Bloomington, IN mortgage & affordability calculator
The typical home in Bloomington, IN is worth about $300,000.
With 20% down that's a loan near $240,000 — the calculator
is pre-filled with that figure. Indiana University's flagship Bloomington campus dominates the local economy and housing market, with a large student rental sector that keeps vacancy low and pushes home prices well above the rest of southern Indiana.
$1,558.23 / month
Total interest
$320,964
Total paid
$560,964
Payoff
30.0 years
How much you need to earn
Bloomington, IN's median household income is about
$62,000 a year. Under standard 28/36
lending rules that supports a home price around
$229,936 with 20% down —
below the $300,000 typical price, so many buyers need a larger down payment, a co-borrower, or a longer commute.
Typical asking rent in Bloomington, IN is about $1,250 a month, so owning the median home costs roughly
$652 more per month before tax
effects, maintenance, and any change in home value.
Frequently asked questions
What is a typical mortgage payment in Bloomington, IN?
On the metro's roughly $300,000 typical home with 20% down, the loan is about $240,000. Principal and interest run near $1,558 a month at today's rate, and Bloomington, IN's property tax plus insurance add about $343, for a full payment near $1,902.
Can I afford a home in Bloomington, IN on the median income?
The median household income is about $62,000 a year. Under standard 28/36 lending rules that supports a home price around $229,936 with 20% down — below the $300,000 typical price, so buyers often need a larger down payment or a co-borrower.
Is it cheaper to rent or buy in Bloomington, IN?
Typical asking rent is about $1,250 a month. The full owner payment on a median home is near $1,902, so owning costs roughly $652 more per month before tax effects, maintenance, and any appreciation.
How much are property taxes in Bloomington, IN?
The effective property tax rate in the core county is about 0.84% of market value — roughly $2,520 a year on the typical home. Your exact rate depends on the municipality and any exemptions.
Are home prices in Bloomington, IN rising or falling?
Home values are up about 3% over the past year. Indiana University's flagship Bloomington campus dominates the local economy and housing market, with a large student rental sector that keeps vacancy low and pushes home prices well above the rest of southern Indiana.