Bloomington, IN—47408
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 $331,000, with a year-over-year change of 1.6%. This indicates that home prices in Bloomington, IN are increasing. According to Zillow, the 1-year price projection is 1.1%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $331,000 | 1.6% |
| Single Family | $345,000 | 1.2% |
| Condos | $210,000 | 12.3% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $219,000 | -6.4% |
2 Bed | $239,000 | 3.9% |
3 Bed | $315,000 | 1.9% |
4 Bed | $422,000 | 1.7% |
| 5 Bed | $517,000 | 1.6% |
% of Housing Stock
Rental Trends — Bloomington, IN
As of July '25, Rentcast reports the average rent in Bloomington, IN is $3,150, with a year-over-year rent change of 13.7%. Per bedroom, the median rent as of July '25 in Bloomington, IN is studios: $1,260, 1-bedrooms: $1,040, 2-bedrooms: $1,780, 3-bedrooms: $2,420, 4-bedrooms: $4,480. The most common rental property sizes in Bloomington, IN are 2-bedroom and 1-bedroom, accounting for 32.0% and 31.9% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $2,150 | $3,150 |
| Studio Rent | $1,210 | $1,260 |
| 1 Bed Rent | $1,040 | $1,040 |
| 2 Bed Rent | $1,470 | $1,780 |
| 3 Bed Rent | $2,200 | $2,420 |
| 4 Bed Rent | $4,950 | $4,480 |
% 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 69. This is a increase of 6.0% 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 24.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $431,000 | -3.0% |
Listing Count | 66 | 18.0% |
| Listings as % of Homes | 0.1% | 18.0% |
Days on Market | 69 | 6.0% |
Demographics — Bloomington, IN
As of the latest ACS Survey released in 2023, Bloomington, IN has a population of 21,700, which has decreased by -15.8% over the past 5 years. Bloomington, IN is a less popular place for families, as children make up 10.7% of the population. The area has a highly educated workforce, with 59.4% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 14.2% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 21,700 | -15.8% |
% Under 18 | 10.7% | -1.8% |
% Seniors | 12.5% | 17.9% |
% WFH | 14.2% | 255.0% |
% w/ College Degree | 59.4% | 7.2% |
As of the latest ACS Survey released in 2023, Bloomington, IN is a predominantly white area, with 78.4% 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 9.5% of the population. Foreign-born residents account for 11.2% of the population in Bloomington, IN, and this percentage has decreased by 14.5% as of the ACS Survey 5 years prior, suggesting fewer immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 78.4% | -3.6% |
% Black | 3.0% | 42.9% |
% Hispanic | 4.7% | 80.8% |
% Asian | 9.5% | -12.8% |
% Foreign Born | 11.2% | -14.5% |
Mortgage and Risk — Bloomington, IN
According to HUD data as of 2023, there were 265 mortgage originations in Bloomington, IN, of which 89.0% of loans were conventional mortgages. The average loan-to-value was 56.0%, with 15.0% above 90% LTV (elevated). This implies medium mortgage risk in Bloomington, IN. Investor activity is low, as 2.0% of loans were by investors. 23.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 265 |
% Conventional Loans | 89.0% |
% Government Loans | 11.0% |
% Investor Loans | 2.0% |
% Second Loans | 3.0% |
% Cash Out Refinance | 23.0% |
Loan Activity
Rentals and Section 8 — Bloomington, IN
As of 2024, the percent of homes in Bloomington, IN under the Section 8 program is 4.4%. 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 | 233 |
Total Units Section 8 | 222 |
% Rentals under Section 8 | 4.4% |
% Occupied Section 8 | 98.7% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $10 | $1,040 | $1,050 |
| 2 Bedroom | -$280 | $1,470 | $1,190 |
| 3 Bedroom | -$630 | $2,200 | $1,570 |
| 4 Bedroom | -$3,080 | $4,950 | $1,870 |
Affordability — Bloomington, IN
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 6.7 |
| Median Home Price | $331,000 |
| Median Household Income | $45,600 |