Data through September 2026 · updated 2026-11-07 · free, from Zillow, Realtor.com, the Census Bureau and other public sources
Typical home value$225,370+3.9% YoY · prices are rising fast
Market right nowBalanced, leaning buyersMore homes for sale than last year, 28% have cut their price
Income needed to buy, per year$48,855About 0.7× the local median income ($69,834): affordable for a typical household
Days on market53 daysSlower than a year ago: buyers have time to negotiate
Next 12 months+2.9%Zillow expects prices to rise slightly
The typical home in Evansville, IN is worth $225,370, up 3.9% from a year ago. That is well above what local incomes have historically supported: fair value is about $188,915, so the area is 19.3% overvalued. It is a balanced market, leaning toward buyers: homes take about 53 days to sell, listings are up 10% from a year ago, 28% of listings have had a price cut. Zillow expects prices to rise about 2.9% over the next year. A household needs about $48,855 a year to afford the typical home here at today's 7.18% mortgage rate (20% down, payment at 30% of income); the median household earns $69,834. Typical rent is $1,098 a month, or $1,175 for a house. In the latest IRS figures, 180 more people moved in than out.
Home value over time
Solid: typical home value · dashed: fair value (household income × the 20-year average price-to-income ratio). Sources: FHFA, Zillow, U.S. Census Bureau.
Prices and affordability
Typical home value
$225,370
Change in 1 year
+3.9%
Overvalued %
+19.3%
Show 7 more
Fair home value
$188,915
Change in 5 years
+29.4%
Zillow forecast, next 12 months
+2.9%
Home value to income
3.2×
Monthly mortgage payment (20% down)
$1,221
Income needed to afford it
$48,855
Property tax rate
0.74%
Rent and investing
Typical rent
$1,098
Typical rent for houses
$1,175
Price-to-rent ratio
17.1×
Show 3 more
HUD Fair Market Rent, 2 bedrooms
$1,127
Gross rental yield
5.85%
Cap rate (estimate)
3.80%
Market activity
Listings vs a year ago
+9.5%
Days on market
53
Listings with a price cut
27.8%
Show 3 more
Homes for sale
861
Pending sales per 100 listings
34
Asking price per sq ft
$143
People and jobs
Median household income
$69,834
Population change (1 year)
+0.5%
Unemployment rate
3.7%
Show 4 more
Population
273,786
Income adjusted for cost of living
$76,321
Net moves in (IRS)
+180
Cost of living (US = 100)
91.5
Schools, risk and environment
School rating (1 to 10)
6.1
FEMA hazard risk score (0 to 100)
80.8
Unhealthy air days a year
0
Show 4 more
Flood risk score
81.2
Wildfire risk score
29.8
Walkability (1 to 20)
7.0
Road, rail and air noise
54 dB
Questions people ask
Is Evansville, IN overvalued?
Home prices in Evansville, IN are well above what local incomes have historically supported: fair value is about $188,915, so the area is 19.3% overvalued.
Is Evansville, IN a buyer's or seller's market?
Evansville, IN is a balanced market, leaning toward buyers: homes take about 53 days to sell, listings are up 10% from a year ago, 28% of listings have had a price cut.
Are home prices going down in Evansville, IN?
Home values in Evansville, IN are up 3.9% over the last year. Zillow's forecast for the next 12 months is +2.9%.
How much do you need to earn to buy a home in Evansville, IN?
A household needs about $48,855 a year to afford the typical home in Evansville, IN at today's 7.18% mortgage rate (20% down, payment at 30% of income); the median household earns $69,834.