Bloomington, MN—55438
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Bloomington, MN
As of Nov '25, the median home price in Bloomington, MN is $390,000, with a year-over-year change of 3.2%. This indicates that home prices in Bloomington, MN are increasing. According to Zillow, the 1-year price projection is -0.1%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $390,000 | 3.2% |
| Single Family | $458,000 | 2.7% |
| Condos | $195,000 | 1.6% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $153,000 | 1.3% |
2 Bed | $245,000 | 0.0% |
3 Bed | $429,000 | 2.9% |
4 Bed | $541,000 | 2.5% |
| 5 Bed | $658,373 | 0.8% |
% of Housing Stock
Rental Trends — Bloomington, MN
As of July '25, Rentcast reports the average rent in Bloomington, MN is $1,900, with a year-over-year rent change of -7.3%. Per bedroom, the median rent as of July '25 in Bloomington, MN is 1-bedrooms: $1,400, 2-bedrooms: $2,040, 3-bedrooms: $2,800, 4-bedrooms: $2,850. The most common rental property sizes in Bloomington, MN are 2-bedroom and 1-bedroom, accounting for 58.8% and 22.3% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,950 | $1,900 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $1,430 | $1,400 |
| 2 Bed Rent | $2,000 | $2,040 |
| 3 Bed Rent | $2,800 | $2,800 |
| 4 Bed Rent | $2,850 | $2,850 |
% of Rental Stock
Property Listings — Bloomington, MN
As of Nov '25, Realtor.com reports that the median days on market for a home in Bloomington, MN is 43. This is a increase of 14.0% 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 27.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $300,000 | -19.0% |
Listing Count | 60 | 18.0% |
| Listings as % of Homes | 0.3% | 18.0% |
Days on Market | 43 | 14.0% |
Demographics — Bloomington, MN
As of the latest ACS Survey released in 2023, Bloomington, MN has a population of 15,800, which has decreased by -3.8% over the past 5 years. Bloomington, MN is a moderately popular place for families, as children make up 18.4% of the population. The area has a highly educated workforce, with 55.3% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 19.6% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 15,800 | -3.8% |
% Under 18 | 18.4% | -3.7% |
% Seniors | 26.0% | 16.6% |
% WFH | 19.6% | 317.0% |
% w/ College Degree | 55.3% | 0.2% |
As of the latest ACS Survey released in 2023, Bloomington, MN is a predominantly white area, with 76.4% of the population identifying as white. The white population has shrunk by 6.1% in the last 5 years. The second most common race or ethnicity in Bloomington, MN is hispanic, making up 8.0% of the population. Foreign-born residents account for 8.5% of the population in Bloomington, MN, and this percentage has increased by 11.8% 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 | 76.4% | -6.1% |
% Black | 6.9% | 187.5% |
% Hispanic | 8.0% | 63.3% |
% Asian | 3.6% | -35.7% |
% Foreign Born | 8.5% | 11.8% |
Mortgage and Risk — Bloomington, MN
According to HUD data as of 2023, there were 267 mortgage originations in Bloomington, MN, of which 94.0% of loans were conventional mortgages. The average loan-to-value was 59.0%, with 18.0% above 90% LTV (elevated). This implies medium mortgage risk in Bloomington, MN. 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 | 267 |
% Conventional Loans | 94.0% |
% Government Loans | 6.0% |
% Investor Loans | 1.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 8.0% |
Rentals and Section 8 — Bloomington, MN
As of 2024, the percent of homes in Bloomington, MN under the Section 8 program is 3.0%. 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 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 | 45 |
Total Units Section 8 | 45 |
% Rentals under Section 8 | 3.0% |
% Occupied Section 8 | 94.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $110 | $1,430 | $1,540 |
| 2 Bedroom | -$120 | $2,000 | $1,880 |
| 3 Bedroom | -$300 | $2,800 | $2,500 |
| 4 Bedroom | -$50 | $2,850 | $2,800 |
Affordability — Bloomington, MN
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.6 |
| Median Home Price | $390,000 |
| Median Household Income | $103,000 |