South Bend, IN—46614
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — South Bend, IN
As of Nov '25, the median home price in South Bend, IN is $228,000, with a year-over-year change of 4.1%. This indicates that home prices in South Bend, IN are increasing. According to Zillow, the 1-year price projection is 3.5%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $228,000 | 4.1% |
| Single Family | $228,000 | 4.1% |
| Condos | $239,000 | 8.6% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $94,000 | 1.1% |
2 Bed | $158,000 | 4.6% |
3 Bed | $221,000 | 3.8% |
4 Bed | $314,000 | 4.3% |
| 5 Bed | $425,581 | 4.8% |
% of Housing Stock
Rental Trends — South Bend, IN
As of July '25, Rentcast reports the average rent in South Bend, IN is $1,220, with a year-over-year rent change of -2.4%. Per bedroom, the median rent as of July '25 in South Bend, IN is 1-bedrooms: $875, 2-bedrooms: $1,040, 3-bedrooms: $2,250. The most common rental property sizes in South Bend, IN are 2-bedroom and 3-bedroom, accounting for 36.2% and 27.2% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,020 | $1,220 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $875 | $875 |
| 2 Bed Rent | $1,020 | $1,040 |
| 3 Bed Rent | $2,250 | $2,250 |
| 4 Bed Rent | N/A | N/A |
% of Rental Stock
Property Listings — South Bend, IN
As of Nov '25, Realtor.com reports that the median days on market for a home in South Bend, IN is 41. This is a increase of 7.0% 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 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 | $262,000 | 11.0% |
Listing Count | 109 | 10.0% |
| Listings as % of Homes | 0.3% | 10.0% |
Days on Market | 41 | 7.0% |
Demographics — South Bend, IN
As of the latest ACS Survey released in 2023, South Bend, IN has a population of 29,300, which has decreased by -4.3% over the past 5 years. South Bend, IN is a moderately popular place for families, as children make up 21.6% of the population. The area has a moderately educated workforce, with 34.4% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 11.6% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 29,300 | -4.3% |
% Under 18 | 21.6% | -5.3% |
% Seniors | 22.1% | 13.9% |
% WFH | 11.6% | 157.8% |
% w/ College Degree | 34.4% | 23.7% |
As of the latest ACS Survey released in 2023, South Bend, IN is a predominantly white area, with 70.8% of the population identifying as white. The white population has shrunk by 11.3% in the last 5 years. The second most common race or ethnicity in South Bend, IN is black, making up 12.9% of the population. Foreign-born residents account for 5.4% of the population in South Bend, IN, and this percentage has increased by 45.9% 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 | 70.8% | -11.3% |
% Black | 12.9% | 26.5% |
% Hispanic | 9.1% | 31.9% |
% Asian | 1.7% | 466.7% |
% Foreign Born | 5.4% | 45.9% |
Mortgage and Risk — South Bend, IN
According to HUD data as of 2023, there were 751 mortgage originations in South Bend, IN, of which 86.0% of loans were conventional mortgages. The average loan-to-value was 57.0%, with 25.0% 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. 17.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 751 |
% Conventional Loans | 86.0% |
% Government Loans | 14.0% |
% Investor Loans | 0.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 17.0% |
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 | 536 |
Total Units Section 8 | 523 |
% Rentals under Section 8 | 19.0% |
% Occupied Section 8 | 87.3% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$45 | $875 | $830 |
| 2 Bedroom | -$50 | $1,020 | $970 |
| 3 Bedroom | -$1,050 | $2,250 | $1,200 |
| 4 Bedroom | N/A | N/A | $1,290 |
Affordability — South Bend, IN
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 2.8 |
| Median Home Price | $228,000 |
| Median Household Income | $71,000 |