Evansville, IN—47725
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 $319,000, with a year-over-year change of 2.9%. 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 | $319,000 | 2.9% |
| Single Family | $321,000 | 2.9% |
| Condos | $251,000 | 5.0% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $226,000 | 6.6% |
3 Bed | $291,000 | 2.8% |
4 Bed | $400,000 | 3.1% |
| 5 Bed | $572,000 | 4.2% |
% of Housing Stock
Rental Trends — Evansville, IN
As of July '25, Rentcast reports the average rent in Evansville, IN is $2,040, with a year-over-year rent change of -12.4%. Per bedroom, the median rent as of July '25 in Evansville, IN is 2-bedrooms: $1,440, 3-bedrooms: $2,000, 4-bedrooms: $2,410. The most common rental property sizes in Evansville, IN are 3-bedroom and 2-bedroom, accounting for 45.2% and 24.9% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $2,000 | $2,040 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | N/A | N/A |
| 2 Bed Rent | $1,350 | $1,440 |
| 3 Bed Rent | $2,000 | $2,000 |
| 4 Bed Rent | $2,300 | $2,410 |
% 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 52. This is a increase of 29.0% 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 47.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $354,000 | -8.0% |
Listing Count | 133 | 23.0% |
| Listings as % of Homes | 0.7% | 23.0% |
Days on Market | 52 | 29.0% |
Demographics — Evansville, IN
As of the latest ACS Survey released in 2023, Evansville, IN has a population of 19,400, which has increased by 12.6% over the past 5 years. Evansville, IN is a moderately popular place for families, as children make up 24.0% of the population. The area has a moderately educated workforce, with 44.3% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 9.4% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 19,400 | 12.6% |
% Under 18 | 24.0% | -13.7% |
% Seniors | 18.3% | 25.3% |
% WFH | 9.4% | 141.0% |
% w/ College Degree | 44.3% | -5.3% |
As of the latest ACS Survey released in 2023, Evansville, IN is a predominantly white area, with 92.2% of the population identifying as white. The white population has grown by 1.4% in the last 5 years. The second most common race or ethnicity in Evansville, IN is hispanic, making up 3.4% of the population. Foreign-born residents account for 2.2% of the population in Evansville, IN, and this percentage has decreased by 48.8% 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 | 92.2% | 1.4% |
% Black | 0.8% | -69.2% |
% Hispanic | 3.4% | 100.0% |
% Asian | 2.0% | -28.6% |
% Foreign Born | 2.2% | -48.8% |
Mortgage and Risk — Evansville, IN
According to HUD data as of 2023, there were 649 mortgage originations in Evansville, IN, of which 86.0% of loans were conventional mortgages. The average loan-to-value was 69.0%, with 25.0% above 90% LTV (very high). This implies large mortgage risk in Evansville, IN. Investor activity is low, as 2.0% of loans were by investors. 17.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 649 |
% Conventional Loans | 86.0% |
% Government Loans | 14.0% |
% Investor Loans | 2.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 17.0% |
Loan Activity
Rentals and Section 8 — Evansville, IN
Evansville, IN lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | N/A |
Total Units Section 8 | N/A |
% Rentals under Section 8 | N/A |
% Occupied Section 8 | N/A |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | N/A | N/A | $1,200 |
| 2 Bedroom | $190 | $1,350 | $1,540 |
| 3 Bedroom | -$100 | $2,000 | $1,900 |
| 4 Bedroom | -$150 | $2,300 | $2,150 |
Affordability — Evansville, IN
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 2.8 |
| Median Home Price | $319,000 |
| Median Household Income | $106,000 |