South Bend Indiana Residential Rent and Rental Statistics
The median monthly gross residential rent in South Bend, IN (the South Bend-Mishawaka metro area) was $854 in 2019 according to the Census ACS survey.1 Average gross rent in South Bend was $851 in 2019. The median rent more accurately depicts rental rates in the middle of the distribution of rents and is thus preferred in the analysis below. 2020 South Bend median and average rent data will be released in September of 2021.
Data is also available below for South Bend rental vacancy rates, South Bend rent as a percent of median income and the fraction of renters in South Bend.
Real Gross Rent in South Bend Indiana (2019 dollars)2
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US Median Gross Rent | $1,097 | +1.86% | +6.82% |
| Indiana Median Gross Rent | $840 | +0.60% | +4.48% |
| South Bend, IN Median Gross Rent | $854 | +6.22% | +13.87% |
South Bend, IN Real Gross Rent Trends
At $854, real median gross rent in South Bend was at its highest level in 2019 since the series began in 2005. At $851, real average gross rent in South Bend was at its highest level in 2019 since the series began in 2005.
Real Gross Rent in South Bend: South Bend IN Median, South Bend IN Average, Indiana Median, US Median
Real Gross Rent History for South Bend
| Date | US Median |
Indiana Median |
South Bend, IN Median |
South Bend, IN Average |
|---|---|---|---|---|
| 2019 | $1,097 | $840 | $854 | $851 |
| 2018 | $1,077 | $835 | $804 | $778 |
| 2017 | $1,043 | $818 | $794 | $737 |
| 2016 | $1,027 | $804 | $750 | $702 |
| 2015 | $1,017 | $804 | $752 | $715 |
| 2014 | $986 | $795 | $753 | $727 |
| 2013 | $953 | $769 | $723 | $686 |
| 2012 | $940 | $761 | $743 | $701 |
| 2011 | $941 | $764 | $756 | $757 |
| 2010 | $955 | $763 | $749 | $724 |
| 2009 | $960 | $783 | $768 | $743 |
| 2007 | $927 | $750 | $751 | $723 |
| 2005 | $910 | $769 | $813 | $774 |
South Bend Rental Vacancy Rate
The rental vacancy rate is the fraction of homes for rent that are not occupied.3 In 2019 the rental vacancy rate for South Bend Indiana was 11.45% according to Census ACS data.
Rental Vacancy Rate in South Bend Indiana
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 5.97% | -0.18% | +0.08% |
| Indiana | 6.89% | +0.30% | -0.07% |
| South Bend, IN | 11.45% | +5.19% | -0.08% |
Trends in South Bend, IN Rental Vacancy Rate
The rental vacancy rate in South Bend peaked in 2009 at 15.79%. Since then it has fallen by 4.34% to 11.45%. Data records for this series originated in 2005. From a 2018 post peak low of 6.26%, the rental vacancy rate has increased by 5.19%.
Rental Vacancy Rate: South Bend IN, Indiana, US
Historical Rental Vacancy Rate data for South Bend
| Date | US | Indiana | South Bend, IN |
|---|---|---|---|
| 2019 | 5.97% | 6.89% | 11.45% |
| 2018 | 6.15% | 6.59% | 6.26% |
| 2017 | 6.18% | 7.14% | 12.16% |
| 2016 | 5.89% | 6.96% | 11.53% |
| 2015 | 5.85% | 7.94% | 14.11% |
| 2014 | 6.32% | 8.09% | 11.37% |
| 2013 | 6.49% | 7.00% | 10.17% |
| 2012 | 6.77% | 8.43% | 9.11% |
| 2011 | 7.40% | 8.47% | 11.50% |
| 2010 | 8.17% | 8.78% | 10.02% |
| 2009 | 8.43% | 10.44% | 15.79% |
| 2007 | 7.87% | 9.72% | 11.47% |
| 2005 | 7.74% | 10.67% | 10.95% |
Rent as a Fraction of Income
Using median household income data for South Bend, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. For South Bend, median monthly gross rent as a fraction of median household income was 19.17% in 2019 according to the ACS.
South Bend Indiana Median Annual Rent as a Fraction of Median Household Income
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 20.03% | -0.47% | -0.40% |
| Indiana | 17.50% | -0.15% | -0.12% |
| South Bend, IN | 19.17% | +1.84% | +1.67% |
Trends in South Bend, IN Rent as a Fraction of Income
The fraction of median South Bend household income required to pay median monthly gross rent peaked in 2013 (relative to the 2005 series origin) at 20.21%. Since then it has fallen by 1.05% to 19.17%. From a 2018 low of 17.33%, the fraction of income going to rent has increased by 1.84%.
Fraction of Income towards Rent: South Bend IN, Indiana, US
Historical Data for Annual Rent as a Fraction of Income in South Bend Indiana
| Date | US | Indiana | South Bend, IN |
|---|---|---|---|
| 2019 | 20.03% | 17.50% | 19.17% |
| 2018 | 20.50% | 17.65% | 17.33% |
| 2017 | 20.13% | 17.56% | 17.81% |
| 2016 | 20.43% | 17.62% | 17.49% |
| 2015 | 20.63% | 18.00% | 18.02% |
| 2014 | 20.89% | 18.27% | 18.36% |
| 2013 | 20.78% | 18.43% | 20.21% |
| 2012 | 20.65% | 18.27% | 18.71% |
| 2011 | 20.70% | 18.27% | 19.14% |
| 2010 | 20.50% | 18.37% | 19.15% |
| 2009 | 20.12% | 18.15% | 18.55% |
| 2007 | 18.66% | 16.14% | 17.61% |
| 2005 | 18.89% | 16.78% | 18.89% |
Renter Fraction in South Bend Indiana
You can calculate the renter fraction in South Bend in at least two ways: by housing units or by population. I've gone with the housing units measure here. This measure looks at the number of renting households in South Bend as a fraction of total South Bend households. In 2019 29.32% of households were renters according to Census ACS data.
South Bend Fraction of Renters by Household Units
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 35.89% | -0.16% | -0.99% |
| Indiana | 30.69% | -0.37% | -0.96% |
| South Bend, IN | 29.32% | -0.82% | -2.14% |
Trends in the South Bend, IN Renter Fraction
The South Bend household renter fraction peaked in in 2016 at 31.46% and is now 2.14% below that level. The origin year for the series is 2005.
Fraction of Renting Households: South Bend IN, Indiana, US
History of South Bend Renter Fraction
| Date | US | Indiana | South Bend, IN |
|---|---|---|---|
| 2019 | 35.89% | 30.69% | 29.32% |
| 2018 | 36.05% | 31.06% | 30.14% |
| 2017 | 36.13% | 30.96% | 29.62% |
| 2016 | 36.88% | 31.65% | 31.46% |
| 2015 | 36.97% | 31.82% | 28.98% |
| 2014 | 36.90% | 31.42% | 30.82% |
| 2013 | 36.50% | 31.48% | 31.12% |
| 2012 | 36.09% | 30.62% | 28.08% |
| 2011 | 35.42% | 30.28% | 28.48% |
| 2010 | 34.65% | 29.71% | 28.98% |
| 2009 | 34.13% | 29.57% | 26.02% |
| 2007 | 32.80% | 28.37% | 27.15% |
| 2005 | 33.10% | 28.00% | 27.44% |
1. Gross rent is defined as contract rent plus the estimated average monthly cost of utilities (electricity, gas, water, and sewer) and fuel (oil, coal, kerosene, wood, etc.). Because some rentals include utilities and others don't, gross rent is a way of normalizing the variability. ↩
2. Real dollars are calculated using the CPI-U less shelter series. ↩
3. The rental vacancy rate is computed by dividing the number of vacant units for rent by the sum of the renter-occupied units, vacant units that are for rent, and vacant units that have been rented but not yet occupied. ↩
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