Real Estate Investing in Bloomington, Illinois (61704)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 61704 (Bloomington, IL)? Our answer, based on the numbers below.
Solid choice — values are growing steadily and the market is stable enough to buy with confidence.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
No major risk flags on the data we track.
What’s happening in Bloomington, IL (61704)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 61704 Bloomington
Investors eyeing 61704 need to respect the fundamentals at play. Home values of $332K come alongside slower price movement and elevated management overhead.
For an experienced owner, 61704 can be a a credible choice for hunting ground — but the discount at $332K reflects genuine risk that outside investors often underestimate.
Regionally, 61704 sits on the difficult end of the IL spectrum. The a solid fit for read — for disciplined operators — is that pricing reflects the difficulty.
A durable renter share of 34% in 61704 is not, on its own, a problem — but paired with below-average income and high mobility, it changes the operating playbook.
The right play in 61704 usually involves deep tenant screening, aggressive delinquency response, and a conservative capex buffer. Anything less, and the discount can turn into a trap.
Here's what matters if you're considering buying a home in Bloomington:
Property Strategy for 61704
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $194,959 | $1,430 | 5.3% | +9.5% | $97,479 |
| 3BR | $259,981 | $1,890 | 5.2% | +9.0% | $86,660 |
| 4BR | $350,460 | $1,890 | 3.9% | +8.7% | $87,615 |
| 5BR | $476,095 | — | — | +8.0% | $95,219 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 61704 Compare?
| Metric | 61704 | Bloomington | Bloomington, IL | Illinois |
|---|---|---|---|---|
| Home Value | $332,466 | $196,740 | N/A | $279,761 |
| 5-Year CAGR | 7.5% | 7.1% | N/A | 6.6% |
| Avg Rent | $1,516 | $1,314 | N/A | - |
| Cap Rate | 3.6% | 3.7% | - | - |
Similar ZIPs Within 25 Miles
Compare other nearby markets to see if a neighbor offers a better fit.
Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 61704 (Bloomington, IL). Anonymous, moderated, never written by AI.
Do you own or manage rentals in ZIP 61704 (Bloomington, IL)?
~25 seconds · no account needed · your report is anonymous
📊 Market Snapshot
| Home Value | $332,466 |
| Monthly Rent | $1,516 |
| Price-to-Rent | 18.3:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 5.5% |
| Cap Rate | 3.6% |
| 5-Year IRR | 11.1% |
📈 Home Appreciation
| 1-Year | +5.2% ▲ |
| 3-Year CAGR | +6.6% ▲ |
| 5-Year CAGR | +7.5% ▲ |
| 10-Year CAGR | +5.2% ▲ |
🏠 Rent Trends
| 1-Year | +10.4% ▲ |
| 3-Year CAGR | +6.9% ▲ |
| 5-Year CAGR | N/A |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (3.6%). Financing reduces your cash-on-cash return below the cap rate. Markets like this may still make sense as IRR plays — factoring in appreciation, depreciation, and a future refinance when rates drop.
Run an IRR Analysis →⚠️ Risk Signals
Composite view of factors that can impact a ZIP's stability and your downside risk.
Demographics in 61704
Population: 36,938
Crime & Safety
Crime & Safety Data Coming Soon
We're integrating comprehensive crime statistics including violent crime rates, property crime, and safety scores to help you make informed investment decisions.
Expected: Q1 2025
🎓 Schools in 61704
Schools in This ZIP Code
Nearby Schools (5 more)
Schools in adjacent ZIP codes that may serve this area
Bloomington Jr High School
Bent Elem School
Irving Elementary School
Oakland Elementary School
Sheridan Elem School
About Repit School Scores
Traditional school ratings rely heavily on standardized test scores, which often reflect family income more than school quality. Repit takes a different approach.
We evaluate schools based on factors that research shows actually impact educational outcomes:
- Class Size — Smaller classes mean more individual attention
- School Funding — Resources available for programs, staff, and facilities
- Community Factors — Neighborhood characteristics that influence student success
- School Environment — Size, type, and structure
Scores are updated annually using federal education data.
🎓 Nearby Colleges & Universities
Investor Insight: With 3,442 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
Where do rents currently stand in Bloomington, IL?
The typical rental in Bloomington, IL commands about $1,516/mo monthly. That rent profile steady cash flow against the $332K purchase basis.
What is the typical home price in Bloomington, IL?
Homes in Bloomington, IL typically sell near $332K. Prices have moved at a 0.0% 5-year CAGR, which reliable long-term demand.
How tight is the rental market in Bloomington, IL?
Bloomington, IL carries elevated vacancy risk. Expect steady absorption at market rents of $1,516/mo.
Is Bloomington, IL better for rentals, flips, or BRRRR?
For Bloomington, IL, careful cash-flow rentals with hands-on management is the standard investor playbook. The market structure makes it a reasonable default approach.
Should investors consider Bloomington, IL?
The 3.0/5 investability rating in Bloomington, IL reflects its $332K prices and $1,516/mo rents. Investors generally consider it a solid option within IL.
You know 61704 now. You don’t know where it ranks.
This page stays free — all of it. What one page can’t tell you is how 61704 compares to every other market. Investor ($19/mo) screens every U.S. ZIP by cap rate, the 1% rule, vacancy and landlord climate, and exports your shortlist.
How 61704 ranks in Bloomington, IL
Every ZIP in this metro, ranked. Free.
AI Market Advisor
Ask questions about investing in 61704 (Bloomington)
Community Ratings
What people who’ve spent time here actually say. Not paid reviews.
Be the first to rate 61704 (Bloomington, IL).
It takes 30 seconds. No signup. Your rating helps everyone who comes here after you.