Bloomington is where Brian lives and works. It's Minnesota's fourth-largest city, with roughly 90,000 residents, three major lakes, more than 90 parks, and a housing market that's held steady even through recent rate cycles. For homeowners aged 55+ who've spent decades building equity here, it's one of the most compelling places in the state to plan a retirement around your home.
The Bloomington housing market
Median home values in Bloomington sit in the mid-$300s to low-$400s depending on neighborhood, with West Bloomington and areas near Normandale Lake commanding a premium. Inventory has stayed tight since 2022, which has been kind to long-term owners considering a reverse mortgage or a downsize into a townhome or 55+ community.
Reverse mortgages in Bloomington
Many Bloomington homeowners bought in the 1980s and 1990s and now sit on $300K–$600K of equity. A HECM reverse mortgage can eliminate their monthly principal and interest payment, or fund a HECM for Purchase move into a Bloomington townhome or a 55+ community like Southbridge or Applewood Pointe, without a new mortgage payment.
Neighborhoods
- West Bloomington & Normandale Hills
- East Bloomington & Nine Mile Creek
- Poplar Bridge
- Oak Grove
- Bloomington Ferry
- Southtown & Penn South
Loan options for Bloomington
- Reverse Mortgage (HECM)
- HECM for Purchase
- Conventional 30-year
- FHA & VA
- Jumbo (for West Bloomington)
- Rate & term refinance
Attractions & landmarks
- Normandale Lake & Bandshell
- Hyland Lake Park Reserve
- Bush Lake
- Old Cedar Avenue Bridge
- Minnesota Valley National Wildlife Refuge
- Mall of America
Schools
Bloomington Public Schools serves the city with strong programs at Jefferson and Kennedy High Schools. Private options include Academy of the Holy Angels in nearby Richfield.