Evansville, IN—47714
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 $136,000, with a year-over-year change of 1.2%. This indicates that home prices in Evansville, IN are increasing. According to Zillow, the 1-year price projection is 2.0%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $136,000 | 1.2% |
| Single Family | $137,000 | 1.5% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $76,000 | 7.0% |
2 Bed | $114,000 | 0.0% |
3 Bed | $149,000 | 1.4% |
4 Bed | $200,000 | 3.1% |
| 5 Bed | $258,000 | 3.2% |
% 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 0.0%. Per bedroom, the median rent as of July '25 in Evansville, IN is 1-bedrooms: $709, 2-bedrooms: $1,010, 3-bedrooms: $1,320, 4-bedrooms: $1,650. The most common rental property sizes in Evansville, IN are 2-bedroom and 1-bedroom, accounting for 40.7% and 27.5% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $950 | $1,060 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $687 | $709 |
| 2 Bed Rent | $907 | $1,010 |
| 3 Bed Rent | $1,400 | $1,320 |
| 4 Bed Rent | $1,650 | $1,650 |
% 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 43. This is a decrease of -4.0% 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 26.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $125,000 | -11.0% |
Listing Count | 145 | 20.0% |
| Listings as % of Homes | 0.2% | 20.0% |
Days on Market | 43 | -4.0% |
Demographics — Evansville, IN
As of the latest ACS Survey released in 2023, Evansville, IN has a population of 33,100, which has decreased by -3.2% over the past 5 years. Evansville, IN is a moderately popular place for families, as children make up 20.5% of the population. The area has a poorly educated workforce, with 21.9% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 4.2% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 33,100 | -3.2% |
% Under 18 | 20.5% | -12.8% |
% Seniors | 14.4% | 9.1% |
% WFH | 4.2% | 162.5% |
% w/ College Degree | 21.9% | 13.5% |
As of the latest ACS Survey released in 2023, Evansville, IN is a predominantly white area, with 70.9% of the population identifying as white. The white population has shrunk by 2.1% in the last 5 years. The second most common race or ethnicity in Evansville, IN is black, making up 17.4% of the population. Foreign-born residents account for 5.6% of the population in Evansville, IN, and this percentage has increased by 33.3% 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 | 70.9% | -2.1% |
% Black | 17.4% | 8.1% |
% Hispanic | 5.6% | 1.8% |
% Asian | 1.1% | 83.3% |
% Foreign Born | 5.6% | 33.3% |
Mortgage and Risk — Evansville, IN
According to HUD data as of 2023, there were 551 mortgage originations in Evansville, IN, of which 75.0% of loans were conventional mortgages. The average loan-to-value was 79.0%, with 40.0% above 90% LTV (very high). This implies large mortgage risk in Evansville, IN. Investor activity is low, as 8.0% of loans were by investors. 18.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 551 |
% Conventional Loans | 75.0% |
% Government Loans | 25.0% |
% Investor Loans | 8.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 18.0% |
Loan Activity
Rentals and Section 8 — Evansville, IN
As of 2024, the percent of homes in Evansville, IN under the Section 8 program is 11.6%. 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. 1-bedroom and 2-bedroom units appear to be good home sizes to consider for Section 8 housing in Evansville, IN, because HUD payments exceed market rent, while 3-bedroom and 4-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 680 |
Total Units Section 8 | 680 |
% Rentals under Section 8 | 11.6% |
% Occupied Section 8 | 78.9% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $143 | $687 | $830 |
| 2 Bedroom | $153 | $907 | $1,060 |
| 3 Bedroom | -$90 | $1,400 | $1,310 |
| 4 Bedroom | -$170 | $1,650 | $1,480 |
Affordability — Evansville, IN
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 2.3 |
| Median Home Price | $136,000 |
| Median Household Income | $54,600 |