Bloomington, 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 Q1 2021. 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

Bloomington, IN Housing Market Trends

With a population of 85,755, 30,624 total housing units (homes and apartments), and a median house value of $268,047, Bloomington real estate is some of the most expensive in Indiana, although Bloomington home values aren't among America's most expensive.

Large apartment complexes or high rise apartments are the single most common housing type in Bloomington, accounting for 41.14% of the city's housing units. Other types of housing that are prevalent in Bloomington include single-family detached homes ( 35.73%), duplexes, homes converted to apartments or other small apartment buildings ( 10.21%), and a few row houses and other attached homes ( 9.57%). Cities with mostly row houses, apartments, and other high density housing types are relatively uncommon, and characteristic of compact cities that frequently have a downtown or other neighborhoods where amenities are within walking distance and a lot of street life can be seen.

Bloomington is dominated by renter-occupied one, two, or no bedrooms apartments. 70.84% of Bloomington's dwellings are rentals.

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 ( 21.25%). A lesser amount of the housing stock also hails from between 2000 and later ( 20.45%). There's also some housing in Bloomington built before 1939 ( 8.22%).

Bloomington Home Appreciation Rates

Appreciation rates for homes in Bloomington have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 48.26%, which ranks in the top 40% nationwide. This equates to an annual average Bloomington house appreciation rate of 4.02%.

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 4.83%, 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 1.88%, which equates to an annual appreciation rate of 7.73%.

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

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:
$268,047

Bloomington, IN HOME PRICES

> $1,184,000
0.5%
0.5%
$888,001 - $1,184,000
0.1%
0.1%
$592,001 - $888,000
3.7%
3.7%
$474,001 - $592,000
5.6%
5.6%
$355,001 - $474,000
19.3%
19.3%
$237,001 - $355,000
22.0%
22.0%
$118,001 - $237,000
32.6%
32.6%
$59,001 - $118,000
10.2%
10.2%
$0 - $59,000
6.1%
6.1%
0.0% 100.0%
% OF HOMES
Value Relative To State

High for Nation

Very High for IN

Value Relative To Nation

Number Of Homes And Apartments:
30,624

Bloomington Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
IN*
Compared To
America*
Latest Quarter:
2020 Q4 - 2021 Q1
Last 12 Months:
2020 Q1 - 2021 Q1
Last 2 Years:
2019 Q1 - 2021 Q1
Last 5 Years:
2016 Q1 - 2021 Q1
Last 10 Years:
2011 Q1 - 2021 Q1
Since 2000:
2000 Q1 - 2021 Q1
99.10% 3.29%
10
7
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,011 / per month

Homeownership Rate

Owners
29.2%
29.2%
Renters
70.8%
70.8%
Vacant
9.8%
9.8%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
20.5%
20.5%
1970 - 1999
50.1%
50.1%
1940 - 1969
21.2%
21.2%
1939 or Older
8.2%
8.2%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
35.7%
35.7%
Townhomes
9.6%
9.6%
Small Apt. Buildings
10.2%
10.2%
Apt. Complexes
41.1%
41.1%
Mobile Homes
3.4%
3.4%
Other
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
3.9%
3.9%
1 Bedroom
20.0%
20.0%
2 Bedrooms
32.8%
32.8%
3 Bedrooms
26.9%
26.9%
4 Bedrooms
12.8%
12.8%
5 or more bedrooms
3.6%
3.6%
0.0% 100.0%
% OF HOMES