Evansville, IN—47712
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 $200,000, with a year-over-year change of 5.2%. 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 | $200,000 | 5.2% |
| Single Family | $198,000 | 5.3% |
| Condos | $302,000 | 4.1% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $77,000 | -2.5% |
2 Bed | $133,000 | 3.9% |
3 Bed | $239,000 | 5.8% |
4 Bed | $307,000 | 4.4% |
| 5 Bed | $360,000 | 3.4% |
% of Housing Stock
Rental Trends — Evansville, IN
As of July '25, Rentcast reports the average rent in Evansville, IN is $936, with a year-over-year rent change of -17.9%. Per bedroom, the median rent as of July '25 in Evansville, IN is 1-bedrooms: $653, 2-bedrooms: $825, 3-bedrooms: $1,440, 4-bedrooms: $727. The most common rental property sizes in Evansville, IN are 2-bedroom and 1-bedroom, accounting for 38.8% and 33.6% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $800 | $936 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $600 | $653 |
| 2 Bed Rent | $800 | $825 |
| 3 Bed Rent | $1,350 | $1,440 |
| 4 Bed Rent | $800 | $727 |
% 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 39. This is a decrease of -6.0% 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 23.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $181,000 | -8.0% |
Listing Count | 77 | 2.0% |
| Listings as % of Homes | 0.3% | 2.0% |
Days on Market | 39 | -6.0% |
Demographics — Evansville, IN
As of the latest ACS Survey released in 2023, Evansville, IN has a population of 25,000, which has decreased by -7.0% over the past 5 years. Evansville, IN is a moderately popular place for families, as children make up 20.0% of the population. The area has a moderately educated workforce, with 28.5% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 5.5% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 25,000 | -7.0% |
% Under 18 | 20.0% | 1.0% |
% Seniors | 15.9% | 15.2% |
% WFH | 5.5% | 266.7% |
% w/ College Degree | 28.5% | 9.2% |
As of the latest ACS Survey released in 2023, Evansville, IN is a predominantly white area, with 90.6% of the population identifying as white. The white population has shrunk by 3.3% in the last 5 years. The second most common race or ethnicity in Evansville, IN is hispanic, making up 2.2% of the population. Foreign-born residents account for 2.2% of the population in Evansville, IN, and this percentage has decreased by 12.0% 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 | 90.6% | -3.3% |
% Black | 1.8% | -25.0% |
% Hispanic | 2.2% | 100.0% |
% Asian | 1.7% | 70.0% |
% Foreign Born | 2.2% | -12.0% |
Mortgage and Risk — Evansville, IN
According to HUD data as of 2023, there were 368 mortgage originations in Evansville, IN, of which 80.0% of loans were conventional mortgages. The average loan-to-value was 67.0%, with 33.0% above 90% LTV (very high). This implies large mortgage risk in Evansville, IN. Investor activity is low, as 4.0% of loans were by investors. 16.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 368 |
% Conventional Loans | 80.0% |
% Government Loans | 20.0% |
% Investor Loans | 4.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 16.0% |
Loan Activity
Rentals and Section 8 — Evansville, IN
As of 2024, the percent of homes in Evansville, IN under the Section 8 program is 5.0%. 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. 1-bedroom and 2-bedroom and 4-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 units do not.
Section 8 Market Size
Total Units under HUD | 196 |
Total Units Section 8 | 197 |
% Rentals under Section 8 | 5.0% |
% Occupied Section 8 | 77.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $240 | $600 | $840 |
| 2 Bedroom | $280 | $800 | $1,080 |
| 3 Bedroom | -$20 | $1,350 | $1,330 |
| 4 Bedroom | $710 | $800 | $1,510 |
Affordability — Evansville, IN
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 2.7 |
| Median Home Price | $200,000 |
| Median Household Income | $64,300 |