South Bend

As of May 2026, South Bend, Notre Dame, Mishawaka have 2,938 active Airbnb and VRBO listings. This represents a 0% decrease from the previous year.

The average Airbnb or VRBO in South Bend generates $41K per year. High-performing properties earn $110K/year, while low-performing properties earn $20K/year. This wide disparity suggests that revenue potential is heavily bifurcated, with top-tier assets capturing significant market share despite a 35% decline in overall annual revenue.

Average home prices in South Bend vary by property size: 1-bedroom properties cost approximately $123K, 2-bedroom homes average $192K, 3-bedroom properties are around $269K, and 4+ bedroom homes average $330K. These prices reflect median home values across the South Bend, Notre Dame, Mishawaka area.

Airbnb and VRBO can be profitable in South Bend, with an average gross yield of 13% across all properties. High-performing properties achieve yields up to 36%, which is considered top for short-term rental investment. The gap between these figures highlights that while the market average is moderate, elite assets maintain aggressive profitability despite stagnant supply growth.

The average occupancy rate for Airbnbs and VRBOs in South Bend is 28%. This occupancy level, combined with an average nightly rate of $398, results in a RevPAR (revenue per available room) of $78 per day.

4+ bedroom properties demonstrate the strongest performance in South Bend, with an average gross yield of 15% and annual revenue of $58K. These properties balance purchase price ($330K), operating costs, and rental demand most effectively in the South Bend market.

Short-term rental regulations vary by jurisdiction in the South Bend area. South Bend: Moderate. Registration required, $50 annual fee, safety inspections, occupancy limits. Zoning restrictions apply. Enforcement present but not aggressive. Notre Dame: Lenient. No specific STR regulations beyond standard business licensing. Limited enforcement activity. Mishawaka: Lenient. Business license required, basic zoning compliance. Minimal dedicated STR enforcement, hosts operate with few restrictions. Always verify current regulations with local authorities and obtain necessary permits before operating a short-term rental.

The South Bend Airbnb and VRBO market is currently showing balanced conditions. Supply has declined 0% year-over-year, while RevPAR has decreased 35%. This indicates balanced supply-demand dynamics, suggesting that the current market contraction is driven by lower demand rather than an oversupply of listings.

Launch around April, 2-3 months before peak summer season (July peaks). This pre-peak timing lets you build reviews when competition is 43% lower than peak months. Avoid launching during peak season when established listings dominate, or slow months (March-January) when gaining traction is harder.

The most common amenities in South Bend listings include: Air Conditioning (99%), Kitchen (93%), Tv (84%), Washing Machine (81%), Heating (67%). Amenities that boost revenue the most include Air Conditioning, Washing Machine, Hot Tub, with Air Conditioning properties earning approximately 75% more ($78K/year vs $44K/year).

Monthly estimated revenue per listing in South Bend over the last 12 months: May: $2K, June: $3K, July: $5K, August: $4K, September: $3K, October: $3K, November: $2K, December: $1K, January: $860, February: $915, March: $1K, April: $2K. These figures are based on RevPAR (revenue per available room) multiplied by the number of days in each month.

The overall average nightly rate in South Bend is $398, up 12% year-over-year. By property size: 1-bedroom properties average $181/night, 2-bedroom properties average $252/night, 3-bedroom properties average $338/night, 4+ bedroom properties average $660/night. Rates peak in August and are lowest in March.

Guests in South Bend book an average of 35 days in advance, down 22% from last year. By property size: 1-bedroom: 27 days, 2-bedroom: 32 days, 3-bedroom: 34 days, 4+ bedroom: 41 days. Larger properties tend to have longer booking windows as guests plan group trips further ahead.

Over the past year, the South Bend Airbnb and VRBO market has seen the following changes: supply declined 0%, revenue per listing decreased 35%, occupancy fell 15%, average nightly rates increased 12%, and lead time decreased 22%. These shifts point to a compressed booking window and softening occupancy, even as hosts attempt to offset lower volume with higher pricing.

In South Bend, Saturday sees the highest booking demand while Tuesday has the lowest. Nightly rates peak on Saturday and are lowest on Wednesday. Weekends show 61% higher occupancy than weekdays.