What is the typical home value in Evansville - IN?

The typical home in Evansville - IN, IN is worth $225,370 as of the most recent Zillow Home Value Index reading. Year over year the value has changed by +3.9%.

How long do homes stay on the market in Evansville - IN?

The median days to pending (time on market before a sale) in Evansville - IN is currently 16 days. Shorter days on market indicate a seller's market; longer days indicate more buyer leverage.

Are sellers cutting prices in Evansville - IN?

33.2% of active listings in Evansville - IN have had a price reduction. This is a signal of softening seller expectations relative to buyer demand.

Is it cheaper to rent or buy in Evansville - IN?

The price-to-rent ratio in Evansville - IN is 17.1x (typical home value divided by a year of typical rent), which puts it in toss-up on the Rent vs Buy Index. Typical rent is $1,098 a month versus a principal-and-interest mortgage payment of about $1,248 on the typical home at 7.4% with 20% down.

What income do you need to buy a home in Evansville - IN?

About $65,600 a year in household income, assuming 20% down ($45,074), a 30-year fixed mortgage at 7.4%, property tax and insurance, and a 28% payment-to-income cap. The monthly payment works out to about $1,530.

Is Evansville - IN a buyer's or seller's market?

Based on days-on-market, price-cut share, and year-over-year appreciation, Evansville - IN is currently a balanced market. Buyers should watch days-on-market and price-cut trends monthly.

IN · Metro #165

Evansville - IN housing market

The Evansville metro has a typical home value of $225,370, up 3.9% from a year ago. Homes are moving fast at 16 days on market, a strong seller's market. 33% of listings have had a price cut. Data from Zillow Research, updated monthly.

Typical home value

$225,370

+3.9% vs. year ago

Median sale price

$222,722

+0.5% YoY

Median list price

$250,933

Sale-to-list ratio

97.4%

Selling below ask

Days on market

16d

Listings w/ price cut

33.2%

New listings / mo

411

-8.7% YoY

Homes for sale

1,213

+4.1% YoY

Typical rent

$1,098/mo

+2.6% YoY

Income needed to buy

$65,600

$1,530/mo · #31 of 195

Rent vs buy

17.1x

Toss-up · #93 of 195

October 2026 report · Zillow data through September 2026

Evansville housing market, October 2026

The typical Evansville home is worth $225,370 as of September 2026, up 0.2% from the prior month, up 0.9% over three months, and up 3.9% from a year ago. Over the past two years values have ranged from $208,427 to $225,370.

Homes are going pending in about 16 days, slower than the 13 days seen three months earlier. There are roughly 1,213 homes for sale, 4% more than a year ago. 33.2% of listings have taken a price cut (up from 25.2% three months ago).

Typical rent is $1,098 a month, up 2.6% year over year, which puts the price-to-rent ratio at 17.1.

At this week's 7.40% mortgage rate with 20% down ($45,074), the typical Evansville home costs about $1,530 a month including tax and insurance, which needs a household income of roughly $65,600 to stay under a 28% payment-to-income ratio.

Typical home value, 24 months

Days to pending, 24 months

Homes for sale, 24 months

Income needed to buy assumes 20% down, a 30-year fixed mortgage at 7.4% (Freddie Mac weekly average), property tax at 1.1% and insurance at 0.4% of value per year, and a 28% payment-to-income cap. Local taxes and insurance vary; treat it as a comparison figure across metros, not a lender's answer. All metros ranked →

Context

How to read this data

The typical home value ($225,370) is the Zillow Home Value Index for the Evansville - IN metro area: a smoothed, seasonally adjusted estimate of the typical value for middle-tier homes (33rd to 67th percentile) across single-family and condo properties.

Prices are up 3.9% over the past year. In Evansville - IN, that means a home worth $216,910 last year is now worth roughly $225,370.

The median sale price, what homes actually close for, is $222,722. Homes are selling at 97.4% of list price, meaning buyers have room to negotiate.

Homes listed in Evansville - IN sit on the market for roughly 16 days before going pending. Shorter = seller's market; longer = buyer's market.

About 33.2% of current listings have had at least one price cut. High price-cut shares signal sellers are adjusting expectations downward.

Roughly 411 new listings hit the market each month in Evansville - IN. There are currently 1,213 homes for sale, up 4.1% from a year ago.

The typical monthly rent in Evansville - IN is $1,098, up 2.6% year over year. On the Rent vs Buy Index that is a price-to-rent ratio of 17.1x, toss-up (#93 of 195 metros). The mortgage on a typical home here, 20% down at today's 7.4% 30-year rate, runs about $1,248 a month in principal and interest, $150 more than renting before taxes, insurance and upkeep. The two break even at a 6.15% rate.