Analytics built by: Location, Inc.
Raw data sources: American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data
With a population of 78,864, 33,885 total housing units (homes and apartments), and a median house value of $262,877, Bloomington real estate and house prices are near the national average for all cities and towns.
Single-family detached homes are the single most common housing type in Bloomington, accounting for 54.83% of the city's housing units. Other types of housing that are prevalent in Bloomington include large apartment complexes or high rise apartments ( 26.54%), duplexes, homes converted to apartments or other small apartment buildings ( 8.63%), and a few row houses and other attached homes ( 5.33%).
The most prevalent building size and type in Bloomington are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 59.55% owning and 40.45% renting.
There is a lot of housing in Bloomington built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Bloomington built between 2000 and later ( 22.21%). A lesser amount of the housing stock also hails from between 1940-1969 ( 20.09%). There's also some housing in Bloomington built before 1939 ( 14.56%).
Some of the lowest real estate appreciation rates in America over the last ten years have been in Bloomington, where house values have increased just 51.98%, which is annualized rate of 4.27%. This rate is lower than the appreciation rate found in 90% of the cities and towns in America.
Over the last year, Bloomington appreciation rates have trailed the rest of the nation. In the last twelve months, Bloomington's appreciation rate has been 3.84%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Bloomington were at 3.69%, which equates to an annual appreciation rate of 15.61%.
Importantly, this makes Bloomington one of the highest appreciating communities in the nation for the latest quarter, and may signal the city's near-future real estate investment strength.
Relative to Illinois, our data show that Bloomington's latest annual appreciation rate is lower than 90% of the other cities and towns in Illinois.
One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Bloomington differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Bloomington - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Bloomington real estate investment or home purchase decisions.
$262,877
for Illinois
for nation
33,885
$1,721 / per month