Commercial Real Estate Market in South Bend, IN
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
283 active listings and 4,988 off-market properties in South Bend, IN. Commercial property asks $20/SF to buy and $15.86/SF/Yr to lease.
Market Trends
South Bend, IN spans 136.6 square miles in St. Joseph County, Indiana. Figures below refresh monthly; last updated 31 August 2026.
Office
Office vacancy in South Bend, IN runs 21.3% across the Midwest region in 2025, up from 13.7% in 2019.
Vacancy Rate % in Midwest region
Retail
Retail vacancy in South Bend, IN runs 6.3% across the Midwest region in 2025, down from 8% in 2020.
Vacancy Rate % in Midwest region
Industrial
Industrial vacancy in South Bend, IN runs 4.9% across the Midwest region in 2025, up from 4.4% in 2019. Nearly 1.6x the 2022 low of 3.1%.
Vacancy Rate % in Midwest region
Multifamily
Multifamily space in South Bend, IN asks $177/SF to buy. Vacancy runs 8% across the Midwest region in 2025, up from 6.5% in 2022.
Average Sale Price $/SF
Listings
Vacancy Rate % in Midwest region
Market overview
Demographics & Economy
South Bend, IN has 147,931 residents in 68,597 households. Density runs 1,083 people per square mile. Median household income here is $59,792 and median gross rent $1,014 a month.
147,931
Population
68,597
Households
2.2
Avg Household Size
37
Median Age
30%
College-Educated
89%
High-School Grad
136.6 sq mi
ZIP Area
1,083
Density / Sq Mi
$59,792
Median Household Income
$37,297
Median Earnings
$1,014
Median Rent
$152,678
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Notre Dame | — | — |
| Roseland | — | — |
| Mishawaka | — | $41.63 |
| Lydick | — | — |
Commercial property in South Bend, IN asks $20/SF.
Frequently Asked Questions
What is the average price per square foot for commercial property in South Bend?
Commercial property in South Bend, IN asks an average of $20 per square foot. Multifamily carries the highest asking price at $177/SF.
How much does it cost to lease commercial space in South Bend?
Asking lease rates in South Bend, IN average $15.86 per square foot per year.
Where does Realmo's South Bend market data come from?
Realmo compiles South Bend, IN figures from 235 active sale listings, 48 active lease listings, 4,988 tracked off-market properties. Sale and lease figures refresh monthly; vacancy annually. Last updated 31 August 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 235 active for-sale and 48 active for-lease listings in South Bend, IN. These are ASKING figures from live listings, not closed-transaction prices, and a segment carried by a handful of listings reads as indicative rather than an average.
- Vacancy rates
- Published per-sector market series, taken at the metro level where one exists and otherwise at the Census-region level — a chart reading "in <region> region" is a regional number, not this city's.
- Refresh
- The monthly aggregates close at the end of the previous month, so 31 August 2026 — not today — is the honest last update.
- Known limitations
- office vacancy is reported at Midwest region level, retail vacancy is reported at Midwest region level and industrial vacancy is reported at Midwest region level.
- Coverage
- Metrics below the 10-observation threshold fall back one geographic level. The geography used is named on each figure.
Compiled by the Realmo Data team · reviewed 31 August 2026 · report a data issue
