Bloomington, MN
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Highest Appreciating Bloomington Neighborhoods Since 2000




Bloomington, MN Real Estate Data

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 2017. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2015 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

Bloomington Housing Market Information

With 86,435 people, 36,762 houses or apartments, and a median cost of homes of $255,838, Bloomington real estate prices are well above average cost compared to national prices.

Single-family detached homes are the single most common housing type in Bloomington, accounting for 57.36% of the city's housing units. Other types of housing that are prevalent in Bloomington include large apartment complexes or high rise apartments ( 30.97%), row houses and other attached homes ( 9.03%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 2.00%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Bloomington. Owner-occupied housing accounts for 66.96% of Bloomington's homes, and 49.32% have either three or four bedrooms, which is average sized relative to America.

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. Bloomington's housing was primarily built during this period, from the '40s through the '60s. A full 47.92% of the city's housing hails from this era. Other housing ages represented in Bloomington include homes built between 1970-1999 ( 43.38%) and housing constructed between 2000 and later ( 5.96%). There's also some housing in Bloomington built before 1939 ( 2.75%).

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 -0.58% during the period.

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 7.19%, which is higher than appreciation rates in 82.44% 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 1.44%, which equates to an annual appreciation rate of 5.89%.

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

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:
$255,838

Bloomington, MN HOME PRICES

Value Range
> $1,186,000 0.7
$889,001 - $1,186,000 0.5
$593,001 - $889,000 3.6
$474,001 - $593,000 3.2
$356,001 - $474,000 11.9
$237,001 - $356,000 36.2
$119,001 - $237,000 37.2
$59,001 - $119,000 4.0
$0 - $59,000 2.7

Very High for MN
High for Nation

Value Relative to Nation Value Relative to State
21.6863939997656 18.8911704312115

Number Of Homes And Apartments:
36,762

Bloomington Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
MN*
Compared To
America*
Latest Quarter:
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
Since 2000:
2000 Q1 - 2017 Q1
37.60% 1.87% 5 4
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,219 / per month

Homeownership Rate

Homeownership
Owners 66.96
Renters 33.04
Vacant 3.98

Housing Market Details

 

Age of Homes

AGE OF Bloomington HOMES
2000 or Newer 6.0
1970 - 1999 43.4
1940 - 1969 47.9
1939 or Older 2.7

Types of Homes

TYPE OF Bloomington HOMES
Single-Family 57.4
Townhomes 9.0
Small Apt. Buildings 2.0
Apt. Complexes 31.0
Mobile Homes 0.6
Other 0.1

Home Size

SIZE OF Bloomington HOMES
No Bedroom 1.45
1 Bedroom 16.27
2 Bedrooms 27.51
3 Bedrooms 29.38
4 Bedrooms 19.95
5 or more bedrooms 5.44