Retire in Bloomington

Affordability

Find out how much it costs to live in Bloomington.

Cost of Living

Kiplinger Rating:

Not Tax Friendly

State Income Tax:

Social Security Tax?

None

County + State Sales Tax

7%

Property Tax Rate *

0.7%

Property Tax Ranking (County Property Tax rank out of 2,773, higher rank=lower rate) *

1563

* 2008-2010

Cost of Living Index (100=average):

90.2

Housing + transportation costs as % of income:

54%

Tax Details

State Sales Tax Breaks for Seniors:

None

Pensions Taxed?

Yes

Tax burden: % income going to state and local taxes:

9.5%

Inheritance and estate taxes (per Kiplinger):

None

Taxing of other retirement income (per Kiplinger):

Yes

Property Tax Break for Seniors (per Kiplinger):

Homeowners 65 and older who earn $25,000 or less (combined for a married couple) are eligible to receive a tax reduction on property with an assessed value of $182,430 or less. A surviving spouse is entitled to the deduction if he or she is at least 60 years old and the deceased was at least 65 at the time of death. The amount of the deduction is the lesser of one-half of the assessed value of the property or $12,480. Veterans 62 or older with a disability of at least 10% may qualify for a similar deduction.\n

 

For more detailed tax information from Kiplinger, visit www.kiplinger.com/tool/retirement/T055-S001-state-by-state-guide-to-taxes-on-retirees/

Real Estate

eRetirements has partnered with a network of over 12,500 top performing Realtors covering 91% of the United States. These Realtors will show you around town, assist you in viewing properties, and provide you with local info that would be nearly impossible to discover on your own.

Real Estate overview not available for Bloomington

To learn more about real estate in Bloomington book a visit and we'll help you find the right place to live.

Work Potential

  • Area
  • National Average

5 Largest Companies

  • Indiana University - Bloomington
  • Cook Group, Inc.
  • Indiana University Health Bloomington
  • Monroe County Community School Corporation
  • Baxter Healthcare Pharmaceuticals

GDP Growth Last 3 Years

1.6%

Income Growth Last 3 Years

9.3%

Employment Growth Last 3 Years

0%

Top Industries Hiring

  • Other services (except public administration)
  • Finance and insurance
  • Transportation and warehousing
  • Administrative and support and waste management and remediation services
  • Educational services

Breakdown Fulltime vs Part Time over 65 (%)

  • Part Time over 65
  • Full Time Over 65

Occupation Breakdown (%)

  • Management, Business, Science & Arts (MBSA)
  • Natural Resources, Contruction & Maintenance (NRCM)
  • Production, Transportation, Materials & Moving (PTMM)
  • Sales & Office (S&O)
  • Service

Didn't find what you're looking for? Ask the community a question.