Evansville, IN—47713
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 $95,000, with a year-over-year change of 9.3%. 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 | $95,000 | 9.3% |
| Single Family | $94,000 | 9.3% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $75,000 | 8.7% |
3 Bed | $109,000 | 10.1% |
4 Bed | $130,000 | 9.2% |
| 5 Bed | $171,000 | 4.9% |
% of Housing Stock
Rental Trends — Evansville, IN
As of July '25, Rentcast reports the average rent in Evansville, IN is $902, with a year-over-year rent change of -7.2%. Per bedroom, the median rent as of July '25 in Evansville, IN is 1-bedrooms: $760, 2-bedrooms: $921, 3-bedrooms: $1,010, 4-bedrooms: $1,200. The most common rental property sizes in Evansville, IN are 2-bedroom and 1-bedroom, accounting for 34.6% and 26.3% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $895 | $902 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $775 | $760 |
| 2 Bed Rent | $900 | $921 |
| 3 Bed Rent | $995 | $1,010 |
| 4 Bed Rent | $1,200 | $1,200 |
% 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 49. This is a increase of 3.0% 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 38.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $122,000 | 1.0% |
Listing Count | 63 | 58.0% |
| Listings as % of Homes | 0.3% | 58.0% |
Days on Market | 49 | 3.0% |
Demographics — Evansville, IN
As of the latest ACS Survey released in 2023, Evansville, IN has a population of 9,930, which has decreased by -4.8% over the past 5 years. Evansville, IN is a moderately popular place for families, as children make up 24.1% of the population. The area has a poorly educated workforce, with 21.0% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 10.9% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 9,930 | -4.8% |
% Under 18 | 24.1% | 1.3% |
% Seniors | 13.7% | -2.8% |
% WFH | 10.9% | 581.2% |
% w/ College Degree | 21.0% | 16.0% |
As of the latest ACS Survey released in 2023, Evansville, IN is a predominantly white area, with 50.1% of the population identifying as white. The white population has grown by 5.7% in the last 5 years. The second most common race or ethnicity in Evansville, IN is black, making up 39.0% of the population. Foreign-born residents account for 4.6% of the population in Evansville, IN, and this percentage has increased by 58.6% 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 | 50.1% | 5.7% |
% Black | 39.0% | -5.8% |
% Hispanic | 2.7% | -44.9% |
% Asian | 1.0% | 900.0% |
% Foreign Born | 4.6% | 58.6% |
Mortgage and Risk — Evansville, IN
According to HUD data as of 2023, there were 128 mortgage originations in Evansville, IN, of which 74.0% of loans were conventional mortgages. The average loan-to-value was 98.0%, with 39.0% above 90% LTV (very high). This implies large mortgage risk in Evansville, IN. Investor activity is high, as 21.0% of loans were by investors. 10.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 128 |
% Conventional Loans | 74.0% |
% Government Loans | 26.0% |
% Investor Loans | 21.0% |
% Second Loans | 2.0% |
% Cash Out Refinance | 10.0% |
Loan Activity
Rentals and Section 8 — Evansville, IN
As of 2024, the percent of homes in Evansville, IN under the Section 8 program is 28.9%. This is considered high, suggesting that the neighborhood is heavily 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 | 832 |
Total Units Section 8 | 823 |
% Rentals under Section 8 | 28.9% |
% Occupied Section 8 | 78.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $15 | $775 | $790 |
| 2 Bedroom | $110 | $900 | $1,010 |
| 3 Bedroom | $255 | $995 | $1,250 |
| 4 Bedroom | $210 | $1,200 | $1,410 |
Affordability — Evansville, IN
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 2.1 |
| Median Home Price | $95,000 |
| Median Household Income | $37,400 |