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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 $375,690, higher than the Minnesota average of $345,793.
The average cost of rent is $1,628/mo in Bloomington, primarily driven by the current value of real estate in the Bloomington area. In Bloomington, 34.25% of households rent, and 38.05% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Bloomington is $8,223 per month. Households that rent pay about 19.80% of their income on rent here. Bloomington’s most expensive areas are in the western regions, while the cheapest areas are in the northeastern parts of the city.
Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.
Nearby Cities
- Richfield, MN: less expensive homes
- Edina, MN: higher priced homes
- Burnsville, MN: equally priced homes
- Savage, MN: higher priced homes
- Eden Prairie, MN: higher priced homes
- Eagan, MN: equally priced homes
- Hopkins, MN: higher priced homes
- Apple Valley, MN: equally priced homes
- Mendota, MN: higher priced homes
- St. Louis Park, MN: higher priced homes
Cities with Similar Populations
- Lancaster, PA: less expensive homes
- Lakeland, FL: less expensive homes
- Kenosha, WI: less expensive homes
- Irving, TX: higher priced homes
- Katy, TX: equally priced homes
- Jackson, TN: less expensive homes
- Kalamazoo, MI: less expensive homes
- Jonesboro, AR: less expensive homes
- Jersey City, NJ: higher priced homes
- Jackson, MS: less expensive homes
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