Market Overview
Home Prices in Evansville, IN
The median home value in Evansville, IN is $206,632 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's up 3.9% compared to a year ago and up 4.1% from two years prior.
Compared to the U.S. national median of $410,000, homes in Evansville are priced50% below average. Evansville is part of the Evansville, IN-KY metro area.
Over the past five years, Evansville home values have risen by approximately32.2%, reflecting strong long-term appreciation in this market.
Price History
Evansville Home Price Trend
City Comparison
Evansville vs. National Median
At $206,632, homes in Evansville cost 50% below the national median of $410,000. This makes Evansville a relatively affordable market for buyers seeking value.
Affordability
What Does It Cost to Buy in Evansville?
20% Down Payment
$41,326
on $206,632
Monthly P&I
$1,078/mo
30-yr @ 6.8%
Total Monthly Est.
~$1,369/mo
incl. taxes & insurance
Income Needed
$54,760
gross annual (30% rule)
10% Down Option
$20,663
+ PMI applies
Loan Amount (20% dn)
$165,306
at current rates
Estimates assume a 30-year fixed mortgage at 6.8%. Monthly total includes estimated property taxes and homeowner's insurance. Actual costs vary.
FAQ
Frequently Asked Questions
What is the average home price in Evansville, IN?
The median home value in Evansville is $206,632 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's up 3.9% year-over-year.
How much have home prices changed in Evansville?
Over the past year, home values in Evansville have increased by 3.9%. Over five years, prices have risen approximately 32.2%.
How much do I need to earn to buy a home in Evansville?
To comfortably afford the median home price of $206,632 with a 20% down payment ($41,326) at today's rates (6.8%), you'd need a gross annual income of approximately $54,760. This assumes keeping total housing costs at or below 30% of gross income.
How does Evansville compare to the national average home price?
The national median home value is approximately $410,000. At $206,632, homes in Evansville are 50% below the national average.
What metro area is Evansville part of?
Evansville is part of the Evansville, IN-KY metropolitan area. Home prices and market conditions can vary across the broader metro region.