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.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more
With a population of 2,336, 1,110 total housing units (homes and apartments), and a median house value of $104,255, house prices in Bloomfield are solidly below the national average.
Single-family detached homes are the single most common housing type in Bloomfield, accounting for 62.95% of the town's housing units. Other types of housing that are prevalent in Bloomfield include large apartment complexes or high rise apartments ( 13.73%), mobile homes or trailers ( 11.29%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 10.26%).
People in Bloomfield primarily live in small (one, two or no bedroom) single-family detached homes. Bloomfield has a mixture of owner-occupied and renter-occupied housing.
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 35.20% of the town's housing hails from this era. Other housing ages represented in Bloomfield include homes built before 1939 ( 29.23%) and housing constructed between 1970-1999 ( 28.71%). There's also some housing in Bloomfield built between 2000 and later ( 6.86%).
Vacant housing appears to be an issue in Bloomfield. Fully 18.08% 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.
Appreciation rates for homes in Bloomfield have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 11.94%, which ranks in the top 30% nationwide. This equates to an annual average Bloomfield house appreciation rate of 1.13%.
Appreciation rates are so strong in Bloomfield that despite a nationwide downturn in the housing market, Bloomfield real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Bloomfield appreciation rates continue to be some of the highest in America, at 6.05%, which is higher than appreciation rates in 74.59% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Bloomfield. Bloomfield appreciation rates in the latest quarter were at -1.14%, which equates to an annual appreciation rate of -4.49%.
Notably, Bloomfield's appreciation rate in the latest quarter is one of the lowest in America.
Relative to Indiana, our data show that Bloomfield's latest annual appreciation rate is higher than 80% of the other cities and towns in Indiana.
|$843,001 - $1,124,000||0.6|
|$562,001 - $843,000||0.4|
|$450,001 - $562,000||0.0|
|$337,001 - $450,000||0.0|
|$225,001 - $337,000||7.2|
|$112,001 - $225,000||34.3|
|$56,001 - $112,000||41.0|
|$0 - $56,000||16.4|
|Value Relative to Nation||Value Relative to State|
|Time Period||Total Appreciation||Avg. Annual Rate||
2016 Q4 - 2017 Q1
Last 12 Months:
2016 Q1 - 2017 Q1
Last 2 Years:
2015 Q1 - 2017 Q1
Last 5 Years:
2012 Q1 - 2017 Q1
Last 10 Years:
2007 Q1 - 2017 Q1
2000 Q1 - 2017 Q1
|* 10 is highest|
|AGE OF Bloomfield HOMES|
|2000 or Newer||6.9|
|1970 - 1999||28.7|
|1940 - 1969||35.2|
|1939 or Older||29.2|
|TYPE OF Bloomfield HOMES|
|Small Apt. Buildings||10.3|
|SIZE OF Bloomfield HOMES|
|5 or more bedrooms||2.58|