South Bend appreciation rates and housing market information

South Bend housing market information

With 107,045 people, 46,230 houses or apartments, and a median cost of homes of $101,271, house prices in South Bend are solidly below the national average.

single-family detached homes are the single most common housing type in South Bend, accounting for 72.69% of the city's housing units. Other types of housing that are prevalent in South Bend include large apartment complexes or high rise apartments (14.65%), duplexes, homes converted to apartments, or other small apartment buildings (8.66%), row houses and other attached homes (3.23%), and a few mobile homes or trailers (0.76%).

The most prevalent building size and type in South Bend are three and four bedroom single-family detached homes. The city has a mixture of owners and renters, with 58.38% owning, and 34.20% renting.

At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. South Bend's housing was primarily built during this period, from the '40s through the '60s. A full 50.08% of the city's housing hails from this era. Other housing ages represented in South Bend include homes built between 1939 and earlier (28.67%), and housing constructed from 1970-1994 (18.44%). There's also some housing in South Bend built between 1995 and later (2.81%).

South Bend home appreciation rates

South Bend's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in South Bend during the period has been just 5.74%, which is lower than % of US communities.

NeighborhoodScout's data show that during the latest twelve months, South Bend home appreciation rates, at 2.14%, have been at or slightly above the national average. In the latest quarter, South Bend's appreciation rate has been 1.30%, which annualizes to a rate of 5.20%.

Relative to Indiana, our data show that South Bend's latest annual appreciation rate is higher than 41% of the other cities and towns in Indiana.

One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within South Bend differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in South Bend - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 1990, to assist you in making the best South Bend real estate investment or home purchase decisions.