South Bend, IN—46613
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 $101,000, with a year-over-year change of 3.9%. This indicates that home prices in South Bend, IN are increasing. According to Zillow, the 1-year price projection is 2.0%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $101,000 | 3.9% |
| Single Family | $101,000 | 5.2% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $91,000 | 4.6% |
3 Bed | $111,000 | 4.7% |
4 Bed | $108,000 | 2.9% |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — South Bend, IN
As of July '25, Rentcast reports the average rent in South Bend, IN is $1,130, with a year-over-year rent change of 8.7%. Per bedroom, the median rent as of July '25 in South Bend, IN is 1-bedrooms: $700, 2-bedrooms: $990, 3-bedrooms: $1,290, 4-bedrooms: $1,400. The most common rental property sizes in South Bend, IN are 2-bedroom and 3-bedroom, accounting for 41.7% and 32.7% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,100 | $1,130 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $700 | $700 |
| 2 Bed Rent | $1,020 | $990 |
| 3 Bed Rent | $1,300 | $1,290 |
| 4 Bed Rent | $1,400 | $1,400 |
% 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 47. This is a decrease of -3.0% from last year, suggesting that homes are sitting on the market shorter than last year. The percentage of listed homes with a reduced price is 45.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $118,000 | -4.0% |
Listing Count | 31 | -39.0% |
| Listings as % of Homes | 0.5% | -39.0% |
Days on Market | 47 | -3.0% |
Demographics — South Bend, IN
As of the latest ACS Survey released in 2023, South Bend, IN has a population of 11,700, which has increased by 6.8% over the past 5 years. South Bend, IN is a popular place for families, as children make up 33.6% of the population. The area has a poorly educated workforce, with 13.1% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 8.4% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 11,700 | 6.8% |
% Under 18 | 33.6% | 26.8% |
% Seniors | 9.1% | 23.0% |
% WFH | 8.4% | 200.0% |
% w/ College Degree | 13.1% | 4.0% |
As of the latest ACS Survey released in 2023, South Bend, IN is a predominantly white area, with 41.2% of the population identifying as white. The white population has shrunk by 8.4% in the last 5 years. The second most common race or ethnicity in South Bend, IN is hispanic, making up 24.0% of the population. Foreign-born residents account for 8.9% of the population in South Bend, IN, and this percentage has decreased by 10.1% as of the ACS Survey 5 years prior, suggesting fewer immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 41.2% | -8.4% |
% Black | 23.0% | -18.1% |
% Hispanic | 24.0% | 18.8% |
% Asian | 1.6% | 14.3% |
% Foreign Born | 8.9% | -10.1% |
Mortgage and Risk — South Bend, IN
According to HUD data as of 2023, there were 189 mortgage originations in South Bend, IN, of which 69.0% of loans were conventional mortgages. The average loan-to-value was 72.0%, with 44.0% above 90% LTV (very high). This implies large mortgage risk in South Bend, IN. Investor activity is low, as 3.0% of loans were by investors. 15.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 189 |
% Conventional Loans | 69.0% |
% Government Loans | 31.0% |
% Investor Loans | 3.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 15.0% |
Loan Activity
Rentals and Section 8 — South Bend, IN
As of 2024, the percent of homes in South Bend, IN under the Section 8 program is 17.8%. This is considered high, suggesting that the neighborhood is heavily composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. In South Bend, IN, all tracked home sizes have HUD payment amounts above market rent, suggesting strong Section 8 opportunity across the board.
Section 8 Market Size
Total Units under HUD | 377 |
Total Units Section 8 | 336 |
% Rentals under Section 8 | 17.8% |
% Occupied Section 8 | 89.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $250 | $700 | $950 |
| 2 Bedroom | $90 | $1,020 | $1,110 |
| 3 Bedroom | $70 | $1,300 | $1,370 |
| 4 Bedroom | $70 | $1,400 | $1,470 |
Affordability — South Bend, IN
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 1.9 |
| Median Home Price | $101,000 |
| Median Household Income | $41,600 |