Bloomington, IL—61704
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Bloomington, IL
As of Oct '25, the median home price in Bloomington, IL is $317,000, with a year-over-year change of 6.4%. This indicates that home prices in Bloomington, IL are increasing. According to Zillow, the 1-year price projection is 2.0%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $317,000 | 6.4% |
| Single Family | $326,000 | 5.8% |
| Condos | $177,000 | 8.6% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $195,000 | 7.1% |
3 Bed | $260,000 | 6.1% |
4 Bed | $350,000 | 5.7% |
| 5 Bed | $476,000 | 3.5% |
% of Housing Stock
Rental Trends — Bloomington, IL
As of July '25, Rentcast reports the average rent in Bloomington, IL is $1,510, with a year-over-year rent change of -0.7%. Per bedroom, the median rent as of July '25 in Bloomington, IL is studios: $1,120, 1-bedrooms: $1,180, 2-bedrooms: $1,300, 3-bedrooms: $1,940, 4-bedrooms: $3,050. The most common rental property sizes in Bloomington, IL are 2-bedroom and 1-bedroom, accounting for 51.6% and 25.4% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,400 | $1,510 |
| Studio Rent | $1,120 | $1,120 |
| 1 Bed Rent | $1,220 | $1,180 |
| 2 Bed Rent | $1,200 | $1,300 |
| 3 Bed Rent | $1,920 | $1,940 |
| 4 Bed Rent | $3,050 | $3,050 |
% of Rental Stock
Property Listings — Bloomington, IL
As of Oct '25, Realtor.com reports that the median days on market for a home in Bloomington, IL is 37. This is a decrease of -21.0% 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 35.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $332,000 | 2.0% |
Listing Count | 86 | 3.0% |
| Listings as % of Homes | 0.3% | 3.0% |
Days on Market | 37 | -21.0% |
Demographics — Bloomington, IL
As of the latest ACS Survey released in 2023, Bloomington, IL has a population of 36,900, which has remained stable by -0.7% over the past 5 years. Bloomington, IL is a moderately popular place for families, as children make up 24.4% of the population. The area has a highly educated workforce, with 58.4% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 20.3% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 36,900 | -0.7% |
% Under 18 | 24.4% | 1.7% |
% Seniors | 13.7% | 14.2% |
% WFH | 20.3% | 361.4% |
% w/ College Degree | 58.4% | -1.4% |
As of the latest ACS Survey released in 2023, Bloomington, IL is a predominantly white area, with 71.2% of the population identifying as white. The white population has shrunk by 2.2% in the last 5 years. The second most common race or ethnicity in Bloomington, IL is asian, making up 13.0% of the population. Foreign-born residents account for 13.9% of the population in Bloomington, IL, and this percentage has decreased by 7.9% 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 | 71.2% | -2.2% |
% Black | 6.8% | 1.5% |
% Hispanic | 5.4% | 38.5% |
% Asian | 13.0% | 0.0% |
% Foreign Born | 13.9% | -7.9% |
Mortgage and Risk — Bloomington, IL
According to HUD data as of 2023, there were 591 mortgage originations in Bloomington, IL, of which 89.0% of loans were conventional mortgages. The average loan-to-value was 67.0%, with 29.0% above 90% LTV (very high). This implies large mortgage risk in Bloomington, IL. Investor activity is low, as 1.0% of loans were by investors. 8.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 591 |
% Conventional Loans | 89.0% |
% Government Loans | 11.0% |
% Investor Loans | 1.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 8.0% |
Loan Activity
Rentals and Section 8 — Bloomington, IL
As of 2024, the percent of homes in Bloomington, IL under the Section 8 program is 1.4%. 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. In Bloomington, IL, none of the tracked home sizes currently have HUD payment amounts above market rent, suggesting limited Section 8 opportunity.
Section 8 Market Size
Total Units under HUD | 86 |
Total Units Section 8 | 86 |
% Rentals under Section 8 | 1.4% |
% Occupied Section 8 | 75.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$340 | $1,220 | $880 |
| 2 Bedroom | -$60 | $1,200 | $1,140 |
| 3 Bedroom | -$410 | $1,920 | $1,510 |
| 4 Bedroom | -$1,540 | $3,050 | $1,510 |
Affordability — Bloomington, IL
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 2.9 |
| Median Home Price | $317,000 |
| Median Household Income | $93,100 |