Bloomington.

• Author: Marcus, Morton J.

A booming housing construction market continues to characterize the Bloomington economy. Year-to-date estimates from the U.S. Census Bureau indicate continuing growth (see Figure 1). Added to recent commercial and retail construction throughout the community, Monroe County has been well satisfied with its recent economic performance.

However, in the context of the U.S. economy and in comparison to other college communities, Bloomington does not have the same luster. Figure 2 shows that the Bloomington metropolitan area (Monroe County) had a 1.8 percent increase in housing units authorized compared to an 8.5 percent increase in the nation's other metro areas. Among the 330 metro areas for which we have data, Bloomington ranked 199th. Although several college communities rank lower than Bloomington, there are also others outperforming Bloomington by substantial rates, notably one that is fixed in our thoughts: Lubbock, Texas.

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Despite this continuing addition to the housing stock of the community, many argue that the Bloomington area does not offer sufficient affordable housing. Because of Indiana University, a sizable portion of the demand for housing in Bloomington is not only rented but purchased with funds from outside the area. As parents become more able to subsidize their children's housing, as tax laws encourage ownership of housing by the affluent, and as student loans increase the amount of funding available for students, young people are able to crowd out less-affluent resident families in the area. Although this may seem inequitable, it may not be bad for Bloomington if suitable housing is available in nearby communities.

Employment

Bloomington falls into an interesting group of Midwestern metro areas, all between 54,000 and 76,000 jobs. Included here are other places that have significant college populations (Iowa City, Tarre Haute, and Muncie), as well as places better known for their industrial muscle (Decatur, Waterloo, and Kenosha). Figure 3 reports the percent changes in employment these metro areas have experienced in the past year. Bloomington sits in the middle of this group and ranks 143rd out of 275 metro areas nationwide. (Lubbock ranked 99th.)

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Figure 4 indicates the percent losses and gains made in Bloomington and the U.S. over the past year. Clearly, professional and businesses services were hardest hit in...