South Bend, IN—46601
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — South Bend, IN
As of Oct '25, the median home price in South Bend, IN is $137,000, with a year-over-year change of -1.0%. This indicates that home prices in South Bend, IN are flat. According to Zillow, the 1-year price projection is 2.2%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $137,000 | -1.0% |
| Single Family | $136,000 | -1.4% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | N/A | N/A |
3 Bed | $139,000 | -0.7% |
4 Bed | $155,000 | 2.0% |
| 5 Bed | $167,000 | -1.8% |
% of Housing Stock
Rental Trends — South Bend, IN
As of July '25, Rentcast reports the average rent in South Bend, IN is $1,270, with a year-over-year rent change of 21.0%. Per bedroom, the median rent as of July '25 in South Bend, IN is studios: $776, 1-bedrooms: $924, 2-bedrooms: $1,480, 3-bedrooms: $1,430. The most common rental property sizes in South Bend, IN are 1-bedroom and 2-bedroom, accounting for 44.2% and 24.6% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,050 | $1,270 |
| Studio Rent | $800 | $776 |
| 1 Bed Rent | $800 | $924 |
| 2 Bed Rent | $1,050 | $1,480 |
| 3 Bed Rent | $1,280 | $1,430 |
| 4 Bed Rent | N/A | N/A |
% of Rental Stock
Property Listings — South Bend, IN
As of Oct '25, Realtor.com reports that the median days on market for a home in South Bend, IN is 65. This is a increase of 12.0% from last year, suggesting that homes are sitting on the market longer than last year. The percentage of listed homes with a reduced price is 60.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $217,000 | 0.0% |
Listing Count | 10 | -3.0% |
| Listings as % of Homes | 0.1% | -3.0% |
Days on Market | 65 | 12.0% |
Demographics — South Bend, IN
As of the latest ACS Survey released in 2023, South Bend, IN has a population of 4,930, which has decreased by -17.8% over the past 5 years. South Bend, IN is a moderately popular place for families, as children make up 18.7% of the population. The area has a poorly educated workforce, with 22.5% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 10.7% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 4,930 | -17.8% |
% Under 18 | 18.7% | -21.1% |
% Seniors | 15.2% | 38.2% |
% WFH | 10.7% | 970.0% |
% w/ College Degree | 22.5% | 23.6% |
As of the latest ACS Survey released in 2023, South Bend, IN is a predominantly white area, with 52.7% of the population identifying as white. The white population has grown by 26.4% in the last 5 years. The second most common race or ethnicity in South Bend, IN is black, making up 29.8% of the population. Foreign-born residents account for 5.0% of the population in South Bend, IN, and this percentage has increased by 85.2% as of the ACS Survey 5 years prior, suggesting more immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 52.7% | 26.4% |
% Black | 29.8% | -36.7% |
% Hispanic | 9.3% | 57.6% |
% Asian | 0.4% | -20.0% |
% Foreign Born | 5.0% | 85.2% |
Mortgage and Risk — South Bend, IN
According to HUD data as of 2023, there were 26 mortgage originations in South Bend, IN, of which 81.0% of loans were conventional mortgages. The average loan-to-value was 66.0%, with 27.0% above 90% LTV (very high). This implies large mortgage risk in South Bend, IN. Investor activity is low, as 4.0% of loans were by investors. 31.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 26 |
% Conventional Loans | 81.0% |
% Government Loans | 19.0% |
% Investor Loans | 4.0% |
% Second Loans | 4.0% |
% Cash Out Refinance | 31.0% |
Loan Activity
Rentals and Section 8 — South Bend, IN
South Bend, IN lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 839 |
Total Units Section 8 | 608 |
% Rentals under Section 8 | 38.5% |
% Occupied Section 8 | 90.5% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$10 | $800 | $790 |
| 2 Bedroom | -$120 | $1,050 | $930 |
| 3 Bedroom | -$130 | $1,280 | $1,150 |
| 4 Bedroom | N/A | N/A | $1,230 |
Affordability — South Bend, IN
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 4.6 |
| Median Home Price | $137,000 |
| Median Household Income | $27,100 |