Evansville housing market
Typical home value
$225K
▲ 3.9% 1 yr
Typical rent
$1,098/mo
▲ 2.5% 1 yr
12-month forecast
+2.9%
#147 of 546 metros
Gross rent yield
5.8%
#286 of 546 · U.S. 6.3%
Days to pending
37 days
▲ +4 days 1 yr
Listings with a price cut
33%
▲ +2.7 pts 1 yr
Key takeaways
- 1The typical home is worth $225,370, up 3.9% in a year and up 29% over five years.
- 2Zillow forecasts home values rising 2.9% over the next 12 months (U.S.: +1.1%).
- 3Typical rent is $1,098/mo (+2.5% YoY), a 5.8% gross yield, below the U.S. 6.3%.
- 4At 7.32% with 20% down, the typical home costs $1,239/mo in principal and interest, $141 more than renting.
- 5Homes go under contract in 37 days (+4 days vs last year); 33% of listings have had a price cut.
Market temperature
Buyer's market
Buyer'sNeutralSeller's
Zillow Market Heat Index: 38/100, #317 hottest of 546 metros. Below 44 favors buyers; above 55 favors sellers.
Home values and rent
How fast homes are selling
For saleNew listings
Affordability
To buy (20% down)To rent
Source: Zillow Research (ZHVI, ZORI and market activity data).
How Evansville compares
| Measure | Evansville | United States | Rank of 546 |
|---|---|---|---|
| Home value, 1-yr change | +3.9% | +1.2% | #127 |
| Home value, 5-yr change | +29.4% | +19.7% | |
| 12-month forecast | +2.9% | +1.1% | #147 |
| Rent, 1-yr change | +2.5% | +2.7% | #353 |
| Gross rent yield | 5.8% | 6.3% | #286 |
| Price-to-rent ratio | 17.1 | 15.8 | |
| Mortgage P&I on typical home | $1,239 | $2,012 | |
| Income needed to buy | $62,830 | $100,902 | |
| Days to pending | 37 | 56 |
Cities in the Evansville metro
1 cities with home value and rent data.
| Evansville | $204K | ▲ 4.3% | $1,058 | ▲ 2.9% | 6.2% |
Run the numbers
Rental property calculator
Cash flow on a typical Evansville rental ($225K, $1,098/mo), pre-filled.
Mortgage calculator
Monthly payment on a typical Evansville home.
Rent vs buy
Is it cheaper to rent or buy in Evansville?
Other Indiana metros
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$292K home$1,528 rent6.3% yield
▲ 1.0% 1 yr
Fort Wayne, IN
$257K home$1,266 rent5.9% yield
▲ 3.6% 1 yr
South Bend, IN
$238K home$1,258 rent6.4% yield
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Lafayette, IN
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Elkhart, IN
$266K home$1,182 rent5.3% yield
▲ 5.5% 1 yr
Terre Haute, IN
$166K home$977 rent7.1% yield
▲ 1.4% 1 yr
Bloomington, IN
$297K home$1,746 rent7.1% yield
▲ 1.6% 1 yr
Muncie, IN
$169K home$1,043 rent7.4% yield
▲ 4.3% 1 yr
Gross yield = 12 × typical rent ÷ typical home value, before expenses. Mortgage estimate: 20% down, 30-year fixed at the current Freddie Mac average, principal and interest only. Forecast: Zillow Home Value Forecast. Data refreshed Oct 26, 2026.