Department of Numbers

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 $716 in 2016 according to the Census ACS survey.1 Average gross rent in South Bend was $670 in 2016. The median rent more accurately depicts rental rates in the middle of the distribution of rents and is thus preferred in the analysis below. 2017 South Bend median and average rent data will be released in September of 2018.

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.

Show dollars as: Nominal Real

Real Gross Rent in South Bend Indiana (2016 dollars)2

2016 1 Year Change 3 Year Change
US Median Gross Rent $981 +0.93% +7.80%
Indiana Median Gross Rent $768 0.00% +4.63%
South Bend, IN Median Gross Rent $716 -0.28% +3.62%

South Bend, IN Real Gross Rent Trends

Median gross rent for South Bend peaked in real terms in 2006 at $779 and is now $63 (8.09%) lower. From a recent low of 691.0 in 2013, real median gross rent has now increased by $25 (3.62%). Average gross rent for South Bend peaked in real terms in 2006 at $769 and is now $99 (12.87%) lower. From a recent low of 655.0 in 2013, real average gross rent has now increased by $15 (2.29%).

Real Gross Rent in South Bend: South Bend IN Median, South Bend IN Average, Indiana Median, US Median

Lower quartile, median and upper quartile real gross rent

Real Gross Rent History for South Bend

Date US
Median
Indiana
Median
South Bend, IN
Median
South Bend, IN
Average
2016 $981 $768 $716 $670
2015 $972 $768 $718 $683
2014 $942 $759 $719 $695
2013 $910 $734 $691 $655
2012 $898 $726 $709 $670
2011 $898 $729 $722 $723
2010 $912 $729 $715 $692
2009 $916 $748 $734 $710
2008 $932 $758 $767 $745
2007 $885 $716 $717 $690
2006 $895 $748 $779 $769
2005 $869 $734 $776 $739

South Bend Rental Vacancy Rate

The rental vacancy rate is the fraction of homes for rent that are not occupied.3 In 2016 the rental vacancy rate for South Bend Indiana was 11.53% according to Census ACS data.

Rental Vacancy Rate in South Bend Indiana

2016 1 Year Change 3 Year Change
US 5.89% +0.04% -0.60%
Indiana 6.96% -0.98% -0.04%
South Bend, IN 11.53% -2.58% +1.36%

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 4.26% to 11.53%. Data records for this series originated in 2005. From a 2012 post peak low of 9.11%, the rental vacancy rate has increased by 2.42%.

Rental Vacancy Rate: South Bend IN, Indiana, US

Rental vacancy rate in Indiana

Historical Rental Vacancy Rate data for South Bend

Date US Indiana South Bend, IN
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%
2008 7.86% 9.02% 11.80%
2007 7.87% 9.72% 11.47%
2006 7.70% 11.17% 11.78%
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 17.49% in 2016 according to the ACS.

South Bend Indiana Median Annual Rent as a Fraction of Median Household Income

2016 1 Year Change 3 Year Change
US 20.43% -0.20% -0.35%
Indiana 17.62% -0.38% -0.81%
South Bend, IN 17.49% -0.53% -2.72%

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 2.72% to 17.49%.

Fraction of Income towards Rent: South Bend IN, Indiana, US

Percent of median household income going towards median monthly gross rent in South Bend Indiana

Historical Data for Annual Rent as a Fraction of Income in South Bend Indiana

Date US Indiana South Bend, IN
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%
2008 19.00% 16.76% 18.62%
2007 18.66% 16.14% 17.61%
2006 18.90% 16.87% 18.20%
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 2016 31.46% of households were renters according to Census ACS data.

South Bend Fraction of Renters by Household Units

2016 1 Year Change 3 Year Change
US 36.88% -0.09% +0.38%
Indiana 31.65% -0.17% +0.17%
South Bend, IN 31.46% +2.48% +0.34%

Trends in the South Bend, IN Renter Fraction

At 31.46%, the 2016 household based renter fraction in South Bend was at its highest level. The origin year for the series is 2005.

Fraction of Renting Households: South Bend IN, Indiana, US

Fraction of renters in South Bend

History of South Bend Renter Fraction

Date US Indiana South Bend, IN
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%
2008 33.36% 28.17% 26.94%
2007 32.80% 28.37% 27.15%
2006 32.73% 27.88% 25.72%
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.