Evansville, IN—47715
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 $229,000, with a year-over-year change of 3.6%. This indicates that home prices in Evansville, IN are increasing. According to Zillow, the 1-year price projection is 1.8%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $229,000 | 3.6% |
| Single Family | $234,000 | 4.0% |
| Condos | $176,000 | 5.4% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $83,000 | 1.2% |
2 Bed | $174,000 | 4.8% |
3 Bed | $226,000 | 3.7% |
4 Bed | $329,000 | 3.8% |
| 5 Bed | $432,000 | 3.3% |
% of Housing Stock
Rental Trends — Evansville, IN
As of July '25, Rentcast reports the average rent in Evansville, IN is $1,260, with a year-over-year rent change of -0.8%. Per bedroom, the median rent as of July '25 in Evansville, IN is studios: $1,800, 1-bedrooms: $1,060, 2-bedrooms: $1,210, 3-bedrooms: $1,520. The most common rental property sizes in Evansville, IN are 2-bedroom and 1-bedroom, accounting for 49.4% and 29.6% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,250 | $1,260 |
| Studio Rent | $1,800 | $1,800 |
| 1 Bed Rent | $1,010 | $1,060 |
| 2 Bed Rent | $1,200 | $1,210 |
| 3 Bed Rent | $1,570 | $1,520 |
| 4 Bed Rent | N/A | N/A |
% 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 45. This is a increase of 21.0% 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 37.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $269,000 | 10.0% |
Listing Count | 93 | 27.0% |
| Listings as % of Homes | 0.2% | 27.0% |
Days on Market | 45 | 21.0% |
Demographics — Evansville, IN
As of the latest ACS Survey released in 2023, Evansville, IN has a population of 28,500, which has increased by 8.1% over the past 5 years. Evansville, IN is a moderately popular place for families, as children make up 22.3% of the population. The area has a moderately educated workforce, with 29.1% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 6.1% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 28,500 | 8.1% |
% Under 18 | 22.3% | 27.4% |
% Seniors | 20.8% | 2.5% |
% WFH | 6.1% | 134.6% |
% w/ College Degree | 29.1% | -13.4% |
As of the latest ACS Survey released in 2023, Evansville, IN is a predominantly white area, with 74.2% of the population identifying as white. The white population has shrunk by 10.7% in the last 5 years. The second most common race or ethnicity in Evansville, IN is black, making up 12.6% of the population. Foreign-born residents account for 5.7% of the population in Evansville, IN, and this percentage has increased by 111.1% 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 | 74.2% | -10.7% |
% Black | 12.6% | 20.0% |
% Hispanic | 6.0% | 122.2% |
% Asian | 2.1% | 61.5% |
% Foreign Born | 5.7% | 111.1% |
Mortgage and Risk — Evansville, IN
According to HUD data as of 2023, there were 500 mortgage originations in Evansville, IN, of which 80.0% of loans were conventional mortgages. The average loan-to-value was 78.0%, with 26.0% above 90% LTV (very high). This implies large mortgage risk in Evansville, IN. Investor activity is low, as 3.0% of loans were by investors. 21.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 500 |
% Conventional Loans | 80.0% |
% Government Loans | 20.0% |
% Investor Loans | 3.0% |
% Second Loans | 2.0% |
% Cash Out Refinance | 21.0% |
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 | 905 |
Total Units Section 8 | 905 |
% Rentals under Section 8 | 13.4% |
% Occupied Section 8 | 85.2% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$80 | $1,010 | $930 |
| 2 Bedroom | -$10 | $1,200 | $1,190 |
| 3 Bedroom | -$100 | $1,570 | $1,470 |
| 4 Bedroom | N/A | N/A | $1,660 |
Affordability — Evansville, IN
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.4 |
| Median Home Price | $229,000 |
| Median Household Income | $59,800 |