Bloomington, MN—55437
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 $383,000, 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 -0.7%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $383,000 | 3.2% |
| Single Family | $403,000 | 3.3% |
| Condos | $204,000 | 0.0% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $153,000 | -1.3% |
2 Bed | $275,000 | 1.5% |
3 Bed | $381,000 | 3.5% |
4 Bed | $465,000 | 2.6% |
| 5 Bed | $529,000 | 2.1% |
% of Housing Stock
Rental Trends — Bloomington, MN
As of July '25, Rentcast reports the average rent in Bloomington, MN is $1,740, with a year-over-year rent change of -8.4%. Per bedroom, the median rent as of July '25 in Bloomington, MN is studios: $1,440, 1-bedrooms: $1,350, 2-bedrooms: $1,700, 3-bedrooms: $2,260, 4-bedrooms: $3,320. The most common rental property sizes in Bloomington, MN are 1-bedroom and 2-bedroom, accounting for 50.3% and 29.1% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,500 | $1,740 |
| Studio Rent | $1,540 | $1,440 |
| 1 Bed Rent | $1,300 | $1,350 |
| 2 Bed Rent | $1,550 | $1,700 |
| 3 Bed Rent | $2,200 | $2,260 |
| 4 Bed Rent | $3,250 | $3,320 |
% 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 27. This is a increase of 13.0% 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 26.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $330,000 | -15.0% |
Listing Count | 54 | 17.0% |
| Listings as % of Homes | 0.3% | 17.0% |
Days on Market | 27 | 13.0% |
Demographics — Bloomington, MN
As of the latest ACS Survey released in 2023, Bloomington, MN has a population of 19,300, which has increased by 6.0% over the past 5 years. Bloomington, MN is a moderately popular place for families, as children make up 17.2% of the population. The area has a highly educated workforce, with 56.0% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 21.0% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 19,300 | 6.0% |
% Under 18 | 17.2% | 2.4% |
% Seniors | 22.5% | 2.3% |
% WFH | 21.0% | 288.9% |
% w/ College Degree | 56.0% | 15.0% |
As of the latest ACS Survey released in 2023, Bloomington, MN is a predominantly white area, with 82.6% of the population identifying as white. The white population has grown by 1.3% in the last 5 years. The second most common race or ethnicity in Bloomington, MN is black, making up 5.3% of the population. Foreign-born residents account for 11.8% of the population in Bloomington, MN, and this percentage has decreased by 13.9% 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 | 82.6% | 1.3% |
% Black | 5.3% | -29.3% |
% Hispanic | 3.6% | -5.3% |
% Asian | 4.4% | -10.2% |
% Foreign Born | 11.8% | -13.9% |
Mortgage and Risk — Bloomington, MN
According to HUD data as of 2023, there were 351 mortgage originations in Bloomington, MN, of which 95.0% of loans were conventional mortgages. The average loan-to-value was 59.0%, with 22.0% above 90% LTV (very high). This implies large mortgage risk in Bloomington, MN. Investor activity is low, as 2.0% of loans were by investors. 6.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 351 |
% Conventional Loans | 95.0% |
% Government Loans | 5.0% |
% Investor Loans | 2.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 6.0% |
Loan Activity
Rentals and Section 8 — Bloomington, MN
As of 2024, the percent of homes in Bloomington, MN under the Section 8 program is 5.0%. 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 and 3-bedroom units appear to be good home sizes to consider for Section 8 housing in Bloomington, MN, because HUD payments exceed market rent, while 4-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 138 |
Total Units Section 8 | 133 |
% Rentals under Section 8 | 5.0% |
% Occupied Section 8 | 90.6% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $250 | $1,300 | $1,550 |
| 2 Bedroom | $340 | $1,550 | $1,890 |
| 3 Bedroom | $320 | $2,200 | $2,520 |
| 4 Bedroom | -$430 | $3,250 | $2,820 |
Affordability — Bloomington, MN
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.7 |
| Median Home Price | $383,000 |
| Median Household Income | $98,100 |