Bloomington, MN—55420
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Bloomington, MN
As of Oct '25, the median home price in Bloomington, MN is $326,000, with a year-over-year change of 3.1%. This indicates that home prices in Bloomington, MN are increasing. According to Zillow, the 1-year price projection is -0.8%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $326,000 | 3.2% |
| Single Family | $330,000 | 3.1% |
| Condos | $194,000 | 2.1% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $184,000 | 4.0% |
2 Bed | $285,000 | 3.6% |
3 Bed | $329,000 | 3.1% |
4 Bed | $369,000 | 2.8% |
| 5 Bed | $400,000 | 1.8% |
% of Housing Stock
Rental Trends — Bloomington, MN
As of July '25, Rentcast reports the average rent in Bloomington, MN is $1,500, with a year-over-year rent change of -3.8%. Per bedroom, the median rent as of July '25 in Bloomington, MN is studios: $1,130, 1-bedrooms: $1,180, 2-bedrooms: $1,500, 3-bedrooms: $2,450, 4-bedrooms: $2,660. The most common rental property sizes in Bloomington, MN are 2-bedroom and 1-bedroom, accounting for 35.8% and 32.7% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,220 | $1,500 |
| Studio Rent | $1,130 | $1,130 |
| 1 Bed Rent | $1,150 | $1,180 |
| 2 Bed Rent | $1,400 | $1,500 |
| 3 Bed Rent | $2,420 | $2,450 |
| 4 Bed Rent | $2,800 | $2,660 |
% of Rental Stock
Property Listings — Bloomington, MN
As of Oct '25, Realtor.com reports that the median days on market for a home in Bloomington, MN is 28. This is a increase of 8.0% 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 34.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $342,000 | -9.0% |
Listing Count | 47 | 12.0% |
| Listings as % of Homes | 0.1% | 12.0% |
Days on Market | 28 | 8.0% |
Demographics — Bloomington, MN
As of the latest ACS Survey released in 2023, Bloomington, MN has a population of 24,000, which has increased by 9.3% over the past 5 years. Bloomington, MN is a moderately popular place for families, as children make up 22.6% of the population. The area has a moderately educated workforce, with 31.5% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 18.1% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 24,000 | 9.3% |
% Under 18 | 22.6% | 2.7% |
% Seniors | 16.4% | 1.9% |
% WFH | 18.1% | 503.3% |
% w/ College Degree | 31.5% | 19.3% |
As of the latest ACS Survey released in 2023, Bloomington, MN is a predominantly white area, with 52.5% of the population identifying as white. The white population has shrunk by 13.7% in the last 5 years. The second most common race or ethnicity in Bloomington, MN is hispanic, making up 18.1% of the population. Foreign-born residents account for 19.1% of the population in Bloomington, MN, and this percentage has increased by 2.1% 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 | 52.5% | -13.7% |
% Black | 18.0% | 33.3% |
% Hispanic | 18.1% | 32.1% |
% Asian | 5.0% | -38.3% |
% Foreign Born | 19.1% | 2.1% |
Mortgage and Risk — Bloomington, MN
According to HUD data as of 2023, there were 357 mortgage originations in Bloomington, MN, of which 91.0% of loans were conventional mortgages. The average loan-to-value was 61.0%, with 29.0% above 90% LTV (very high). This implies large mortgage risk in Bloomington, MN. Investor activity is low, as 5.0% of loans were by investors. 10.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 357 |
% Conventional Loans | 91.0% |
% Government Loans | 9.0% |
% Investor Loans | 5.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 10.0% |
Loan Activity
Rentals and Section 8 — Bloomington, MN
As of 2024, the percent of homes in Bloomington, MN under the Section 8 program is 12.5%. 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 and 2-bedroom units appear to be good home sizes to consider for Section 8 housing in Bloomington, MN, because HUD payments exceed market rent, while 3-bedroom and 4-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 476 |
Total Units Section 8 | 392 |
% Rentals under Section 8 | 12.5% |
% Occupied Section 8 | 90.7% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $140 | $1,150 | $1,290 |
| 2 Bedroom | $180 | $1,400 | $1,580 |
| 3 Bedroom | -$320 | $2,420 | $2,100 |
| 4 Bedroom | -$440 | $2,800 | $2,360 |
Affordability — Bloomington, MN
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 4 |
| Median Home Price | $326,000 |
| Median Household Income | $77,500 |