Evansville, IN Housing Market
AI-powered market intelligence for the Evansville, IN metro area.
PropertyIQ Scores
Evansville, IN Market Analysis
Market Overview
Evansville presents a moderate housing market, as reflected by its PropertyIQ Score of 56 out of 100. The score is driven by a mix of signals: a 12-month home value momentum of 7.73%, a 3-month momentum of -0.24%, a median days on market of 45 days, and a 24.3% share of listings with a price cut. These figures point to a market that has seen earlier appreciation but is now cooling or flattening.
Compared with Indiana state averages, Evansville offers relative affordability. The median home value is $228,373, roughly $32,400 below the state median of $260,808. The rent index is $1,120, which is $100 above the state average of $1,020. The local unemployment rate is 3.2%, slightly better than the state’s 3.3%, while median household income is $67,671, about $2,400 below the state median of $70,051. Inventory stands at 696 homes for sale, though no state benchmark is provided for comparison. Population growth data is not available, so demographic-driven demand cannot be assessed.
Overall, Evansville’s market is moderate: below-state home values and low unemployment provide support, while cooling price momentum and a notable share of price cuts temper expectations.
Key Trends
First, home value momentum is cooling. The 12-month momentum of 7.73% shows prior appreciation, but the 3-month momentum of -0.24% and the year-over-year median home value change of -$7 indicate that price growth has essentially stalled or slightly reversed in the near term.
Second, the market is becoming more buyer-friendly. A median days on market of 45 days and a 24.3% share of listings with price cuts suggest sellers are adjusting prices and buyers have room to negotiate. With 696 homes for sale, inventory appears to offer some selection.
Third, affordability remains a relative strength. The median home value of $228,373 is below the state median of $260,808, while median household income of $67,671 is only slightly below the state median of $70,051. This makes Evansville’s price-to-income relationship more favorable than the state average.
Fourth, rental economics look comparatively supportive. The rent index of $1,120 is $100 above the state average of $1,020, and the unemployment rate of 3.2% is slightly better than the state’s 3.3%. This may support investor interest, though the missing population growth data limits conclusions about future rental demand.
Who Is This Market For
This market suits first-time buyers and budget-conscious households. The median home value of $228,373 is about $32,400 below the state median, and with a median 45 days on market and 24.3% of listings with price cuts, buyers may have negotiation power.
Rental property investors may also find Evansville appealing because the rent index of $1,120 is $100 above the state average and unemployment is low at 3.2%. The 696 homes for sale and the share of listings with price cuts could create acquisition opportunities. However, move-up buyers may face limited equity growth given the 3-month price momentum of -0.24% and the -$7 year-over-year home value change. Short-term flippers are less aligned with this market’s cooling price trend.
Outlook
The near-term outlook is for a stable, moderate market with limited price growth. The 12-month home value momentum of 7.73% shows past appreciation, but the 3-month momentum of -0.24% and the -$7 year-over-year change indicate recent flattening. With a median of 45 days on market and 24.3% of listings with price cuts, conditions are likely to remain more favorable to buyers than sellers in the short term. Unemployment of 3.2% and a rent index of $1,120 above the state average provide underlying support. However, the absence of population growth data leaves longer-term demand uncertain. Based solely on the provided metrics, Evansville appears positioned for steady, moderate conditions rather than rapid appreciation or decline.
AI-generated analysis based on current market data. Last updated August 20, 2026.
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Evansville, IN market data
Evansville, IN Housing Market Overview
Evansville, IN's median home value is $228K, up 7.7% over the past year. Homes here sell in a median 45 days. Its PropertyIQ Score of 56 sits right around the state average of 50.
Whether you're considering buying a home, investing in rental property, or weighing entry timing in the Evansville, IN area, the PropertyIQ Score gives you a single, data-first read on relative market strength. It is validated against actual market outcomes from 2001 to 2023, with a positive score-to-return relationship in every validated year across IN and every other US state.
Midwestern housing markets are characterized by affordability and economic diversification. From manufacturing hubs undergoing tech-sector transitions to university towns with stable demand, the region offers value-oriented opportunities with lower entry costs than coastal markets. Within the Midwest, Evansville, IN's PropertyIQ Score of 56 tracks near the Midwest norm.
For the Evansville, IN market, PropertyIQ calculates a single score each month from four inputs: twelve-month Zillow home-value momentum, three-month Zillow home-value momentum, median days on market from Realtor.com, and the Realtor.com price-reduced share. The score is computed nationally across all metros and calibrated so 50 equals the state average. Across the validation history, metro markets in the top score band have outperformed their state by roughly 1.7 percentage points more per year than bottom-band markets. Momentum here has been positive, with home values up 7.7% over the past year.
View Evansville, IN's complete market profile including historical price trends, score history, and AI-generated analysis. Compare this market against any other US metro to find the best opportunities for your investment strategy.
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Market data through July 2026. Sourced from Zillow, Realtor.com, Redfin, U.S. Census Bureau, FRED, BLS, and BEA. Per-statistic source and date shown above.
Frequently Asked Questions
Is Evansville, IN a good place to buy real estate in 2026?
PropertyIQ doesn't label markets simply good or bad. Instead, the PropertyIQ Score measures a market's demand momentum against its own state, where 50 marks the state average. Evansville, IN currently scores 56, a steady-momentum reading that leaves it tracking close to its state average. For buyers, a balanced market means neither side holds a decisive edge, giving you time to shop carefully without racing the clock. Backing that up, the median home value here is $228K, up 7.7% over the past year. So whether Evansville, IN is right for you comes down to your goals: a rising-momentum market can favor long-term appreciation but offers less room to negotiate, while a cooling one hands buyers more leverage. Treat the score as a timing signal to weigh alongside your budget, holding period, and plans for the property, not a verdict on the market's quality.
What is the PropertyIQ Score for Evansville, IN?
Evansville, IN's PropertyIQ Score is 56, indicating steady momentum on a 1-to-99 scale. The score distills four transparent inputs into a single number: Zillow home-value momentum over the past 12 months, Zillow home-value momentum over the past 3 months, the median days homes spend on the market from Realtor.com, and the share of listings with a price cut, also from Realtor.com. Rising values and faster sales push the score up, while slow sales and frequent price cuts pull it down. The scale is calibrated so 50 equals the state average, meaning a score above 50 predicts the market will outperform its state over the next three years and a score below 50 predicts underperformance. PropertyIQ computes the score across every US market nationally, then recenters it against each state, so 56 places Evansville, IN above its state benchmark.
Are home prices in Evansville, IN rising or falling?
Home prices in Evansville, IN are rising. Over the past year, the median home value increased 7.7%, reaching $228K. Over the latest three months, values slipped 0.2%, a sign near-term demand is softening. PropertyIQ derives these figures from Zillow's home-value index, which tracks the typical value across the market rather than only the homes that happened to sell, giving a steadier read than a raw median sale price. Both the 12-month and 3-month momentum readings feed directly into the PropertyIQ Score, so this price trend is one of the core signals behind Evansville, IN's current score. Keep in mind that appreciation can vary widely by neighborhood and price tier across the metro area, so treat these figures as the market-wide baseline rather than a guarantee for any single property.
How quickly do homes sell in Evansville, IN?
In Evansville, IN, homes sell in a median of 45 days from listing to pending sale, based on Realtor.com market data. Median days on market is one of the clearest real-time reads on local demand: when homes move quickly, buyers are competing and sellers hold the advantage, while lengthening timelines signal cooling interest and more room to negotiate. Alongside sale speed, about 24% of active listings here have taken at least one price cut — a complementary demand gauge, since a rising share of reductions often precedes slower sales and softer prices. Both median days on market and the price-cut share feed directly into the PropertyIQ Score, where faster sales and fewer cuts push the score higher. As a general guide, medians under about 30 days indicate a brisk, competitive market, while medians well beyond 60 days point to buyers regaining leverage. Actual time on market still varies by price band, property type, and season, so treat the median as a market-wide baseline.
How current is this metro area data?
This Evansville, IN market data is refreshed on a monthly cycle, with the latest figures current through July 2026. PropertyIQ ingests fresh data every month from a range of authoritative sources: home values and rents from Zillow, days on market and price-cut activity from Realtor.com, additional housing signals from Redfin, demographic and housing-stock data from the U.S. Census Bureau, mortgage and macroeconomic series from FRED, and employment figures from the Bureau of Labor Statistics and the Bureau of Economic Analysis. The PropertyIQ Score itself is recomputed every month once the new source data lands, so the score and its four underlying inputs always reflect the most recent complete reporting period rather than a static snapshot. Because official housing data is typically released with a short lag, the current-through date usually trails the present by a few weeks, which is normal across the industry and not a sign the data is out of date.