About the South Bend Housing Market
South Bend, Indiana has seen a steady population growth in recent years. According to the U.S. Census Bureau, the city’s population grew by 2.26% between 2010 and 2020, from 101,168 to 103,453. This was the largest population increase since the 1960 Census.
South Bend is also a relatively affordable city to live in. The cost of housing is lower than in many other major cities, and the cost of living is also relatively low. This makes South Bend an attractive option for people who are looking for a more affordable place to live.
Additionally, there have been investments in infrastructure, downtown redevelopment, and the promotion of tourism to attract visitors to the city. The development of the Studebaker National Museum and the renovation of the Morris Performing Arts Center are examples of projects aimed at enhancing cultural and entertainment offerings.
Overall, South Bend is a city that is on the rise. The city has a strong economy, a growing population, and a number of cultural attractions. South Bend is a great place to live, work, and raise a family.
Median Household Income: $46,002
Metro Population: 324,501
11-Year Population Growth: 2.26%
Median Home Price: $169,565
Median Rent Per Month: $757
1-Year Equity Growth: 19.1%
Tenant Laws: Landlord-Friendly
8-Year Equity Growth (January 2014 – December 2022): 32.6%
1-Year Rent Growth: 0.5%
8-Year Rent Growth (January 2014 – December 2022): 22.3%
Job Growth: +2,938 CES jobs created over the last year
1-Year Job Growth Rate: 2.2%
Unemployment Rate: 4%
What to Like
Low property taxes
Low state income and capital gains tax
“Turnaround city”
What to Watch Out For
Very small market
Harsh winters, with 70” of snowfall annually
– There are a number of factors that have contributed to South Bend’s growth. The city has a strong economy, with a low unemployment rate and a growing number of jobs. South Bend is also home to a number of educational institutions, including the University of Notre Dame, which attracts students from all over the world. The city also has a number of cultural attractions, including the South Bend Symphony Orchestra and the History Museum of Saint Joseph County.
– Over the years, South Bend has experienced both periods of growth and economic challenges. Like many Rust Belt cities in the United States, South Bend faced a decline in its manufacturing sector, resulting in job losses and population decline in the latter half of the 20th century.
– Another factor that has contributed to South Bend’s population growth is the city’s affordable cost of living. South Bend is a relatively affordable city, with a cost of living that is below the national average. This makes South Bend an attractive option for people who are looking for a more affordable place to live.
– Overall, South Bend is a city that is on the rise. The city has a strong economy, an affordable cost of living, and a number of amenities that are attractive to potential residents. As a result, South Bend is expected to continue to grow in the years to come.
Growing population
The city of South Bend, Indiana, has seen a significant population growth in recent years. According to the U.S. Census Bureau, the city’s population grew by 2.26% from 2010 to 2020, from 101,168 to 103,453. This is the largest population increase in the city since the 1960s.
Strong job market
There are a number of factors that have contributed to South Bend’s population growth. One factor is the city’s strong economy. South Bend is home to a number of major employers, including the University of Notre Dame, the Beacon Health System, and the Northern Indiana Regional Airport. These employers provide a strong economic base for the city and attract new residents from all over the country.
Fast revitalization
However, in recent years, there have been efforts to revitalize the city and promote economic growth. The city has focused on diversifying its economy by attracting new industries and promoting entrepreneurship. The University of Notre Dame has played a role in this revitalization by fostering innovation and supporting startups.
Purchasing Property in South Bend, Indiana
South Bend is a relatively affordable city, with housing costs that are below the national average. The median home price in South Bend is $160,000, and the median rent is $800 per month.
South Bend has a number of good public schools, including Riley High School, which is consistently ranked among the top high schools in the state. There are also a number of private schools in the area. South Bend also has a relatively low crime rate, and many neighborhoods are considered to be safe. The city also has a number of programs in place to reduce crime and make neighborhoods safer.
South Bend offers a variety of housing options, from single-family homes to apartments to condos. There are also a number of affordable housing options available, including public housing and Section 8 housing.
South Bend, Indiana
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