Evansville, IN—47710
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Evansville, IN
As of Oct '25, the median home price in Evansville, IN is $150,000, with a year-over-year change of 7.0%. This indicates that home prices in Evansville, IN are increasing. According to Zillow, the 1-year price projection is 1.6%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $150,000 | 7.0% |
| Single Family | $146,000 | 6.6% |
| Condos | $252,000 | 3.3% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $49,000 | 2.1% |
2 Bed | $86,000 | 0.0% |
3 Bed | $167,000 | 6.4% |
4 Bed | $222,000 | 4.7% |
| 5 Bed | $249,000 | 2.5% |
% of Housing Stock
Rental Trends — Evansville, IN
As of July '25, Rentcast reports the average rent in Evansville, IN is $971, with a year-over-year rent change of -8.4%. Per bedroom, the median rent as of July '25 in Evansville, IN is studios: $674, 1-bedrooms: $744, 2-bedrooms: $1,000, 3-bedrooms: $944, 4-bedrooms: $1,200. The most common rental property sizes in Evansville, IN are 1-bedroom and 2-bedroom, accounting for 38.3% and 33.6% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $895 | $971 |
| Studio Rent | $672 | $674 |
| 1 Bed Rent | $695 | $744 |
| 2 Bed Rent | $950 | $1,000 |
| 3 Bed Rent | $850 | $944 |
| 4 Bed Rent | $1,200 | $1,200 |
% of Rental Stock
Property Listings — Evansville, IN
As of Oct '25, Realtor.com reports that the median days on market for a home in Evansville, IN is 55. This is a decrease of -9.0% from last year, suggesting that homes are sitting on the market shorter than last year. The percentage of listed homes with a reduced price is 18.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $130,000 | 1.0% |
Listing Count | 68 | 6.0% |
| Listings as % of Homes | 0.2% | 6.0% |
Days on Market | 55 | -9.0% |
Demographics — Evansville, IN
As of the latest ACS Survey released in 2023, Evansville, IN has a population of 18,800, which has decreased by -1.5% over the past 5 years. Evansville, IN is a moderately popular place for families, as children make up 23.6% of the population. The area has a poorly educated workforce, with 17.5% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 5.1% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 18,800 | -1.5% |
% Under 18 | 23.6% | 12.4% |
% Seniors | 19.3% | 9.0% |
% WFH | 5.1% | 410.0% |
% w/ College Degree | 17.5% | 6.1% |
As of the latest ACS Survey released in 2023, Evansville, IN is a predominantly white area, with 83.1% of the population identifying as white. The white population has shrunk by 2.6% in the last 5 years. The second most common race or ethnicity in Evansville, IN is black, making up 5.9% of the population. Foreign-born residents account for 1.9% of the population in Evansville, IN, and this percentage has increased by 72.7% as of the ACS Survey 5 years prior, suggesting more immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 83.1% | -2.6% |
% Black | 5.9% | -38.5% |
% Hispanic | 3.7% | 94.7% |
% Asian | 0.8% | -20.0% |
% Foreign Born | 1.9% | 72.7% |
Mortgage and Risk — Evansville, IN
According to HUD data as of 2023, there were 223 mortgage originations in Evansville, IN, of which 75.0% of loans were conventional mortgages. The average loan-to-value was 73.0%, with 36.0% above 90% LTV (very high). This implies large mortgage risk in Evansville, IN. Investor activity is low, as 9.0% of loans were by investors. 15.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 223 |
% Conventional Loans | 75.0% |
% Government Loans | 25.0% |
% Investor Loans | 9.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 15.0% |
Loan Activity
Rentals and Section 8 — Evansville, IN
As of 2024, the percent of homes in Evansville, IN under the Section 8 program is 28.3%. This is considered high, suggesting that the neighborhood is heavily composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. In Evansville, IN, all tracked home sizes have HUD payment amounts above market rent, suggesting strong Section 8 opportunity across the board.
Section 8 Market Size
Total Units under HUD | 1,079 |
Total Units Section 8 | 1,078 |
% Rentals under Section 8 | 28.3% |
% Occupied Section 8 | 85.7% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $75 | $695 | $770 |
| 2 Bedroom | $30 | $950 | $980 |
| 3 Bedroom | $380 | $850 | $1,230 |
| 4 Bedroom | $210 | $1,200 | $1,410 |
Affordability — Evansville, IN
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 2.8 |
| Median Home Price | $150,000 |
| Median Household Income | $45,300 |