Evansville, IN—47720
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Evansville, IN
As of Nov '25, the median home price in Evansville, IN is $258,000, with a year-over-year change of 4.8%. This indicates that home prices in Evansville, IN are increasing. According to Zillow, the 1-year price projection is 2.2%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $258,000 | 4.8% |
| Single Family | $260,000 | 4.8% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $131,000 | 4.8% |
2 Bed | $186,000 | 6.3% |
3 Bed | $264,000 | 4.8% |
4 Bed | $358,000 | 3.5% |
| 5 Bed | $423,398 | 2.3% |
% of Housing Stock
Rental Trends — Evansville, IN
As of July '25, Rentcast reports the average rent in Evansville, IN is $1,150, with a year-over-year rent change of 23.5%. Per bedroom, the median rent as of July '25 in Evansville, IN is 1-bedrooms: $738, 2-bedrooms: $800, 3-bedrooms: $1,300, 4-bedrooms: $1,900. The most common rental property sizes in Evansville, IN are 2-bedroom and 3-bedroom, accounting for 46.9% and 23.9% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,100 | $1,150 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $625 | $738 |
| 2 Bed Rent | $800 | $800 |
| 3 Bed Rent | $1,400 | $1,300 |
| 4 Bed Rent | $1,900 | $1,900 |
% of Rental Stock
Property Listings — Evansville, IN
As of Nov '25, Realtor.com reports that the median days on market for a home in Evansville, IN is 50. This is a decrease of -17.0% 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 35.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $327,000 | 20.0% |
Listing Count | 34 | 19.0% |
| Listings as % of Homes | 0.2% | 19.0% |
Days on Market | 50 | -17.0% |
Demographics — Evansville, IN
As of the latest ACS Survey released in 2023, Evansville, IN has a population of 17,100, which has decreased by -2.8% over the past 5 years. Evansville, IN is a moderately popular place for families, as children make up 23.9% of the population. The area has a moderately educated workforce, with 33.4% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 5.1% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 17,100 | -2.8% |
% Under 18 | 23.9% | 4.8% |
% Seniors | 20.2% | -4.3% |
% WFH | 5.1% | 104.0% |
% w/ College Degree | 33.4% | 6.7% |
As of the latest ACS Survey released in 2023, Evansville, IN is a predominantly white area, with 94.5% of the population identifying as white. The white population has shrunk by 2.9% in the last 5 years. The second most common race or ethnicity in Evansville, IN is hispanic, making up 1.2% of the population. Foreign-born residents account for 0.7% of the population in Evansville, IN, and this percentage has decreased by 12.5% 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 | 94.5% | -2.9% |
% Black | 0.1% | -83.3% |
% Hispanic | 1.2% | 100.0% |
% Asian | 0.8% | 14.3% |
% Foreign Born | 0.7% | -12.5% |
Mortgage and Risk — Evansville, IN
According to HUD data as of 2023, there were 341 mortgage originations in Evansville, IN, of which 87.0% of loans were conventional mortgages. The average loan-to-value was 61.0%, with 27.0% 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. 19.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 341 |
% Conventional Loans | 87.0% |
% Government Loans | 13.0% |
% Investor Loans | 4.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 19.0% |
Rentals and Section 8 — Evansville, IN
As of 2024, the percent of homes in Evansville, IN under the Section 8 program is 0.9%. 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 3-bedroom units appear to be good home sizes to consider for Section 8 housing in Evansville, IN, because HUD payments exceed market rent, while 4-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 10 |
Total Units Section 8 | 10 |
% Rentals under Section 8 | 0.9% |
% Occupied Section 8 | N/A |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $285 | $625 | $910 |
| 2 Bedroom | $370 | $800 | $1,170 |
| 3 Bedroom | $40 | $1,400 | $1,440 |
| 4 Bedroom | -$270 | $1,900 | $1,630 |
Affordability — Evansville, IN
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 2.9 |
| Median Home Price | $258,000 |
| Median Household Income | $77,000 |