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South Bend, IN—46615

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value
$186,000
6.0% YoY Growth
Household Income
$58,000
41.2% YoY Growth
Days on Market
29
43.0% Shorter YoY
Home Price Forecast
3.4%
Median Rent
$1,100
5.6% YoY Growth
1-Bed Rent
$899
23.3% YoY Growth
2-Bed Rent
$1,100
0.0% YoY Growth
3-Bed Rent
$1,500
6.0% YoY Growth

Other Zip Codes in South Bend, IN

466174660146613466284663746619466164661446635
  • Home Price Trends
  • Rental Trends
  • Property Listings
  • Demographics
  • Mortgage and Risk

Home Price Trends — South Bend, IN

As of May '26, the median home price in South Bend, IN is $186,000, with a year-over-year change of 6.0%. This indicates that home prices in South Bend, IN are increasing. According to Zillow, the 1-year price projection is 3.4%, suggesting an increase housing market in the next year.

Cost per Home Type

Home TypeMedian Home ValueYoY % Change
All Homes
$186,0006.0%
Single Family $185,0006.3%
Condos N/AN/A

Cost per Home Size

Home SizeMedian Home ValueYoY % Change
1 Bed

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  • Affordability
  • Rentals and Section 8
    • N/A
    N/A
    2 Bed
    		$147,0005.0%
    3 Bed
    		$200,0005.8%
    4 Bed
    		$223,0006.2%
    5 Bed N/AN/A
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    % of Housing Stock

    Studio
    0.8%
    1 Bedroom
    13.9%
    2 Bedrooms
    33.5%
    3 Bedrooms
    43.2%
    4 Bedrooms
    6.9%
    5+ Bedrooms
    1.7%

    Rental Trends — South Bend, IN

    As of July '25, Rentcast reports the average rent in South Bend, IN is $1,170, with a year-over-year rent change of -5.6%. Per bedroom, the median rent as of July '25 in South Bend, IN is studios: $550, 1-bedrooms: $942, 2-bedrooms: $1,090, 3-bedrooms: $1,400, 4-bedrooms: $1,650. The most common rental property sizes in South Bend, IN are 2-bedroom and 3-bedroom, accounting for 41.8% and 32.4% of the rental stock.

    TypeMedian RentAverage Rent
    Average Rent$1,100$1,170
    Studio Rent $550$550
    1 Bed Rent $899$942
    2 Bed Rent $1,100$1,090
    3 Bed Rent $1,500$1,400
    4 Bed Rent $1,500$1,650
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    % of Rental Stock

    1 Bedroom
    24.5%
    2 Bedrooms
    41.8%
    3 Bedrooms
    32.4%
    4 Bedrooms
    1.3%

    Property Listings — South Bend, IN

    As of May '26, Realtor.com reports that the median days on market for a home in South Bend, IN is 29. This is a decrease of -43.0% 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 9.0%, representing a small inventory and little supply pressure on home prices.

    MetricZip Code AverageYear over Year % Change
    Median Listing Price
    		$188,0003.0%
    Listing Count
    		47-29.0%
    Listings as % of Homes0.2%-29.0%
    Days on Market
    		29-43.0%
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    Demographics — South Bend, IN

    As of the latest ACS Survey released in 2023, South Bend, IN has a population of 14,400, which has increased by 11.5% over the past 5 years. South Bend, IN is a moderately popular place for families, as children make up 24.3% of the population. The area has a moderately educated workforce, with 32.8% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 10.6% reporting working from home.

    MetricLatest CensusYoY % Change
    Population
    		14,40011.5%
    % Under 18
    		24.3%-1.2%
    % Seniors
    		13.6%24.8%
    % WFH
    		10.6%241.9%
    % w/ College Degree
    		32.8%3.8%
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    As of the latest ACS Survey released in 2023, South Bend, IN is a predominantly white area, with 65.4% of the population identifying as white. The white population has shrunk by 5.2% in the last 5 years. The second most common race or ethnicity in South Bend, IN is black, making up 14.4% of the population. Foreign-born residents account for 8.3% of the population in South Bend, IN, and this percentage has decreased by 11.7% as of the ACS Survey 5 years prior, suggesting fewer immigrants are calling the area home.

    Race and Ethnicity

    MetricLatest Census5-Year % Change
    % White
    		65.4%-5.2%
    % Black
    		14.4%-4.6%
    % Hispanic
    		10.2%52.2%
    % Asian
    		2.8%-31.7%
    % Foreign Born
    		8.3%-11.7%
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    Mortgage and Risk — South Bend, IN

    According to HUD data as of 2023, there were 367 mortgage originations in South Bend, IN, of which 83.0% of loans were conventional mortgages. The average loan-to-value was 64.0%, with 33.0% above 90% LTV (very high). This implies large mortgage risk in South Bend, IN. Investor activity is low, as 3.0% of loans were by investors. 16.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.

    Mortgages

    MetricZip Code Average
    Total Loan Originations
    		367
    % Conventional Loans
    		83.0%
    % Government Loans
    		17.0%
    % Investor Loans
    		3.0%
    % Second Loans
    		2.0%
    % Cash Out Refinance
    		16.0%
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    Rentals and Section 8 — South Bend, IN

    As of 2024, the percent of homes in South Bend, IN under the Section 8 program is 20.3%. 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. In South Bend, IN, none of the tracked home sizes currently have HUD payment amounts above market rent, suggesting limited Section 8 opportunity.

    Section 8 Market Size

    Total Units under HUD
    		606
    Total Units Section 8
    		515
    % Rentals under Section 8
    		20.3%
    % Occupied Section 8
    		89.6%

    Section 8 Opportunity

    Home SizeHUD PremiumMarket RentMax HUD Rent
    1 Bedroom-$19$899$880
    2 Bedroom-$70$1,100$1,030
    3 Bedroom-$230$1,500$1,270
    4 Bedroom-$130$1,500$1,370

    Affordability — South Bend, IN

    Home Price to Income Ratio

    MetricZip Code Average
    Home Price to Income Ratio2.6
    Median Home Price$186,000
    Median Household Income$58,000

    South Bend, IN — ZIP Code Boundary Map

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    Frequently Asked Questions