South Bend, IN—46637
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 $240,000, with a year-over-year change of 4.2%. This indicates that home prices in South Bend, IN are increasing. According to Zillow, the 1-year price projection is 2.6%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $240,000 | 4.2% |
| Single Family | $233,000 | 3.6% |
| Condos | $281,000 | 10.6% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $131,000 | 5.6% |
2 Bed | $171,000 | 5.6% |
3 Bed | $240,000 | 4.3% |
4 Bed | $301,000 | 3.1% |
| 5 Bed | $468,000 | 3.8% |
% of Housing Stock
Rental Trends — South Bend, IN
As of July '25, Rentcast reports the average rent in South Bend, IN is $1,570, with a year-over-year rent change of -22.3%. Per bedroom, the median rent as of July '25 in South Bend, IN is 1-bedrooms: $1,140, 2-bedrooms: $1,290, 3-bedrooms: $1,740, 4-bedrooms: $2,580. The most common rental property sizes in South Bend, IN are 2-bedroom and 1-bedroom, accounting for 41.1% and 28.3% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,400 | $1,570 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $990 | $1,140 |
| 2 Bed Rent | $1,400 | $1,290 |
| 3 Bed Rent | $1,680 | $1,740 |
| 4 Bed Rent | $2,200 | $2,580 |
% 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 39. This is a decrease of 0.0% 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 24.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $297,000 | 22.0% |
Listing Count | 66 | -8.0% |
| Listings as % of Homes | 0.3% | -8.0% |
Days on Market | 39 | 0.0% |
Demographics — South Bend, IN
As of the latest ACS Survey released in 2023, South Bend, IN has a population of 16,100, which has increased by 5.4% over the past 5 years. South Bend, IN is a moderately popular place for families, as children make up 17.9% of the population. The area has a moderately educated workforce, with 37.6% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 9.5% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 16,100 | 5.4% |
% Under 18 | 17.9% | 7.8% |
% Seniors | 18.9% | 5.0% |
% WFH | 9.5% | 86.3% |
% w/ College Degree | 37.6% | 7.1% |
As of the latest ACS Survey released in 2023, South Bend, IN is a predominantly white area, with 71.5% of the population identifying as white. The white population has shrunk by 10.5% in the last 5 years. The second most common race or ethnicity in South Bend, IN is black, making up 16.6% of the population. Foreign-born residents account for 9.3% of the population in South Bend, IN, and this percentage has increased by 38.8% 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 | 71.5% | -10.5% |
% Black | 16.6% | 61.2% |
% Hispanic | 3.5% | -28.6% |
% Asian | 4.1% | 57.7% |
% Foreign Born | 9.3% | 38.8% |
Mortgage and Risk — South Bend, IN
According to HUD data as of 2023, there were 320 mortgage originations in South Bend, IN, of which 83.0% of loans were conventional mortgages. The average loan-to-value was 60.0%, with 31.0% above 90% LTV (very high). This implies large mortgage risk in South Bend, IN. Investor activity is low, as 0.0% 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 | 320 |
% Conventional Loans | 83.0% |
% Government Loans | 17.0% |
% Investor Loans | 0.0% |
% Second Loans | 2.0% |
% 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 7.4%. 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 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 3-bedroom and 4-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 168 |
Total Units Section 8 | 168 |
% Rentals under Section 8 | 7.4% |
% Occupied Section 8 | 89.5% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $50 | $990 | $1,040 |
| 2 Bedroom | -$180 | $1,400 | $1,220 |
| 3 Bedroom | -$180 | $1,680 | $1,500 |
| 4 Bedroom | -$580 | $2,200 | $1,620 |
Affordability — South Bend, IN
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 2.9 |
| Median Home Price | $240,000 |
| Median Household Income | $72,400 |