Bloomington, IN Foreclosed Homes & Properties

Foreclosure Homes for Sale in Bloomington, IN: Everything You Need to Know

Bloomington has a blend of Midwestern values and international influences. The founding fathers and the Buddhist monks have left a mark on the heritage of this city. This area has also had a development of the arts, which form part of the local culture. There is a large number of artists in this town. There are various art galleries, theatres, and musical entertainment nearly every night of the year. Indiana University, built-in 1820, also shapes the city's cultural landscape and has brought about an abundant amount of diversity within the student body. International foods such as Turkish, Venezuelan, Italian, Thai, French, and so on are found abundantly. Some international food restaurants to visit are Dat’s (Cajun/Creole), Anyetsang’s Little Tibet, and The Irish Lion.

Bloomington Real Estate: Housing Availability 

You will find various architectural styles of houses throughout Bloomington. The most popular styles include the Cape Cod, Country French, Colonial, Victorian, Tudor, Craftsman, Ranch, Mediterranean, and Contemporary. Single-family dethatched homes are in high demand. The median home value of a house in this city is $242,708, with an appreciation rate of 10.75% in the last 12 months. The owner-occupied housing unit rate is 34.6%, meaning that about 65.4% of residents rent their homes. The average rental price for an apartment in Bloomington is $1,126, a 2% increase from the previous year.  

The Local Population 

The city of Bloomington has 85,755 residents, 11.3% being 18 years old or younger, and 9.2% being 65 years old or older. This region has a younger population, with the average age being 23.3 years old. The average household size is 2.24, and the average family size is 2.76 persons. 57.8% of the residents are part of the civilian workforce over the age of 16. The median household income is $34,435, and there are 36.6% living in poverty.

The Cost of Living in Bloomington  

The overall cost of living in Bloomington is 4% lower than the national average. Housing is 12% below, utilities are 5% below, and groceries and food are 4% below national standards. Median home prices are $304,319, with an average rent of $953.30 a month. The electricity bill runs about $159.11, and a phone bill will cost $169.61 a month. Gas prices are $2.63 a gallon. Food and groceries are less expensive in this area as well. Healthcare is also somewhat cheaper in this area. The combined sales tax is 8.75%.