Rent to own Homes in Bloomington, MN
Bloomington, Minnesota, is the fifth largest city in the state. People in Bloomington care a lot about the environment, as the west of the city holds the Hyland Lake Park Reserve, while the southeast holds the Minnesota Valley National Wildlife Refuge. The city of over 82,000 has over a thousand square feet of parkland.
Bloomington, MN is a great place for affordable rent-to-own homes! With a median household income of over $78,224 and a median rent of $1,220, the Bloomington, MN rent-to-own market is more affordable than the traditional housing market which has shown tremendous growth across the U.S. and with it, aggressive competition for home purchases. With the current housing shortage trend it can make it harder to become a homeowner, including in Bloomington, MN. This means higher than average down payments for homes and higher qualification standards for conventional home loans. With a rent-to-own property, tenants are also buyers. You can live in the house for a set amount of time before you purchase it, meaning that you get to know the house, your neighbors, and your community before making the final purchase. This enables you and your family to make the right choice based on both information and experience. Rent-to-own is also a great alternative way to get into a home if you have bad credit or don't have enough saved for a down payment.
More Bloomington, MN Property Resources
Rent to own Homes in Cities Near Bloomington, MN
- Arden Hills
- Brooklyn Center
- Brooklyn Park
- Cannon Falls
- Chanhassen
- Columbia Heights
- Cottage Grove
- Crystal
- Deephaven
- Dennison
- Elko New Market
- Gem Lake
- Hampton
- Hastings
- Inver Grove Heights
- Lake Elmo
- Landfall
- Maplewood
- Medicine Lake
- Mendota
- Mendota Heights
- Mounds View
- New Brighton
- Newport
- New Trier
- Northfield
- North St. Paul
- Oakdale
- Prior Lake
- Randolph
- Robbinsdale
- Rosemount
- Roseville
- Shakopee
- Shoreview
- Shorewood
- South St. Paul
- St. Louis Park
- St Paul
- Saint Paul
- St. Paul Park
- Sunfish Lake
- Vadnais Heights
- Vermillion
- Wayzata
- Webster
- West St. Paul
- White Bear Lake
- Woodbury
- Woodland
Neighborhoods in Bloomington, MN
South Loop rent to own homesPopular Zip Codes in Bloomington, MN
55437 rent to own homes 55438 rent to own homes 55420 rent to own homes 55425 rent to own homes 55431 rent to own homesBuying a Home in Bloomington, MN
Bloomington, MN is seeing rapid growth and Bloomington, MN's' housing market remains not optimal with an average home price that is 22% above the 2024 national average. Bloomington, MN is part of Hennepin county and taxes are an important factor to consider when purchasing a home whether through rent to own or a traditional purchase. The average tax rate as of 2024 for county Hennepin is 1.14% which is above the national average, which is 0.99%.
Median Home Price in Bloomington, MN
Median Rent in Bloomington, MN
Top Reasons to Live in Bloomington MN
Housing Statistics As of August of 2013, the average home sale price in Bloomington increased by 4% and was selling at $157 per sq. ft. Meanwhile, recently the median sales price per house climbed by 12.7%. This in turn has made the cost for an average house in 2013 about $198,000. There were about 362 home sales in 2012, which was just over a 10 percent increase from the year before.
Largest Employers in Bloomington Bloomington has some really large companies operating there that employ residents on a regular basis. Some of the largest employers include Toro, Donaldson Company, Express Scripts, Seagate Technologies, the United States Government, and Edmentum. The city is a good place to look for a job, and it's a retail magnet for businesses. Quite a few workers in town have jobs at the airport.
Nightlife in the City Bloomington has some great nightlife. Shantytown Grill on Pillsbury Ave. S. is a local favorite with great pub food and atmosphere. Poor Richard's Commonhouse on Normandale Blvd. is another classic pub. Joe Senser's Sports Theater on American Blvd. brings the best ingredients for a nice sports bar. Want a dive bar that shows the sports and throws in a mechanical bull just to mix things up? Head to Cowboy Jack's on Southtown Drive.
Neighborhood Guide Bloomington is more than just a suburb of the greater metro area. It's a city with an identity all its own. The city's proximity to Minneapolis - St. Paul Airport makes it a great location for airport workers and frequent travelers. The world-famous Mall of America is here as well. Here's a look at some of the neighborhoods Bloomington has to offer.