South Bend, IN—46635
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 $251,000, with a year-over-year change of 4.0%. 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 | $251,000 | 4.0% |
| Single Family | $248,000 | 4.2% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $188,000 | 8.0% |
3 Bed | $238,000 | 4.4% |
4 Bed | $277,000 | 4.5% |
| 5 Bed | $335,000 | 4.4% |
% of Housing Stock
Rental Trends — South Bend, IN
As of July '25, Rentcast reports the average rent in South Bend, IN is $1,910, with a year-over-year rent change of 44.7%. Per bedroom, the median rent as of July '25 in South Bend, IN is 1-bedrooms: $1,400, 2-bedrooms: $1,600, 3-bedrooms: $2,050. The most common rental property sizes in South Bend, IN are 3-bedroom and 1-bedroom, accounting for 33.3% and 30.1% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,800 | $1,910 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $1,400 | $1,400 |
| 2 Bed Rent | $1,600 | $1,600 |
| 3 Bed Rent | $1,880 | $2,050 |
| 4 Bed Rent | N/A | N/A |
% 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 36. This is a increase of 21.0% 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 21.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $266,000 | -12.0% |
Listing Count | 19 | -47.0% |
| Listings as % of Homes | 0.3% | -47.0% |
Days on Market | 36 | 21.0% |
Demographics — South Bend, IN
As of the latest ACS Survey released in 2023, South Bend, IN has a population of 6,550, which has decreased by -5.1% over the past 5 years. South Bend, IN is a moderately popular place for families, as children make up 20.7% of the population. The area has a moderately educated workforce, with 38.7% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 7.0% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 6,550 | -5.1% |
% Under 18 | 20.7% | -5.5% |
% Seniors | 23.2% | -4.9% |
% WFH | 7.0% | 133.3% |
% w/ College Degree | 38.7% | 0.5% |
As of the latest ACS Survey released in 2023, South Bend, IN is a predominantly white area, with 84.0% of the population identifying as white. The white population has grown by 6.6% in the last 5 years. The second most common race or ethnicity in South Bend, IN is black, making up 5.1% of the population. Foreign-born residents account for 3.9% of the population in South Bend, IN, and this percentage has increased by 2.6% 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 | 84.0% | 6.6% |
% Black | 5.1% | -59.2% |
% Hispanic | 1.4% | -71.4% |
% Asian | 2.7% | -12.9% |
% Foreign Born | 3.9% | 2.6% |
Mortgage and Risk — South Bend, IN
According to HUD data as of 2023, there were 203 mortgage originations in South Bend, IN, of which 88.0% of loans were conventional mortgages. The average loan-to-value was 58.0%, with 26.0% 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. 15.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 203 |
% Conventional Loans | 88.0% |
% Government Loans | 12.0% |
% Investor Loans | 2.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 15.0% |
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 | 191 |
Total Units Section 8 | 140 |
% Rentals under Section 8 | 21.7% |
% Occupied Section 8 | 78.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$550 | $1,400 | $850 |
| 2 Bedroom | -$600 | $1,600 | $1,000 |
| 3 Bedroom | -$650 | $1,880 | $1,230 |
| 4 Bedroom | N/A | N/A | $1,330 |
Affordability — South Bend, IN
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 2.7 |
| Median Home Price | $251,000 |
| Median Household Income | $79,400 |