The Most Affordable Neighborhoods in Bloomington, IL by Home Value

These days, finding an affordable place to live in the Bloomington area can be challenging. Home prices in Bloomington are now at a median cost of $226,127, lower than the Illinois average of $300,242.

The average cost of rent is $1,139/mo in Bloomington, primarily driven by the current value of real estate in the Bloomington area. In Bloomington, 35.83% of households rent, and 35.09% of homeowners own their homes outright.

Housing affordability isn’t just about home prices, though. The average household income in Bloomington is $8,241 per month. Households that rent pay about 13.82% of their income on rent here. Bloomington’s most expensive areas are in the southeastern regions, while the cheapest areas are in the southern parts of the city.

Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.

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