South Bend, IN
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Highest Appreciating South Bend Neighborhoods Since 2000




South Bend, IN Real Estate Data

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q1 2017. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2015 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

South Bend Housing Market Information

With a population of 101,516, 39,448 total housing units (homes and apartments), and a median house value of $79,724, house prices in South Bend are some of the most affordable in Indiana as well as the nation.

Single-family detached homes are the single most common housing type in South Bend, accounting for 72.11% of the city's housing units. Other types of housing that are prevalent in South Bend include large apartment complexes or high rise apartments ( 17.71%), duplexes, homes converted to apartments or other small apartment buildings ( 6.53%), and a few row houses and other attached homes ( 2.68%).

The most prevalent building size and type in South Bend are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 57.14% owning and 42.86% 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 43.23% of the city's housing hails from this era. Other housing ages represented in South Bend include homes built before 1939 ( 29.26%) and housing constructed between 1970-1999 ( 21.92%). There's also some housing in South Bend built between 2000 and later ( 5.59%).

Vacant housing appears to be an issue in South Bend. Fully 15.56% of the housing stock is classified as vacant. Left unchecked, vacant South Bend homes and apartments can be a drag on the real estate market, holding South Bend real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.

South Bend Home Appreciation Rates

Real estate appreciation rates in South Bend's have tracked to near the national average over the last then years, with the annual appreciation rate averaging -0.63% during the period.

Over the last year, South Bend appreciation rates have trailed the rest of the nation. In the last twelve months, South Bend's appreciation rate has been 1.09%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in South Bend were at 1.40%, which equates to an annual appreciation rate of 5.73%.

Relative to Indiana, our data show that South Bend's latest annual appreciation rate is lower than 80% 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 2000, to assist you in making the best South Bend real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$79,724

South Bend, IN HOME PRICES

Value Range
> $1,093,000 0.2
$820,001 - $1,093,000 0.1
$546,001 - $820,000 0.4
$437,001 - $546,000 0.8
$328,001 - $437,000 1.1
$219,001 - $328,000 3.5
$109,001 - $219,000 23.5
$55,001 - $109,000 44.2
$0 - $55,000 26.2

Very Low for IN
Very Low for Nation

Value Relative to Nation Value Relative to State
90.7183874370093 91.4027149321267

Number Of Homes And Apartments:
39,448

South Bend Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
IN*
Compared To
America*
Latest Quarter:
2016 Q4 - 2017 Q1
Last 12 Months:
2016 Q1 - 2017 Q1
Last 2 Years:
2015 Q1 - 2017 Q1
Last 5 Years:
2012 Q1 - 2017 Q1
Last 10 Years:
2007 Q1 - 2017 Q1
Since 2000:
2000 Q1 - 2017 Q1
11.13% 0.61% 3 1
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,010 / per month

Homeownership Rate

Homeownership
Owners 57.14
Renters 42.86
Vacant 15.56

Housing Market Details

 

Age of Homes

AGE OF South Bend HOMES
2000 or Newer 5.6
1970 - 1999 21.9
1940 - 1969 43.2
1939 or Older 29.3

Types of Homes

TYPE OF South Bend HOMES
Single-Family 72.1
Townhomes 2.7
Small Apt. Buildings 6.5
Apt. Complexes 17.7
Mobile Homes 1.0
Other 0.0

Home Size

SIZE OF South Bend HOMES
No Bedroom 1.27
1 Bedroom 11.46
2 Bedrooms 30.47
3 Bedrooms 41.40
4 Bedrooms 12.76
5 or more bedrooms 2.64