type in Bloomfield, accounting for 69.30% of the town's housing units. Other types of housing that are prevalent in Bloomfield include large apartment complexes or high rise apartments ( 13.98%), duplexes, homes converted to apartments or other small apartment buildings ( 8.75%), and a few mobile homes or trailers ( 6.48%).

Dwellings in Bloomfield tend to be quite small (one, two, or no bedrooms) and owner occupied. In fact, 48.67% of the homes in Bloomfield have two or fewer bedrooms.

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. Bloomfield's housing was primarily built during this period, from the '40s through the '60s. A full 39.06% of the town's housing hails from this era. Other housing ages represented in Bloomfield include homes built between 1970-1999 ( 30.16%) and housing constructed before 1939 ( 24.92%). There's also some housing in Bloomfield built between 2000 and later ( 5.86%).

Vacant housing appears to be an issue in Bloomfield. Fully 14.69% of the housing stock is classified as vacant. Left unchecked, vacant Bloomfield homes and apartments can be a drag on the real estate market, holding Bloomfield real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.

Bloomfield Home Appreciation Rates

Bloomfield's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Bloomfield during the period has been just 1.79%, which is lower than 70% of US communities.

NeighborhoodScout's data show that during the latest twelve months, Bloomfield's appreciation rate, at 6.21%, has been at or slightly above the national average. In the latest quarter, Bloomfield's appreciation rate has been 2.35%, which annualizes to a rate of 9.74%.

Relative to Indiana, our data show that Bloomfield's latest annual appreciation rate is higher than 60% of the other cities and towns in Indiana.

Average Home Values

 

Median Home Value:
$106,101

Bloomfield, IN HOME PRICES

> $1,061,000
0.0%
0.0%
$796,001 - $1,061,000
0.0%
0.0%
$531,001 - $796,000
1.1%
1.1%
$425,001 - $531,000
0.6%
0.6%
$318,001 - $425,000
5.8%
5.8%
$212,001 - $318,000
3.9%
3.9%
$106,001 - $212,000
35.3%
35.3%
$53,001 - $106,000
35.5%
35.5%
$0 - $53,000
17.7%
17.7%
0.0% 100.0%
% OF HOMES
Value Relative To State

Very Low for Nation

Very Low for IN

Value Relative To Nation

Number Of Homes And Apartments:
1,092

Bloomfield Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
IN*
Compared To
America*
Latest Quarter:
2020 Q3 - 2020 Q4
Last 12 Months:
2019 Q4 - 2020 Q4
Last 2 Years:
2018 Q4 - 2020 Q4
Last 5 Years:
2015 Q4 - 2020 Q4
Last 10 Years:
2010 Q4 - 2020 Q4
Since 2000:
2000 Q1 - 2020 Q4
52.09% 2.02%
7
3
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$620 / per month

Homeownership Rate

Owners
68.6%
68.6%
Renters
31.4%
31.4%
Vacant
14.7%
14.7%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
5.9%
5.9%
1970 - 1999
30.2%
30.2%
1940 - 1969
39.1%
39.1%
1939 or Older
24.9%
24.9%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
69.3%
69.3%
Townhomes
1.0%
1.0%
Small Apt. Buildings
8.8%
8.8%
Apt. Complexes
14.0%
14.0%
Mobile Homes
6.5%
6.5%
Other
0.5%
0.5%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
13.8%
13.8%
1 Bedroom
7.3%
7.3%
2 Bedrooms
27.7%
27.7%
3 Bedrooms
36.3%
36.3%
4 Bedrooms
11.7%
11.7%
5 or more bedrooms
3.3%
3.3%
0.0% 100.0%
% OF HOMES

Popular Neighborhoods in Bloomfield

Zip Codes in Bloomfield, IN