Evansville, IN—47711
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 $181,000, with a year-over-year change of 4.1%. This indicates that home prices in Evansville, IN are increasing. According to Zillow, the 1-year price projection is 1.7%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $181,000 | 4.1% |
| Single Family | $180,000 | 4.0% |
| Condos | $206,000 | 4.6% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $60,000 | 1.7% |
2 Bed | $112,000 | 1.8% |
3 Bed | $224,000 | 4.7% |
4 Bed | $308,000 | 3.7% |
| 5 Bed | $343,000 | 3.6% |
% of Housing Stock
Rental Trends — Evansville, IN
As of July '25, Rentcast reports the average rent in Evansville, IN is $1,060, with a year-over-year rent change of -7.0%. Per bedroom, the median rent as of July '25 in Evansville, IN is studios: $400, 1-bedrooms: $684, 2-bedrooms: $1,090, 3-bedrooms: $1,510, 4-bedrooms: $1,060. The most common rental property sizes in Evansville, IN are 2-bedroom and 3-bedroom, accounting for 43.1% and 28.6% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $950 | $1,060 |
| Studio Rent | $400 | $400 |
| 1 Bed Rent | $695 | $684 |
| 2 Bed Rent | $995 | $1,090 |
| 3 Bed Rent | $1,300 | $1,510 |
| 4 Bed Rent | $875 | $1,060 |
% 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 48. This is a increase of 6.0% from last year, suggesting that homes are sitting on the market longer than last year. The percentage of listed homes with a reduced price is 36.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $155,000 | 4.0% |
Listing Count | 182 | 4.0% |
| Listings as % of Homes | 0.3% | 4.0% |
Days on Market | 48 | 6.0% |
Demographics — Evansville, IN
As of the latest ACS Survey released in 2023, Evansville, IN has a population of 30,800, which has decreased by -4.8% over the past 5 years. Evansville, IN is a moderately popular place for families, as children make up 20.6% of the population. The area has a poorly educated workforce, with 23.8% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 5.7% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 30,800 | -4.8% |
% Under 18 | 20.6% | -3.7% |
% Seniors | 18.9% | 24.3% |
% WFH | 5.7% | 72.7% |
% w/ College Degree | 23.8% | 9.2% |
As of the latest ACS Survey released in 2023, Evansville, IN is a predominantly white area, with 84.5% of the population identifying as white. The white population has shrunk by 5.7% in the last 5 years. The second most common race or ethnicity in Evansville, IN is black, making up 8.0% of the population. Foreign-born residents account for 1.8% of the population in Evansville, IN, and this percentage has decreased by 37.9% as of the ACS Survey 5 years prior, suggesting fewer immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 84.5% | -5.7% |
% Black | 8.0% | 73.9% |
% Hispanic | 1.8% | 5.9% |
% Asian | 0.7% | -65.0% |
% Foreign Born | 1.8% | -37.9% |
Mortgage and Risk — Evansville, IN
According to HUD data as of 2023, there were 655 mortgage originations in Evansville, IN, of which 74.0% of loans were conventional mortgages. The average loan-to-value was 71.0%, with 34.0% above 90% LTV (very high). This implies large mortgage risk in Evansville, IN. Investor activity is low, as 7.0% of loans were by investors. 20.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 655 |
% Conventional Loans | 74.0% |
% Government Loans | 26.0% |
% Investor Loans | 7.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 20.0% |
Loan Activity
Rentals and Section 8 — Evansville, IN
As of 2024, the percent of homes in Evansville, IN under the Section 8 program is 7.0%. This is considered low, suggesting that the neighborhood is sparsely 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 | 239 |
Total Units Section 8 | 239 |
% Rentals under Section 8 | 7.0% |
% Occupied Section 8 | 77.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $155 | $695 | $850 |
| 2 Bedroom | $95 | $995 | $1,090 |
| 3 Bedroom | $40 | $1,300 | $1,340 |
| 4 Bedroom | $645 | $875 | $1,520 |
Affordability — Evansville, IN
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 2.5 |
| Median Home Price | $181,000 |
| Median Household Income | $65,400 |