South Bend, IN—46616
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 $136,000, with a year-over-year change of 1.7%. This indicates that home prices in South Bend, IN are increasing. According to Zillow, the 1-year price projection is 1.7%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $136,000 | 1.7% |
| Single Family | $136,000 | 2.3% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $120,000 | 4.3% |
3 Bed | $144,000 | 2.9% |
4 Bed | $165,000 | 0.6% |
| 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 $1,250, with a year-over-year rent change of -6.0%. Per bedroom, the median rent as of July '25 in South Bend, IN is 2-bedrooms: $1,040, 3-bedrooms: $1,240, 4-bedrooms: $1,480. The most common rental property sizes in South Bend, IN are 3-bedroom and 2-bedroom, accounting for 40.8% and 34.8% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,200 | $1,250 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | N/A | N/A |
| 2 Bed Rent | $1,050 | $1,040 |
| 3 Bed Rent | $1,300 | $1,240 |
| 4 Bed Rent | $1,450 | $1,480 |
% 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 41. This is a decrease of -1.0% from last year, suggesting that homes are sitting on the market about the same amount of time than last year. The percentage of listed homes with a reduced price is 26.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $175,000 | 11.0% |
Listing Count | 23 | -33.0% |
| Listings as % of Homes | 0.4% | -33.0% |
Days on Market | 41 | -1.0% |
Demographics — South Bend, IN
As of the latest ACS Survey released in 2023, South Bend, IN has a population of 6,220, which has increased by 10.0% over the past 5 years. South Bend, IN is a popular place for families, as children make up 25.7% of the population. The area has a moderately educated workforce, with 39.9% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 8.5% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 6,220 | 10.0% |
% Under 18 | 25.7% | -7.6% |
% Seniors | 13.7% | 37.0% |
% WFH | 8.5% | 117.9% |
% w/ College Degree | 39.9% | 44.6% |
As of the latest ACS Survey released in 2023, South Bend, IN is a predominantly white area, with 58.7% of the population identifying as white. The white population has grown by 1.7% in the last 5 years. The second most common race or ethnicity in South Bend, IN is black, making up 21.0% of the population. Foreign-born residents account for 5.2% of the population in South Bend, IN, and this percentage has decreased by 40.9% 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 | 58.7% | 1.7% |
% Black | 21.0% | -14.3% |
% Hispanic | 16.5% | 60.2% |
% Asian | 1.1% | -54.2% |
% Foreign Born | 5.2% | -40.9% |
Mortgage and Risk — South Bend, IN
According to HUD data as of 2023, there were 114 mortgage originations in South Bend, IN, of which 88.0% of loans were conventional mortgages. The average loan-to-value was 64.0%, with 26.0% 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. 11.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 114 |
% Conventional Loans | 88.0% |
% Government Loans | 12.0% |
% Investor Loans | 4.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 11.0% |
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 | 169 |
Total Units Section 8 | 143 |
% Rentals under Section 8 | 12.8% |
% Occupied Section 8 | 89.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | N/A | N/A | $960 |
| 2 Bedroom | $70 | $1,050 | $1,120 |
| 3 Bedroom | $80 | $1,300 | $1,380 |
| 4 Bedroom | $30 | $1,450 | $1,480 |
Affordability — South Bend, IN
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 2.1 |
| Median Home Price | $136,000 |
| Median Household Income | $56,300 |