How much is a home worth in ZIP code 46545?

The typical home in 46545 is worth $214,246, based on the Zillow Home Value Index.

Are home values rising in 46545?

Home values in 46545 are up 3.5% over the past year, and up 6.6% a year over five years.

What is the typical rent in 46545?

A typical home in 46545 rents for about $1,522 a month, a gross rental yield of 8.5%.

What is the property tax rate in 46545?

The effective property tax rate in 46545 is 0.7% — roughly $1,571 a year on a typical home.

ZIP code 46545 has a population of 26,606 and a median household income of $56,865.

HousingHandbookReference data

…

U.S. ZIP Code · IN46545

St. Joseph County · South Bend-Mishawaka, IN-MI

Typical home value

$214,246^[1]

Zillow Home Value Index, as of April 2026

Appreciation

1-year: +3.5%
5-year / yr: +6.6%
10-year / yr: +7.5%

Relative price

vs U.S.: -24.6%
vs metro: -14.5%
vs state: -7.4%

Price history

Zillow Home Value Index — monthly, smoothed and seasonally adjusted.

The typical home in 46545 is worth $214,246 — 14.5% below the South Bend-Mishawaka, IN-MI median. Over the past year, values have risen 3.5%. Homes here rent for a typical $1,522 a month — a 8.5% gross rental yield. The effective property tax rate is 0.7%.

#Rent & investment

Typical asking rent, and the returns it implies at the current home value.

Monthly rent: $1,522^[2]
Gross yield: 8.5%^[2]
Cap rate: 5.1%^[2]

#Property tax

Effective rate — total real estate taxes paid relative to total home value.

Effective tax rate: 0.7%^[3]
Typical annual tax: $1,571^[3]

#Climate risk

FEMA National Risk Index ratings for St. Joseph County. "Not Applicable" means the hazard does not threaten the county.

Overall risk: Relatively Moderate^[4]
Riverine flood: Relatively Moderate
Coastal flood: Not Applicable
Wildfire: Very Low
Drought: Very Low
Heat wave: Relatively Moderate
Hurricane: Very Low
Tornado: Relatively High
Earthquake: Relatively Low
Winter weather: Relatively Moderate

#Who lives here

Population: 26,606^[3]
Median household income: $56,865^[3]

#Migration

Household moves in and out of St. Joseph County over a year, from IRS tax-return data.

Net migration: -632^[5]
Moved in: 6,085
Moved out: 6,717

Schools

Open public schools in this ZIP, from the NCES Common Core of Data.

Public schools: 8
Elementary: 5
Middle: 2
High: 1

Penn High School
High · Grades 9–12 · Penn-Harris-Madison School Corp
3,847 students
Schmucker Middle School
Middle · Grades 6–8 · Penn-Harris-Madison School Corp
995 students
John J Young Middle School
Middle · Grades 7–8 · School City of Mishawaka
738 students
Walt Disney Elementary School
Elementary · Grades K–5 · Penn-Harris-Madison School Corp
521 students
Bittersweet Elementary School
Elementary · Grades PK–5 · Penn-Harris-Madison School Corp
515 students

Run the numbers

Interactive calculators pre-filled with this ZIP's typical home value, rent, and property-tax rate. Edit any field to recompute.

Home value$Monthly rent$

Gross yield8.5%

Net yield (after ~40% expenses)5.1%

Annual rent$18,261

Gross and net yield are estimates based on the inputs and the selected expense ratio. Actual income and expenses will vary by property and market. Not investment advice.

Home price$Down payment%Interest rate%Loan termyears

Monthly payment$1,083

Loan principal$171,397

Down payment$42,849

Total interest paid$218,607

Estimated monthly payments include principal and interest only. Actual costs will include property tax, insurance, possibly PMI, and HOA fees not modeled here. Loan terms shown are estimates; consult a licensed lender for current rates and qualification.

Home price$Monthly rent$Down payment%Mortgage rate%Property tax rate% / yrMaintenance% / yrRule of thumb: 1% of home value per year.

Own : rent ratio0.91

Monthly cost to own$1,392

Monthly rent$1,522

Owning is meaningfully cheaper month-to-month.

This calculator projects multi-year scenarios based on assumptions about appreciation, rent growth, and investment returns — none of which are guaranteed. Actual outcomes depend on variables this tool cannot know. Not financial or real estate advice.

#Metro ranking

Where this ZIP sits among others in its metro area.

Appreciation: 43rd percentile^[1]
Rental yield: 45th percentile^[2]
Property tax: 4th percentile^[3]

Frequently asked

How much is a home worth in ZIP code 46545?: The typical home in 46545 is worth $214,246, based on the Zillow Home Value Index.
Are home values rising in 46545?: Home values in 46545 are up 3.5% over the past year, and up 6.6% a year over five years.
What is the typical rent in 46545?: A typical home in 46545 rents for about $1,522 a month, a gross rental yield of 8.5%.
What is the property tax rate in 46545?: The effective property tax rate in 46545 is 0.7% — roughly $1,571 a year on a typical home.
Who lives in 46545?: ZIP code 46545 has a population of 26,606 and a median household income of $56,865.

#Comparable ZIPs

Same metro, nearest typical home value. Each card shows the comparable ZIP's headline numbers so you can scan at a glance.

46544 vs 46545 →
Mishawaka, IN
Typical home
$206,622
Gross yield
7.6%
49047 vs 46545 →
Dowagiac, MI
Typical home
$224,845
Gross yield
—
46614
South Bend, IN
Typical home
$241,048
Gross yield
6.1%
49061
MI
Typical home
$242,413
Gross yield
—
49067
Marcellus, MI
Typical home
$247,594
Gross yield
—
46615
South Bend, IN
Typical home
$179,713
Gross yield
9.1%

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#Jump to section

U.S. ZIP Code · IN46545

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