South Bend, IN—46619
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 $127,000, with a year-over-year change of 3.5%. This indicates that home prices in South Bend, IN are increasing. According to Zillow, the 1-year price projection is 2.5%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $127,000 | 3.5% |
| Single Family | $127,000 | 4.1% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $92,000 | 3.4% |
3 Bed | $162,000 | 5.2% |
4 Bed | $141,000 | 3.7% |
| 5 Bed | $119,000 | -4.8% |
% of Housing Stock
Rental Trends — South Bend, IN
As of July '25, Rentcast reports the average rent in South Bend, IN is $1,160, with a year-over-year rent change of 5.5%. Per bedroom, the median rent as of July '25 in South Bend, IN is 1-bedrooms: $985, 2-bedrooms: $1,110, 3-bedrooms: $1,260, 4-bedrooms: $1,400. The most common rental property sizes in South Bend, IN are 2-bedroom and 3-bedroom, accounting for 44.9% and 26.2% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,150 | $1,160 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $850 | $985 |
| 2 Bed Rent | $1,100 | $1,110 |
| 3 Bed Rent | $1,250 | $1,260 |
| 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 46. This is a increase of 8.0% 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 30.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $170,000 | 21.0% |
Listing Count | 46 | 7.0% |
| Listings as % of Homes | 0.2% | 7.0% |
Days on Market | 46 | 8.0% |
Demographics — South Bend, IN
As of the latest ACS Survey released in 2023, South Bend, IN has a population of 21,200, which has decreased by -2.7% over the past 5 years. South Bend, IN is a popular place for families, as children make up 28.2% of the population. The area has a poorly educated workforce, with 13.8% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 3.1% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 21,200 | -2.7% |
% Under 18 | 28.2% | -5.4% |
% Seniors | 16.1% | 17.5% |
% WFH | 3.1% | 106.7% |
% w/ College Degree | 13.8% | 32.7% |
As of the latest ACS Survey released in 2023, South Bend, IN is a predominantly white area, with 39.7% of the population identifying as white. The white population has grown by 1.8% in the last 5 years. The second most common race or ethnicity in South Bend, IN is hispanic, making up 37.1% of the population. Foreign-born residents account for 13.4% of the population in South Bend, IN, and this percentage has decreased by 9.5% 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 | 39.7% | 1.8% |
% Black | 19.3% | -12.7% |
% Hispanic | 37.1% | 6.6% |
% Asian | 0.1% | -80.0% |
% Foreign Born | 13.4% | -9.5% |
Mortgage and Risk — South Bend, IN
According to HUD data as of 2023, there were 318 mortgage originations in South Bend, IN, of which 80.0% of loans were conventional mortgages. The average loan-to-value was 62.0%, with 28.0% above 90% LTV (very high). This implies large mortgage risk in South Bend, IN. Investor activity is low, as 2.0% of loans were by investors. 18.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 318 |
% Conventional Loans | 80.0% |
% Government Loans | 20.0% |
% Investor Loans | 2.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 18.0% |
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 26.2%. 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. 1-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 2-bedroom and 4-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 690 |
Total Units Section 8 | 572 |
% Rentals under Section 8 | 26.3% |
% Occupied Section 8 | 87.7% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $20 | $850 | $870 |
| 2 Bedroom | -$80 | $1,100 | $1,020 |
| 3 Bedroom | $10 | $1,250 | $1,260 |
| 4 Bedroom | -$50 | $1,400 | $1,350 |
Affordability — South Bend, IN
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 2.2 |
| Median Home Price | $127,000 |
| Median Household Income | $46,700 |