South Bend, Indiana Short-Term Rental Market
South Bend, IN STRs averaged $234/night at 51.2% occupancy in June 2026; Notre Dame weekends spike fall ADR.
Quick Answer: South Bend, Indiana is an active short-term rental market. average occupancy in the South Bend market area is 51%. average monthly revenue in the South Bend market area is $3,290. average daily rate in the South Bend market area is $234. the top operator in the South Bend market area is Irish Management with 56 listings. market score is 90/100 (grade A).
Market data reflects the wider South Bend market, which covers 2 areas. Regulations, taxes, and permit details below are specific to South Bend.
Market Score Breakdown
Five dimensions StaySTRA evaluates per market.
Market Overview
South Bend is home to the University of Notre Dame, whose football weekends and campus events are the region’s single biggest tourism driver, part of nearly 5 million annual visitors to South Bend and St. Joseph County generating roughly $621.9 million in direct visitor spending. Population is 103,713.
In June 2026, the South Bend STR market posted a blended ADR of $233.96 and 51.2% occupancy, with average monthly revenue of $3,290/listing. Occupancy is down sharply, 12.91 percentage points year over year, while ADR is up 18.78% and revenue is down 6.64% year over year, a market trading volume for rate.
The seasonal data shows the Notre Dame effect directly: September, October, and November all post ADR above $300/night (peaking at $337 in September) even though occupancy in those months runs lower than the summer peak, evidence that football-weekend demand concentrates on specific dates rather than lifting the whole month’s occupancy.
Longer-term, annual average occupancy has ranged from 43-54% since 2017 without a strong trend, while ADR climbed from $198 in 2019 to $252-264 in 2023-2025, before easing to $212 in the partial 2026 year to date.
Tracked inventory is fairly evenly split by size: 3-bedroom listings are the largest segment at 28.9%, followed by 4-bedroom at 21.8%, 1-bedroom at 20.8%, 2-bedroom at 18.0%, and 5-plus-bedroom at 10.4%. Entire-place listings dominate at 88.6% of the market, versus 11.2% private rooms and 0.2% shared rooms.
Seasonal Patterns
| Month | Occupancy | ADR | Revenue |
|---|---|---|---|
| Jan | 38% | $169 | $1,992 |
| Feb | 48% | $160 | $1,826 |
| Mar | 50% | $147 | $1,944 |
| Apr | 52% | $155 | $1,918 |
| May | 49% | $215 | $2,321 |
| Jun | 53% | $189 | $2,735 |
| Jul | 63% | $191 | $3,161 |
| Aug | 55% | $196 | $2,804 |
| Sep | 47% | $337 | $3,581 |
| Oct | 38% | $323 | $3,264 |
| Nov | 37% | $310 | $3,046 |
| Dec | 38% | $208 | $2,544 |
Top Short-Term Rental Operators in South Bend market area
Ranked by total active listings. Useful for understanding the competitive landscape. Operator data is published for the South Bend market as a whole, which includes South Bend, so these counts are not South Bend-only figures.
| # | Operator | Listings | Reviews | Rating |
|---|---|---|---|---|
| 1 | Irish Management | 56 | 1,517 | ★ 4.87 |
| 2 | D&H Residential | 37 | 544 | ★ 4.76 |
| 3 | HomeStayHQ | 32 | 961 | ★ 4.64 |
| 4 | Evolve | 22 | 275 | ★ 4.72 |
| 5 | Gameday Housing | 16 | 111 | ★ 4.95 |
What Kind of STR Should I Buy in South Bend?
Revenue and pricing by property type, tier, and bedroom count.
Revenue by Bedroom Count
| 1 bed | 389 |
| 2 bed | 336 |
| 3 bed | 541 |
| 4 bed | 408 |
| 5 bed | 195 |
ADR by Property Tier
| Entire Home | $256 |
| Luxury | $866 |
| Professionally Managed | $291 |
Revenue by Dwelling Type
| Apartment | $2,053 |
| Entire Place | $3,591 |
| House | $3,536 |
Booking Channel Mix
Distribution of bookings across major STR platforms.
| Channel | Share |
|---|---|
| airbnb | 58% |
| vrbo | 5.9% |
| both | 36.1% |
Investment Analysis
South Bend’s listing-tier ADR shows an unusually wide luxury premium: the blended all-listing ADR is $233.96, entire-home listings average $256.10, professionally-managed listings average $291.20, and the luxury tier averages $866.35, more than 3.5 times the blended rate, likely reflecting a small number of high-end properties commanding premium rates during Notre Dame home-game weekends.
Using StaySTRA’s seasonal-sum method, a typical South Bend listing generates roughly $31,136/year in revenue. Against the area’s typical home value of $202,069, one of the lower price points in this batch, that works out to a gross yield of about 15.4%, notably high, before financing, operating costs, and taxes.
Housing is affordable and moves fast: median sale price is $197,333, against a median list price of $224,783 and a 0.878 sale-to-list ratio (homes trading below asking), with 491 homes for sale and a median 9 days to pending.
Regulation is light: South Bend has no dedicated STR license, treating short-term rentals as rental property subject to the city’s $5 annual Rental Registration; owner-occupied primary residences are exempt. Reporting suggests a common cap of up to four STR properties per operator (and up to 100 properties under a single owner or manager account), though investors should confirm current limits with the city. StaySTRA’s market_score dataset rates South Bend’s investability at 97.6/100 and revenue growth at 99.6/100, both the strongest scores in this batch, against a comparatively soft rental-demand score of 55.9/100.
Revenue Trend (5 yr)
ADR & Occupancy Trends (5 yr)
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Booking Insights
South Bend-market bookings average a 53.45-day lead time and a 4.49-night length of stay, roughly two months out, consistent with guests planning around specific Notre Dame home-game weekends and campus events rather than open-ended leisure travel.
Given how sharply ADR spikes in September through November around football weekends (up to $337/night) without a matching jump in monthly occupancy, operators should treat individual game-weekend dates as distinct high-demand events to price separately, rather than raising rates for the entire fall season.
Short-Term Rental Regulations
South Bend allows short-term rentals but has no dedicated STR license; instead, operators must comply with the city’s mandatory Rental Registration program administered by DCI Neighborhood Services & Enforcement. Any owner of residential rental property they do not personally occupy must register, at a cost of $5, renewed annually; failure to register carries a $300 civil penalty. Owner-occupied primary residences are exempt from registration.
Registered rentals are subject to an occupancy inspection verifying compliance with the International Property Maintenance Code (electrical, plumbing, heating and ventilation, safety devices, structural integrity), and operators should designate a responsible local agent as the primary contact. Reporting suggests a common cap of up to four STR properties per operator, and up to 100 properties may be registered under a single owner or manager account, though specific zoning-district allowances should be confirmed with the city.
Lodging is taxed via the St. Joseph County Innkeeper’s Tax of 8% plus Indiana’s 7% state sales tax, for roughly 15% total lodging tax; Airbnb and VRBO typically collect and remit this on platform bookings. There is no city-imposed annual night cap or owner-occupancy mandate. Enforcement is rated moderate, driven by registration compliance and property-maintenance inspections rather than aggressive STR-specific crackdowns.
Market Comparison
South Bend’s June 2026 occupancy of 51.2% runs below the commonly cited US STR median of roughly 55%, while its $233.96 blended ADR sits slightly above the roughly $220 US median; the market’s luxury tier ($866.35) is far above the national benchmark, reflecting premium game-weekend pricing rather than typical nightly rates.
South Bend’s top-tracked property managers are Irish Management (56 listings, 1,517 reviews, 4.87 rating), D&H Residential (37 listings, 544 reviews, 4.76 rating), HomeStayHQ (32 listings, 961 reviews, 4.64 rating), Evolve (22 listings, 275 reviews, 4.72 rating), and Gameday Housing (16 listings, 111 reviews, 4.95 rating); two of the five operator names, Irish Management and Gameday Housing, directly reference the Notre Dame football tie that drives this market.
StaySTRA’s market_score dataset rates South Bend at 89.8/100 overall, with investability (97.6/100) and revenue growth (99.6/100) both standout scores.
Frequently Asked Questions About South Bend, Indiana
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