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Evansville, IN—47711

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value
$191,000
3.2% YoY Growth
Household Income
$65,400
26.6% YoY Growth
Days on Market
67
35.0% Longer YoY
Home Price Forecast
2.0%
Median Rent
$950
7.0% YoY Growth
1-Bed Rent
$695
9.6% YoY Growth
2-Bed Rent
$995
6.8% YoY Growth
3-Bed Rent
$1,300
6.3% YoY Growth

Other Zip Codes in Evansville, IN

4770847713477154771047714477124772547720
  • Home Price Trends
  • Rental Trends
  • Property Listings
  • Demographics
  • Mortgage and Risk

Home Price Trends — Evansville, IN

As of May '26, the median home price in Evansville, IN is $191,000, with a year-over-year change of 3.2%. 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 TypeMedian Home ValueYoY % Change
All Homes
$191,0003.2%
Single Family $190,0003.3%
Condos $217,0005.9%

Cost per Home Size

Home SizeMedian Home ValueYoY % Change
1 Bed

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  • Affordability
  • Rentals and Section 8
    • $62,000
    -6.1%
    2 Bed
    		$119,0001.7%
    3 Bed
    		$236,0004.4%
    4 Bed
    		$324,0004.9%
    5 Bed $356,1884.2%
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    % of Housing Stock

    Studio
    0.5%
    1 Bedroom
    8.5%
    2 Bedrooms
    35.0%
    3 Bedrooms
    41.5%
    4 Bedrooms
    12.1%
    5+ Bedrooms
    2.4%

    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.

    TypeMedian RentAverage 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
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    % of Rental Stock

    1 Bedroom
    21.8%
    2 Bedrooms
    43.1%
    3 Bedrooms
    28.6%
    4 Bedrooms
    3.3%
    5+ Bedrooms
    3.2%

    Property Listings — Evansville, IN

    As of May '26, Realtor.com reports that the median days on market for a home in Evansville, IN is 67. This is a increase of 35.0% 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 25.0%, representing a small inventory and little supply pressure on home prices.

    MetricZip Code AverageYear over Year % Change
    Median Listing Price
    		$150,000-28.0%
    Listing Count
    		16037.0%
    Listings as % of Homes0.3%37.0%
    Days on Market
    		6735.0%
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    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.

    MetricLatest CensusYoY % 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%
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    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

    MetricLatest Census5-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%
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    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

    MetricZip 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%
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    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 SizeHUD PremiumMarket RentMax 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

    MetricZip Code Average
    Home Price to Income Ratio2.5
    Median Home Price$191,000
    Median Household Income$65,400

    Evansville, IN — ZIP Code Boundary Map

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    Frequently Asked Questions