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Bloomington

Learn about the people, housing, costs and businesses in Bloomington

Median Home$281,949
Median Rent$1,103/month
Population162,569
Leading IndustriesPublic Administration · Professional Services34% public administration
Home Value Growth⬆⬆+12.0% over 2 years
Young Adults42% of residentstop 2% nationally
Homeowners57% of occupied units
Bloomington

Frequently Asked Questions

What are today's mortgage rates in Bloomington?

Mortgage rates for Bloomington are updated daily on Safe Rate using live investor pricing. Rates depend on your credit score, loan type (Conventional, FHA, VA, Jumbo), and down payment. A 30-year fixed rate is the most common product for home purchases.

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What is the median home price in Bloomington?

The median home value in Bloomington is $282k. The median monthly rent is $1,103. Annual property taxes average $2k. Home values are based on U.S. Census Bureau American Community Survey estimates.

Are home values rising in Bloomington?

Home values in Bloomington have increased 12.0% over the past two years. This indicates a strong appreciation trend. This data is sourced from the Federal Housing Finance Agency (FHFA) House Price Index.

How much income do you need to buy a home in Bloomington?

Based on a typical all-in ownership cost of $1,107/month (mortgage, taxes, insurance), you'd generally need a household income of approximately $47k/year to keep housing costs at or below 28% of gross income — a common lender guideline. The median household income in Bloomington is $69k/year.

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What industries drive the economy in Bloomington?

The largest employment sectors in Bloomington are public administration (34%) and retail (12%) of the local workforce. Industry data is sourced from the U.S. Census Bureau American Community Survey.