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Cost of Living in Bloomington

Is it better to rent or buy in Bloomington? Explore median costs, utility estimates, and run the numbers on your own budget to see how far your income goes.

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Rent vs. Buy Affordability Calculator

Adjust the sliders to match your scenario. We recommend keeping total housing costs under 40% of your gross income.

$68,610
$1,103/mo

Median in area: $1,103

$281,949

Median in area: $281,949

$56,390

If you Rent

🔑
$1,287 /mo
Base Rent$1,103
Est. Utilities$184
% of Income22.5%
Pre-tax Residual$4,431

If you Buy

🏠
$1,842 /mo
P&I (6.5%)$1,426
Taxes & Ins$232
Est. Utilities$184
% of Income32.2%
Pre-tax Residual$3,876

Cost of Living FAQs

Is it cheaper to rent or buy in Bloomington?›

Based on median housing data, renting is currently more affordable on a monthly basis in Bloomington. The estimated all-in monthly cost for renting is $1,287, while owning a median-priced home with a 20% down payment is roughly $1,842 per month (a difference of $555).

How much do utilities cost in Bloomington?›

The average monthly utility cost (electricity and natural gas) for a typical home in Bloomington is approximately $184. This estimate uses local utility rate schedules combined with median energy consumption profiles.

What is a good salary to live comfortably in Bloomington?›

To comfortably afford the median rent and utilities in Bloomington without exceeding the recommended 30% housing-to-income threshold, a household should earn a gross salary of approximately $51,480 per year.