Bloomington, IL—61701
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 $171,000, with a year-over-year change of 8.0%. This indicates that home prices in Bloomington, IL are increasing. According to Zillow, the 1-year price projection is 1.8%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $171,000 | 8.0% |
| Single Family | $173,000 | 8.1% |
| Condos | $138,000 | 6.2% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $99,000 | 2.1% |
2 Bed | $142,000 | 6.8% |
3 Bed | $189,000 | 6.2% |
4 Bed | $242,000 | 7.1% |
| 5 Bed | $295,000 | 5.4% |
% of Housing Stock
Rental Trends — Bloomington, IL
As of July '25, Rentcast reports the average rent in Bloomington, IL is $1,300, with a year-over-year rent change of 8.3%. Per bedroom, the median rent as of July '25 in Bloomington, IL is studios: $1,020, 1-bedrooms: $891, 2-bedrooms: $1,260, 3-bedrooms: $1,690, 4-bedrooms: $2,170. The most common rental property sizes in Bloomington, IL are 2-bedroom and 1-bedroom, accounting for 39.9% and 31.0% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,200 | $1,300 |
| Studio Rent | $749 | $1,020 |
| 1 Bed Rent | $875 | $891 |
| 2 Bed Rent | $1,200 | $1,260 |
| 3 Bed Rent | $1,640 | $1,690 |
| 4 Bed Rent | $2,200 | $2,170 |
% 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 27. This is a decrease of -7.0% 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 34.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $177,000 | -5.0% |
Listing Count | 94 | -4.0% |
| Listings as % of Homes | 0.3% | -4.0% |
Days on Market | 27 | -7.0% |
Demographics — Bloomington, IL
As of the latest ACS Survey released in 2023, Bloomington, IL has a population of 35,600, which has remained stable by -0.6% over the past 5 years. Bloomington, IL is a moderately popular place for families, as children make up 20.7% of the population. The area has a moderately educated workforce, with 36.7% 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 | 35,600 | -0.6% |
% Under 18 | 20.7% | 6.7% |
% Seniors | 15.4% | 15.8% |
% WFH | 16.4% | 465.5% |
% w/ College Degree | 36.7% | 10.5% |
As of the latest ACS Survey released in 2023, Bloomington, IL is a predominantly white area, with 69.8% of the population identifying as white. The white population has shrunk by 4.8% in the last 5 years. The second most common race or ethnicity in Bloomington, IL is black, making up 13.0% of the population. Foreign-born residents account for 6.0% of the population in Bloomington, IL, and this percentage has decreased by 7.7% 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 | 69.8% | -4.8% |
% Black | 13.0% | 5.7% |
% Hispanic | 8.7% | -5.4% |
% Asian | 2.9% | -14.7% |
% Foreign Born | 6.0% | -7.7% |
Mortgage and Risk — Bloomington, IL
According to HUD data as of 2023, there were 515 mortgage originations in Bloomington, IL, of which 86.0% of loans were conventional mortgages. The average loan-to-value was 74.0%, with 41.0% above 90% LTV (very high). This implies large mortgage risk in Bloomington, IL. Investor activity is low, as 4.0% 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 | 515 |
% Conventional Loans | 86.0% |
% Government Loans | 14.0% |
% Investor Loans | 4.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 6.0% |
Loan Activity
Rentals and Section 8 — Bloomington, IL
As of 2024, the percent of homes in Bloomington, IL under the Section 8 program is 9.4%. 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 | 1,280 |
Total Units Section 8 | 663 |
% Rentals under Section 8 | 9.4% |
% Occupied Section 8 | 86.9% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$75 | $875 | $800 |
| 2 Bedroom | -$170 | $1,200 | $1,030 |
| 3 Bedroom | -$250 | $1,640 | $1,390 |
| 4 Bedroom | -$810 | $2,200 | $1,390 |
Affordability — Bloomington, IL
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 2.5 |
| Median Home Price | $171,000 |
| Median Household Income | $55,900 |