Bloomington, Indiana Housing Market Prices
Bloomington Home Prices and Rent at a Glance
The median home price (often called the average home price), rent costs, affordability metrics, and housing stock characteristics for this housing market.
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Median home price 82% above the Indiana median$259,652
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Median rent 14% above the Indiana median$1,210
Housing Market Overview
| Metric | Bloomington | Indiana Avg | US Average |
|---|---|---|---|
| Median Home Price | $259,652 | $142,738 | $248,835 |
| Price Trend (Annual %) | 20.4% | 7.2% | 7.5% |
| Median Gross Rent | $1,210 | $1,062 | $1,407 |
| Rent Trend (Annual %) | 4.6% | 4.3% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Bloomington is about 82% higher than in Indiana. Rent is about 14% higher than the Indiana average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2024
Median Rent Prices, 2015-2024
Both home prices and rent are rising in Bloomington, up about 20.4% and 4.6% a year respectively. Home prices are changing faster.
Median rent in Bloomington rose about 44.8% between 2015 and 2024, from $836 to $1,210. Over the same span, rent in Indiana rose about 42.6%.
Affordability
On average, housing unit costs 5.1 yearly household incomes in Bloomington.
Buying the median-priced home in Bloomington costs roughly 17.9 years of rent at the median monthly rate. That is a moderate price-to-rent ratio, where buying and renting are often similarly cost-effective in Bloomington. The price-to-rent ratio in Indiana is about 11.2.
| Metric | Bloomington | Indiana Avg | US Average |
|---|---|---|---|
| Median Home Price | $259,652 | $142,738 | $248,835 |
| Median Household Income | $50,462 | $71,967 | $80,455 |
| Price-to-Income Ratio | 5.1 | 2.0 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Bloomington rose about 140.3%, while median household income rose about 89.4% between 2009 and 2025 — the home price grew faster than income.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Bloomington | Indiana Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 30.2% | 64.4% | 58.5% |
| Rental Rate | 58.2% | 26.9% | 31.2% |
| Vacancy Rate | 11.6% | 8.8% | 10.2% |
| Median Tenure (years) | 8.0 | 15.0 | 15.0 |
| Median Year Moved In | 2018 | 2011 | 2011 |
Bloomington has a homeownership rate of 30.2%, lower than the Indiana average of 64.4%. Its housing vacancy rate is 11.6%, compared with 8.8% in Indiana.
Housing Stock
| Metric | Bloomington | Indiana Avg | US Average |
|---|---|---|---|
| Average Household Size | 1.94 people | 2.45 people | 2.53 people |
| Median Structure Built Year | 1982 | 1975 | 1978 |
| Median Number of Rooms | 4.5 | 5.9 | 5.5 |
The typical housing unit in Bloomington was built around 1982. On average, 1.9 people live in a home with about 4.5 rooms, staying for about 8.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Bloomington, Indiana.
What is the median home price in Bloomington, Indiana?
The median home price in Bloomington, Indiana is $259,652, higher than the Indiana average of $142,738.
What is the average home price in Bloomington, Indiana?
The typical home price in Bloomington, Indiana, reported as the median sale price, is $259,652. The median is used instead of a mathematical average because it is not skewed by a small number of very expensive or very cheap homes, so it better reflects what a typical buyer pays.
What is the median rent in Bloomington, Indiana?
The median gross rent in Bloomington, Indiana is $1,210 per month, higher than the Indiana average of $1,062.
What was the median gross rent in Bloomington in 2020?
In 2020, the median gross rent in Bloomington, Indiana was $970 per month.
What is the price-to-rent ratio in Bloomington, Indiana?
The price-to-rent ratio in Bloomington, Indiana is about 17.9, meaning it would take roughly 17.9 years of rent payments at the median rent to equal the median home price. That is a moderate price-to-rent ratio, where buying and renting are often similarly cost-effective in Bloomington.
Are home prices or rent rising faster in Bloomington, Indiana?
Both home prices and rent are rising in Bloomington, up about 20.4% and 4.6% a year respectively. Home prices are changing faster.
What is the homeownership rate in Bloomington, Indiana?
30.2% of households in Bloomington, Indiana own their home, lower than the Indiana average of 64.4%.
What is the vacancy rate in Bloomington, Indiana?
The housing vacancy rate in Bloomington, Indiana is 11.6%, higher than the Indiana average of 8.8%.
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