Neighborhood vitality indicators such as property values, rental occupancy rates, distance from wellness activities and grocery stores, presence of City-supported art projects, and public school state rankings paint a picture of healthy, vibrant, and connected neighborhoods. For many of Bloomington’s neighborhoods, housing values have increased dramatically over the last twenty years. This is especially true in the City’s core neighborhoods, where single family homes routinely list in excess of $300,000. For property owners, Bloomington’s neighborhoods are extremely healthy.
Housing Values In Bloomington, Indiana
The negative side of this healthy value appreciation is that Bloomington is facing a dire housing crisis. In 2017, Bloomington’s average monthly apartment rent was $894, making it the most expensive rental market in the state. This problem likely will escalate as more people migrate to Bloomington. A recent report stated that the Bloomington Metropolitan Statistical Area (MSA) will need to add 13,000 new housing units by 2030 to keep up with population growth. Without increased density, a continued influx of demand will only continue to raise housing prices. This will disproportionately impact low-income earners. Already, only a small percentage of housing is available for economically insecure individuals. Homelessness in Bloomington has increased over the past ten years, climbing from approximately 200 people in 2009 to nearly 350 in 2017. The increase largely stemmed from single individuals, rather than families.
Outside of the Kirkwood corridor, Bloomington’s neighborhoods have not seen similar spikes in safety and civility issues. The majority of BPD’s calls for service are within five blocks of Walnut Street. A consequence is that specific neighborhoods, such as the area between Bryan Park and Walnut Street, experience the impact of these issues more than other areas of the city.