South Bend, IN—46617
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 $306,000, with a year-over-year change of 5.8%. This indicates that home prices in South Bend, IN are increasing. According to Zillow, the 1-year price projection is 2.8%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $306,000 | 5.8% |
| Single Family | $291,000 | 5.4% |
| Condos | $632,000 | 10.7% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $206,000 | 5.1% |
3 Bed | $296,000 | 5.0% |
4 Bed | $475,000 | 6.5% |
| 5 Bed | $686,000 | 7.0% |
% of Housing Stock
Rental Trends — South Bend, IN
As of July '25, Rentcast reports the average rent in South Bend, IN is $1,900, with a year-over-year rent change of 11.1%. Per bedroom, the median rent as of July '25 in South Bend, IN is studios: $1,080, 1-bedrooms: $1,230, 2-bedrooms: $1,200, 3-bedrooms: $2,180, 4-bedrooms: $2,440. The most common rental property sizes in South Bend, IN are 2-bedroom and 3-bedroom, accounting for 37.8% and 23.8% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,550 | $1,900 |
| Studio Rent | $1,200 | $1,080 |
| 1 Bed Rent | $1,100 | $1,230 |
| 2 Bed Rent | $1,200 | $1,200 |
| 3 Bed Rent | $1,750 | $2,180 |
| 4 Bed Rent | $2,000 | $2,440 |
% 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 40. This is a decrease of -2.0% 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 6.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $748,000 | 19.0% |
Listing Count | 62 | -3.0% |
| Listings as % of Homes | 0.5% | -3.0% |
Days on Market | 40 | -2.0% |
Demographics — South Bend, IN
As of the latest ACS Survey released in 2023, South Bend, IN has a population of 10,400, which has increased by 10.4% over the past 5 years. South Bend, IN is a moderately popular place for families, as children make up 15.4% of the population. The area has a highly educated workforce, with 60.0% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 16.7% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 10,400 | 10.4% |
% Under 18 | 15.4% | -37.7% |
% Seniors | 19.2% | 16.4% |
% WFH | 16.7% | 297.6% |
% w/ College Degree | 60.0% | 11.3% |
As of the latest ACS Survey released in 2023, South Bend, IN is a predominantly white area, with 68.0% of the population identifying as white. The white population has shrunk by 5.4% in the last 5 years. The second most common race or ethnicity in South Bend, IN is black, making up 14.0% of the population. Foreign-born residents account for 9.8% of the population in South Bend, IN, and this percentage has increased by 63.3% 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 | 68.0% | -5.4% |
% Black | 14.0% | -18.1% |
% Hispanic | 8.3% | 25.8% |
% Asian | 2.7% | 68.8% |
% Foreign Born | 9.8% | 63.3% |
Mortgage and Risk — South Bend, IN
According to HUD data as of 2023, there were 151 mortgage originations in South Bend, IN, of which 93.0% of loans were conventional mortgages. The average loan-to-value was 59.0%, with 18.0% above 90% LTV (elevated). This implies medium mortgage risk in South Bend, IN. Investor activity is low, as 5.0% of loans were by investors. 13.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 151 |
% Conventional Loans | 93.0% |
% Government Loans | 7.0% |
% Investor Loans | 5.0% |
% Second Loans | 11.0% |
% Cash Out Refinance | 13.0% |
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 1.5%. This is considered low, suggesting that the neighborhood is sparsely composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. 1-bedroom and 2-bedroom and 3-bedroom units appear to be good home sizes to consider for Section 8 housing in South Bend, IN, because HUD payments exceed market rent, while 4-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 137 |
Total Units Section 8 | 38 |
% Rentals under Section 8 | 1.5% |
% Occupied Section 8 | 89.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $180 | $1,100 | $1,280 |
| 2 Bedroom | $300 | $1,200 | $1,500 |
| 3 Bedroom | $100 | $1,750 | $1,850 |
| 4 Bedroom | -$10 | $2,000 | $1,990 |
Affordability — South Bend, IN
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.4 |
| Median Home Price | $306,000 |
| Median Household Income | $73,700 |