Quick facts: Bloomington, IN

Quick Facts

95.5
Cost of Living
below US average
79,107
Population
28.83
Crime Rate per 1000
above US average
$46,543
Median Income
below US average
$465,000
Median House Price
above US average
$3393.94
Average Rent
above US average
18%
Poverty Rate
above US average
6.2%
Unemployment Rate
above US average

πŸ’΅ Affordability Calculator

Based on the 28/36 rule: housing costs should not exceed 28% of your gross income. Compared against local median income of $46,543.

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Income Needed to Buy

βœ— Stretch
$146k/year
Based on $465,000 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $146k vs median $46,543
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Income Needed to Rent

⚠ Stretch
$145k/year
Based on $3393.94/month average rent
Annual income where rent = 28% of gross
⚠️ Requires $145k vs median $46,543
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Bloomington, IN

Bloomington, Indiana, is a vibrant city located in the south-central part of the state, known for its rich history and cultural offerings. Home to Indiana University, Bloomington boasts a youthful energy and a diverse population. The city's downtown area features a blend of shops, restaurants, and art galleries, contributing to its lively atmosphere. Outdoor enthusiasts can enjoy the nearby scenic beauty of the Hoosier National Forest, Lake Monroe, and many parks, perfect for hiking, biking, and picnicking. Bloomington is also renowned for its music scene, hosting numerous festivals and live performances year-round, including the popular Lotus World Music & Arts Festival. Culturally, the city is home to several museums and theaters, such as the Bloomington Community Arts Commission and the IU Art Museum, offering residents and visitors alike access to a variety of artistic and educational experiences. The local economy is supported by education, healthcare, and technology sectors, making it a hub for innovation and learning. Overall, Bloomington combines the charm of a small town with the sophistication of a cultural center, making it an attractive place to live and visit.

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