Bloomington, IN—47404
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 $305,000, 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 1.0%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $305,000 | 2.7% |
| Single Family | $307,000 | 2.7% |
| Condos | $286,000 | 0.7% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $181,000 | 3.4% |
2 Bed | $223,000 | 3.7% |
3 Bed | $298,000 | 2.4% |
4 Bed | $383,000 | 2.4% |
| 5 Bed | $467,000 | 1.7% |
% of Housing Stock
Rental Trends — Bloomington, IN
As of July '25, Rentcast reports the average rent in Bloomington, IN is $1,980, with a year-over-year rent change of 20.7%. Per bedroom, the median rent as of July '25 in Bloomington, IN is studios: $1,170, 1-bedrooms: $1,070, 2-bedrooms: $1,610, 3-bedrooms: $2,140, 4-bedrooms: $4,030. The most common rental property sizes in Bloomington, IN are 2-bedroom and 1-bedroom, accounting for 35.3% and 25.5% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,480 | $1,980 |
| Studio Rent | $1,150 | $1,170 |
| 1 Bed Rent | $1,000 | $1,070 |
| 2 Bed Rent | $1,450 | $1,610 |
| 3 Bed Rent | $2,000 | $2,140 |
| 4 Bed Rent | $4,100 | $4,030 |
% 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 62. This is a decrease of 0.0% from last year, suggesting that homes are sitting on the market about the same amount of time than last year. The percentage of listed homes with a reduced price is 31.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $352,000 | 9.0% |
Listing Count | 97 | -8.0% |
| Listings as % of Homes | 0.7% | -8.0% |
Days on Market | 62 | 0.0% |
Demographics — Bloomington, IN
As of the latest ACS Survey released in 2023, Bloomington, IN has a population of 23,600, which has remained stable by 0.6% over the past 5 years. Bloomington, IN is a moderately popular place for families, as children make up 18.3% of the population. The area has a moderately educated workforce, with 43.5% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 15.2% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 23,600 | 0.6% |
% Under 18 | 18.3% | 7.0% |
% Seniors | 14.1% | 15.6% |
% WFH | 15.2% | 360.6% |
% w/ College Degree | 43.5% | 19.5% |
As of the latest ACS Survey released in 2023, Bloomington, IN is a predominantly white area, with 82.5% of the population identifying as white. The white population has shrunk by 3.6% in the last 5 years. The second most common race or ethnicity in Bloomington, IN is asian, making up 4.5% of the population. Foreign-born residents account for 5.5% of the population in Bloomington, IN, and this percentage has increased by 44.7% 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 | 82.5% | -3.6% |
% Black | 4.4% | 0.0% |
% Hispanic | 3.6% | 24.1% |
% Asian | 4.5% | 73.1% |
% Foreign Born | 5.5% | 44.7% |
Mortgage and Risk — Bloomington, IN
According to HUD data as of 2023, there were 444 mortgage originations in Bloomington, IN, of which 82.0% of loans were conventional mortgages. The average loan-to-value was 64.0%, with 23.0% above 90% LTV (very high). This implies large mortgage risk in Bloomington, IN. Investor activity is low, as 4.0% of loans were by investors. 16.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 444 |
% Conventional Loans | 82.0% |
% Government Loans | 18.0% |
% Investor Loans | 4.0% |
% Second Loans | 2.0% |
% Cash Out Refinance | 16.0% |
Loan Activity
Rentals and Section 8 — Bloomington, IN
As of 2024, the percent of homes in Bloomington, IN under the Section 8 program is 13.9%. 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 | 713 |
Total Units Section 8 | 694 |
% Rentals under Section 8 | 13.9% |
% Occupied Section 8 | 98.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $90 | $1,000 | $1,090 |
| 2 Bedroom | -$210 | $1,450 | $1,240 |
| 3 Bedroom | -$360 | $2,000 | $1,640 |
| 4 Bedroom | -$2,150 | $4,100 | $1,950 |
Affordability — Bloomington, IN
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 5.1 |
| Median Home Price | $305,000 |
| Median Household Income | $54,700 |