South Bend, IN—46615
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 $171,000, with a year-over-year change of 3.3%. This indicates that home prices in South Bend, IN are increasing. According to Zillow, the 1-year price projection is 2.9%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $171,000 | 3.3% |
| Single Family | $171,000 | 3.6% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $136,000 | 1.5% |
3 Bed | $185,000 | 4.5% |
4 Bed | $205,000 | 2.0% |
| 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 $1,170, with a year-over-year rent change of -5.6%. Per bedroom, the median rent as of July '25 in South Bend, IN is studios: $550, 1-bedrooms: $942, 2-bedrooms: $1,090, 3-bedrooms: $1,400, 4-bedrooms: $1,650. The most common rental property sizes in South Bend, IN are 2-bedroom and 3-bedroom, accounting for 41.8% and 32.4% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,100 | $1,170 |
| Studio Rent | $550 | $550 |
| 1 Bed Rent | $899 | $942 |
| 2 Bed Rent | $1,100 | $1,090 |
| 3 Bed Rent | $1,500 | $1,400 |
| 4 Bed Rent | $1,500 | $1,650 |
% 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 37. This is a decrease of -27.0% 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 47.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $195,000 | 1.0% |
Listing Count | 43 | -20.0% |
| Listings as % of Homes | 0.2% | -20.0% |
Days on Market | 37 | -27.0% |
Demographics — South Bend, IN
As of the latest ACS Survey released in 2023, South Bend, IN has a population of 14,400, which has increased by 11.5% over the past 5 years. South Bend, IN is a moderately popular place for families, as children make up 24.3% of the population. The area has a moderately educated workforce, with 32.8% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 10.6% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 14,400 | 11.5% |
% Under 18 | 24.3% | -1.2% |
% Seniors | 13.6% | 24.8% |
% WFH | 10.6% | 241.9% |
% w/ College Degree | 32.8% | 3.8% |
As of the latest ACS Survey released in 2023, South Bend, IN is a predominantly white area, with 65.4% of the population identifying as white. The white population has shrunk by 5.2% in the last 5 years. The second most common race or ethnicity in South Bend, IN is black, making up 14.4% of the population. Foreign-born residents account for 8.3% of the population in South Bend, IN, and this percentage has decreased by 11.7% 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 | 65.4% | -5.2% |
% Black | 14.4% | -4.6% |
% Hispanic | 10.2% | 52.2% |
% Asian | 2.8% | -31.7% |
% Foreign Born | 8.3% | -11.7% |
Mortgage and Risk — South Bend, IN
According to HUD data as of 2023, there were 367 mortgage originations in South Bend, IN, of which 83.0% of loans were conventional mortgages. The average loan-to-value was 64.0%, with 33.0% 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. 16.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 367 |
% Conventional Loans | 83.0% |
% Government Loans | 17.0% |
% Investor Loans | 3.0% |
% Second Loans | 2.0% |
% Cash Out Refinance | 16.0% |
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 20.3%. 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, none of the tracked home sizes currently have HUD payment amounts above market rent, suggesting limited Section 8 opportunity.
Section 8 Market Size
Total Units under HUD | 606 |
Total Units Section 8 | 515 |
% Rentals under Section 8 | 20.3% |
% Occupied Section 8 | 89.6% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$19 | $899 | $880 |
| 2 Bedroom | -$70 | $1,100 | $1,030 |
| 3 Bedroom | -$230 | $1,500 | $1,270 |
| 4 Bedroom | -$130 | $1,500 | $1,370 |
Affordability — South Bend, IN
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 2.5 |
| Median Home Price | $171,000 |
| Median Household Income | $58,000 |