The housing market in South Bend, IN is thriving with the median value currently at $161,900. This is significantly lower than the national median of $338,100, which means that those looking for a home may be able to purchase something in South Bend they may not be able to afford elsewhere. The US house appreciation rate last year was 8.27%, but South Bend had an even higher appreciation rate at 10.77%. This makes South Bend an attractive place to invest in property as it looks likely that housing values will continue to appreciate at a greater rate than the national average.
The median home cost in South Bend is $161,900. Home appreciation the last 10 years has been 87.3%. Home Appreciation in South Bend is up 16.2%.
Average Age of Homes
- The median age of South Bend real estate is 62 years old
The Rental Market in South Bend
- Renters make up 34.9% of the South Bend population
- 3.5% of houses and apartments in South Bend, are available to rent
DID YOU KNOW
Buying a home is the biggest single purchase most people make during their lives. The second largest is most often an automobile.