Analytics built by: Location, Inc.
Raw data sources: American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data
With 24,339 people, 5,924 houses or apartments, and a median cost of homes of $576,140, real estate costs in Bloomington are among some of the highest in the nation, although house prices here don't compare to real estate prices in the most expensive California communities.
Single-family detached homes are the single most common housing type in Bloomington, accounting for 80.91% of the town's housing units. Other types of housing that are prevalent in Bloomington include mobile homes or trailers ( 8.54%), large apartment complexes or high rise apartments ( 5.78%), and a few row houses and other attached homes ( 2.87%).
The most prevalent building size and type in Bloomington are three and four bedroom dwellings, chiefly found in single-family detached homes. The town has a mixture of owners and renters, with 64.44% owning and 35.56% renting.
At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. Bloomington's housing was primarily built during this period, from the '40s through the '60s. A full 43.35% of the town's housing hails from this era. Other housing ages represented in Bloomington include homes built between 1970-1999 ( 40.38%) and housing constructed between 2000 and later ( 13.20%). There's also some housing in Bloomington built before 1939 ( 3.07%).
In the last 10 years, Bloomington has experienced some of the highest home appreciation rates of any community in the nation. Bloomington real estate appreciated 149.23% over the last ten years, which is an average annual home appreciation rate of 9.56%, putting Bloomington in the top 10% nationally for real estate appreciation. If you are a home buyer or real estate investor, Bloomington definitely has a track record of being one of the best long term real estate investments in America through the last ten years.
NeighborhoodScout's data show that during the latest twelve months, Bloomington's appreciation rate, at 7.07%, has been at or slightly above the national average. In the latest quarter, Bloomington's appreciation rate has been 2.37%, which annualizes to a rate of 9.83%.
Relative to California, our data show that Bloomington's latest annual appreciation rate is higher than 60% of the other cities and towns in California.
$576,140
for California
for nation
5,924
$2,705 / per month