Bloomington, IN—47403
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Bloomington, IN
As of Oct '25, the median home price in Bloomington, IN is $270,000, with a year-over-year change of 2.7%. This indicates that home prices in Bloomington, IN are increasing. According to Zillow, the 1-year price projection is 0.7%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $270,000 | 2.7% |
| Single Family | $271,000 | 2.3% |
| Condos | $259,000 | 4.4% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $181,000 | 5.8% |
2 Bed | $224,000 | 3.7% |
3 Bed | $268,000 | 2.3% |
4 Bed | $360,000 | 2.3% |
| 5 Bed | $466,000 | 2.0% |
% of Housing Stock
Rental Trends — Bloomington, IN
As of July '25, Rentcast reports the average rent in Bloomington, IN is $1,690, with a year-over-year rent change of 8.3%. Per bedroom, the median rent as of July '25 in Bloomington, IN is studios: $1,020, 1-bedrooms: $915, 2-bedrooms: $1,380, 3-bedrooms: $1,740, 4-bedrooms: $2,090. The most common rental property sizes in Bloomington, IN are 3-bedroom and 2-bedroom, accounting for 35.4% and 32.2% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,500 | $1,690 |
| Studio Rent | $899 | $1,020 |
| 1 Bed Rent | $875 | $915 |
| 2 Bed Rent | $1,350 | $1,380 |
| 3 Bed Rent | $1,750 | $1,740 |
| 4 Bed Rent | $1,800 | $2,090 |
% of Rental Stock
Property Listings — Bloomington, IN
As of Oct '25, Realtor.com reports that the median days on market for a home in Bloomington, IN is 66. This is a increase of 26.0% from last year, suggesting that homes are sitting on the market longer than last year. The percentage of listed homes with a reduced price is 32.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $300,000 | -7.0% |
Listing Count | 158 | 35.0% |
| Listings as % of Homes | 0.4% | 35.0% |
Days on Market | 66 | 26.0% |
Demographics — Bloomington, IN
As of the latest ACS Survey released in 2023, Bloomington, IN has a population of 34,400, which has increased by 3.1% over the past 5 years. Bloomington, IN is a moderately popular place for families, as children make up 21.2% of the population. The area has a moderately educated workforce, with 39.2% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 9.7% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 34,400 | 3.1% |
% Under 18 | 21.2% | 3.4% |
% Seniors | 13.3% | 13.7% |
% WFH | 9.7% | 142.5% |
% w/ College Degree | 39.2% | 10.1% |
As of the latest ACS Survey released in 2023, Bloomington, IN is a predominantly white area, with 82.2% of the population identifying as white. The white population has shrunk by 3.2% in the last 5 years. The second most common race or ethnicity in Bloomington, IN is hispanic, making up 6.9% of the population. Foreign-born residents account for 5.4% of the population in Bloomington, IN, and this percentage has increased by 10.2% as of the ACS Survey 5 years prior, suggesting more immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 82.2% | -3.2% |
% Black | 5.7% | 67.6% |
% Hispanic | 6.9% | 27.8% |
% Asian | 2.3% | -14.8% |
% Foreign Born | 5.4% | 10.2% |
Mortgage and Risk — Bloomington, IN
According to HUD data as of 2023, there were 600 mortgage originations in Bloomington, IN, of which 84.0% of loans were conventional mortgages. The average loan-to-value was 61.0%, with 23.0% above 90% LTV (very high). This implies large mortgage risk in Bloomington, IN. Investor activity is low, as 2.0% of loans were by investors. 17.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 600 |
% Conventional Loans | 84.0% |
% Government Loans | 16.0% |
% Investor Loans | 2.0% |
% Second Loans | 3.0% |
% Cash Out Refinance | 17.0% |
Loan Activity
Rentals and Section 8 — Bloomington, IN
As of 2024, the percent of homes in Bloomington, IN under the Section 8 program is 8.9%. This is considered low, suggesting that the neighborhood is sparsely composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. 1-bedroom units appear to be good home sizes to consider for Section 8 housing in Bloomington, IN, because HUD payments exceed market rent, while 2-bedroom and 3-bedroom and 4-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 656 |
Total Units Section 8 | 598 |
% Rentals under Section 8 | 8.9% |
% Occupied Section 8 | 98.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $105 | $875 | $980 |
| 2 Bedroom | -$240 | $1,350 | $1,110 |
| 3 Bedroom | -$280 | $1,750 | $1,470 |
| 4 Bedroom | -$50 | $1,800 | $1,750 |
Affordability — Bloomington, IN
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.6 |
| Median Home Price | $270,000 |
| Median Household Income | $68,700 |