Bloomington, MN—55431
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 $368,000, with a year-over-year change of 3.5%. 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 | $368,000 | 3.6% |
| Single Family | $376,000 | 3.3% |
| Condos | $205,000 | 2.0% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $328,000 | 4.8% |
3 Bed | $365,000 | 3.7% |
4 Bed | $412,000 | 2.2% |
| 5 Bed | $451,000 | 1.8% |
% of Housing Stock
Rental Trends — Bloomington, MN
As of July '25, Rentcast reports the average rent in Bloomington, MN is $1,880, with a year-over-year rent change of -14.5%. Per bedroom, the median rent as of July '25 in Bloomington, MN is studios: $1,460, 1-bedrooms: $1,200, 2-bedrooms: $1,600, 3-bedrooms: $2,260, 4-bedrooms: $2,640. The most common rental property sizes in Bloomington, MN are 1-bedroom and 2-bedroom, accounting for 39.5% and 36.3% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,520 | $1,880 |
| Studio Rent | $1,440 | $1,460 |
| 1 Bed Rent | $1,250 | $1,200 |
| 2 Bed Rent | $1,600 | $1,600 |
| 3 Bed Rent | $2,100 | $2,260 |
| 4 Bed Rent | $2,600 | $2,640 |
% 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 25. This is a decrease of -22.0% 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 23.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $392,000 | 1.0% |
Listing Count | 52 | -8.0% |
| Listings as % of Homes | 0.2% | -8.0% |
Days on Market | 25 | -22.0% |
Demographics — Bloomington, MN
As of the latest ACS Survey released in 2023, Bloomington, MN has a population of 19,100, which has increased by 4.0% over the past 5 years. Bloomington, MN is a moderately popular place for families, as children make up 18.0% of the population. The area has a highly educated workforce, with 48.4% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 21.5% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 19,100 | 4.0% |
% Under 18 | 18.0% | 1.1% |
% Seniors | 22.5% | 4.2% |
% WFH | 21.5% | 321.6% |
% w/ College Degree | 48.4% | 11.3% |
As of the latest ACS Survey released in 2023, Bloomington, MN is a predominantly white area, with 74.8% of the population identifying as white. The white population has shrunk by 7.9% in the last 5 years. The second most common race or ethnicity in Bloomington, MN is asian, making up 7.5% of the population. Foreign-born residents account for 10.9% of the population in Bloomington, MN, and this percentage has increased by 13.5% 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 | 74.8% | -7.9% |
% Black | 5.8% | -4.9% |
% Hispanic | 4.9% | 48.5% |
% Asian | 7.5% | 66.7% |
% Foreign Born | 10.9% | 13.5% |
Mortgage and Risk — Bloomington, MN
According to HUD data as of 2023, there were 310 mortgage originations in Bloomington, MN, of which 89.0% of loans were conventional mortgages. The average loan-to-value was 63.0%, with 29.0% above 90% LTV (very high). This implies large mortgage risk in Bloomington, MN. Investor activity is low, as 3.0% 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 | 310 |
% Conventional Loans | 89.0% |
% Government Loans | 11.0% |
% Investor Loans | 3.0% |
% Second Loans | 1.0% |
% 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 13.8%. 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. In Bloomington, MN, all tracked home sizes have HUD payment amounts above market rent, suggesting strong Section 8 opportunity across the board.
Section 8 Market Size
Total Units under HUD | 447 |
Total Units Section 8 | 370 |
% Rentals under Section 8 | 13.8% |
% Occupied Section 8 | 93.9% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $450 | $1,250 | $1,700 |
| 2 Bedroom | $480 | $1,600 | $2,080 |
| 3 Bedroom | $670 | $2,100 | $2,770 |
| 4 Bedroom | $500 | $2,600 | $3,100 |
Affordability — Bloomington, MN
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.4 |
| Median Home Price | $368,000 |
| Median Household Income | $103,000 |