Bloomington, IL

Very Low · 70

Illinois · Population 78,703 · Updated March 2026

$1,004
Median Rent / Month
$75,449
Median Income
$198,800
Median Home Value
$1,118
Owner Costs / Month

Affordability

How far your income goes in Bloomington

16.0%
Rent-to-Income Ratio
Affordable
Rent takes less than 25% of median income — considered affordable by HUD standards.

Tax Burden in Illinois

State-level tax rates that affect your costs

4.95%
Income Tax (Top Rate)
6.25%
Sales Tax
2.07%
Property Tax Rate

Estimated Annual Costs

$12,048
Annual Rent
$3,735
State Income Tax
$4,115
Property Tax (est.)

Cost of Living Overview

Bloomington is significantly cheaper than the national average, making it an attractive option for budget-conscious individuals and families. With a cost index of 70 (where 100 equals the national median), Bloomington residents can expect to pay median rent of $1,004/month while earning a median household income of $75,449/year.

The median home value in Bloomington, IL is $198,800, with typical monthly owner costs around $1,118 including mortgage, insurance, and taxes. The median rent-to-income ratio of 16.0% means housing is relatively affordable here — well below the 30% threshold that HUD considers cost-burdened.

Illinois has a moderate income tax rate of 4.95%. Combined with a 6.25% sales tax rate and 2.07% effective property tax rate, the overall tax environment is a factor in the total cost of living in Bloomington.

Frequently Asked Questions

Common questions about living costs in Bloomington

What is the cost of living in Bloomington, IL?
The cost of living index in Bloomington, IL is 70 (US average = 100). Median monthly rent is $1,004, median household income is $75,449/year, and the median home value is $198,800.
Is Bloomington, IL affordable?
Yes, Bloomington is more affordable than the national average with a cost index of 70. The rent-to-income ratio is 16.0%—below the 30%% threshold considered affordable by HUD.
What is the average rent in Bloomington, IL?
The median gross rent in Bloomington, IL is $1,004 per month according to the US Census Bureau ACS 2023 data. Annual rent costs approximately $12,048.
What is the median household income in Bloomington?
The median household income in Bloomington, IL is $75,449 per year. This compares to the national median of approximately $80,000.
What are the taxes like in Illinois?
Illinois has a top income tax rate of 4.95%, a sales tax of 6.25%, and an effective property tax rate of 2.07%.