Bloomington, IL—61705
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 $377,000, with a year-over-year change of 4.5%. This indicates that home prices in Bloomington, IL are increasing. According to Zillow, the 1-year price projection is 1.9%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $377,000 | 4.5% |
| Single Family | $378,000 | 4.4% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | N/A | N/A |
3 Bed | $300,000 | 3.8% |
4 Bed | $414,000 | 3.2% |
| 5 Bed | $481,000 | 1.9% |
% of Housing Stock
Rental Trends — Bloomington, IL
As of July '25, Rentcast reports the average rent in Bloomington, IL is $1,920, with a year-over-year rent change of -14.3%. Per bedroom, the median rent as of July '25 in Bloomington, IL is 1-bedrooms: $900, 2-bedrooms: $2,100, 4-bedrooms: $2,400. The most common rental property sizes in Bloomington, IL are 2-bedroom and 3-bedroom, accounting for 46.1% and 31.9% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $2,200 | $1,920 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $900 | $900 |
| 2 Bed Rent | $2,200 | $2,100 |
| 3 Bed Rent | N/A | N/A |
| 4 Bed Rent | $2,400 | $2,400 |
% 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 44. This is a decrease of -25.0% 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 9.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $450,000 | 11.0% |
Listing Count | 46 | -31.0% |
| Listings as % of Homes | 0.9% | -31.0% |
Days on Market | 44 | -25.0% |
Demographics — Bloomington, IL
As of the latest ACS Survey released in 2023, Bloomington, IL has a population of 13,000, which has remained stable by 0.0% over the past 5 years. Bloomington, IL is a popular place for families, as children make up 25.3% of the population. The area has a highly educated workforce, with 56.5% 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 | 13,000 | 0.0% |
% Under 18 | 25.3% | -18.9% |
% Seniors | 14.4% | 33.3% |
% WFH | 21.5% | 290.9% |
% w/ College Degree | 56.5% | -5.7% |
As of the latest ACS Survey released in 2023, Bloomington, IL is a predominantly white area, with 81.8% of the population identifying as white. The white population has shrunk by 4.0% in the last 5 years. The second most common race or ethnicity in Bloomington, IL is black, making up 6.9% of the population. Foreign-born residents account for 4.5% of the population in Bloomington, IL, and this percentage has increased by 66.7% 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 | 81.8% | -4.0% |
% Black | 6.9% | -24.2% |
% Hispanic | 5.8% | 286.7% |
% Asian | 2.5% | -3.8% |
% Foreign Born | 4.5% | 66.7% |
Mortgage and Risk — Bloomington, IL
According to HUD data as of 2023, there were 398 mortgage originations in Bloomington, IL, of which 88.0% 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. 7.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 398 |
% Conventional Loans | 88.0% |
% Government Loans | 12.0% |
% Investor Loans | 1.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 7.0% |
Loan Activity
Rentals and Section 8 — Bloomington, IL
Bloomington, IL lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 168 |
Total Units Section 8 | 168 |
% Rentals under Section 8 | 17.8% |
% Occupied Section 8 | 74.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $140 | $900 | $1,040 |
| 2 Bedroom | -$860 | $2,200 | $1,340 |
| 3 Bedroom | N/A | N/A | $1,770 |
| 4 Bedroom | -$620 | $2,400 | $1,780 |
Affordability — Bloomington, IL
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 2.8 |
| Median Home Price | $377,000 |
| Median Household Income | $120,000 |