Bloomington, MN—55425
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 $315,000, with a year-over-year change of 2.5%. 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 | $315,000 | 2.5% |
| Single Family | $337,000 | 2.7% |
| Condos | $233,000 | 9.9% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $245,000 | 4.7% |
2 Bed | $320,000 | 4.6% |
3 Bed | $333,000 | 2.8% |
4 Bed | $376,000 | 2.5% |
| 5 Bed | $421,000 | -0.2% |
% of Housing Stock
Rental Trends — Bloomington, MN
As of July '25, Rentcast reports the average rent in Bloomington, MN is $1,980, with a year-over-year rent change of 27.7%. Per bedroom, the median rent as of July '25 in Bloomington, MN is studios: $1,320, 1-bedrooms: $1,530, 2-bedrooms: $2,470, 3-bedrooms: $2,500, 4-bedrooms: $3,050. The most common rental property sizes in Bloomington, MN are 1-bedroom and 2-bedroom, accounting for 41.4% and 41.4% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,720 | $1,980 |
| Studio Rent | $1,380 | $1,320 |
| 1 Bed Rent | $1,220 | $1,530 |
| 2 Bed Rent | $2,100 | $2,470 |
| 3 Bed Rent | $2,500 | $2,500 |
| 4 Bed Rent | $3,000 | $3,050 |
% 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 34. This is a decrease of -16.0% from last year, suggesting that homes are sitting on the market shorter 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 | $283,000 | -5.0% |
Listing Count | 25 | 17.0% |
| Listings as % of Homes | 0.3% | 17.0% |
Days on Market | 34 | -16.0% |
Demographics — Bloomington, MN
As of the latest ACS Survey released in 2023, Bloomington, MN has a population of 10,600, which has increased by 1.2% over the past 5 years. Bloomington, MN is a moderately popular place for families, as children make up 24.3% of the population. The area has a moderately educated workforce, with 32.5% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 16.4% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 10,600 | 1.2% |
% Under 18 | 24.3% | 6.6% |
% Seniors | 12.4% | 2.5% |
% WFH | 16.4% | 446.7% |
% w/ College Degree | 32.5% | 12.5% |
As of the latest ACS Survey released in 2023, Bloomington, MN is a predominantly white area, with 43.4% of the population identifying as white. The white population has shrunk by 21.2% in the last 5 years. The second most common race or ethnicity in Bloomington, MN is black, making up 22.6% of the population. Foreign-born residents account for 19.8% of the population in Bloomington, MN, and this percentage has decreased by 18.2% 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 | 43.4% | -21.2% |
% Black | 22.6% | 39.5% |
% Hispanic | 21.6% | 0.5% |
% Asian | 5.8% | 13.7% |
% Foreign Born | 19.8% | -18.2% |
Mortgage and Risk — Bloomington, MN
According to HUD data as of 2023, there were 70 mortgage originations in Bloomington, MN, of which 89.0% of loans were conventional mortgages. The average loan-to-value was 61.0%, with 24.0% above 90% LTV (very high). This implies large mortgage risk in Bloomington, MN. Investor activity is low, as 6.0% of loans were by investors. 7.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 70 |
% Conventional Loans | 89.0% |
% Government Loans | 11.0% |
% Investor Loans | 6.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 7.0% |
Loan Activity
Rentals and Section 8 — Bloomington, MN
As of 2024, the percent of homes in Bloomington, MN under the Section 8 program is 6.4%. 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, MN, 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 | 190 |
Total Units Section 8 | 187 |
% Rentals under Section 8 | 6.4% |
% Occupied Section 8 | 94.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $190 | $1,220 | $1,410 |
| 2 Bedroom | -$380 | $2,100 | $1,720 |
| 3 Bedroom | -$210 | $2,500 | $2,290 |
| 4 Bedroom | -$430 | $3,000 | $2,570 |
Affordability — Bloomington, MN
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 4.4 |
| Median Home Price | $315,000 |
| Median Household Income | $68,500 |