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Market MapEvansville, IN
Metropolitan Area

Evansville, IN

Indiana05 counties
68
/100
Buy
#257 of 894 metros
Top 29% nationally for investing

Market Snapshot

$215,725
Median Home Price
12% below national median
$1,059/mo
Median Rent
24% below national median
5.89%
Rent-to-Price Ratio
Top 54% nationally
-$442
Est. Monthly Cash Flow
With 20% down at 6.9% rate

Price History

Trend based on YoY growth rate. Source: Zillow ZHVI/ZORI

Quick Investment Calculator

20%
5%50%100%

Purchase

Purchase Price$215,725
Down Payment (20%)$43,145
Loan Amount$172,580
Interest Rate6.85%

Monthly Cash Flow

Gross Rent+$1,059
Monthly P&I-$1,131
Est. Expenses (35%)-$371
Net Cash Flow-$443/mo
3.8%
Cap Rate (all cash)
-10.7%
Cash-on-Cash Return
5.89%
Rent-to-Price Ratio
Negative leverage: At 6.85% rates, borrowing costs exceed the 3.8% cap rate. All-cash buyers may see better returns.

* Based on metro-wide median values. 35% expenses include taxes, insurance, maintenance, vacancy, and property management. Individual counties and properties vary significantly.

Run Full AnalysisTry House Hack Strategy

Score Breakdown

Overall Investment Score
68/100
68
Cash Flow(30%)
58/100

Based on 5.89% rent-to-price ratio. Higher ratios indicate stronger cash flow potential.

Appreciation(25%)
84/100

Based on 4.0% YoY price growth. Moderate growth (3-8%) scores highest.

Stability(25%)
50/100

Based on 0.0% population growth. Growing areas indicate economic stability.

Affordability(20%)
84/100

Based on price relative to estimated local incomes.

Scores are calculated using real Zillow metro-level home value and rent data, Census population data, and economic indicators. The weighted average produces the overall investment score. This metro score represents area-wide averages; individual counties may vary significantly.

Investment Outlook

Strengths

  • +Affordable relative to local incomes
  • +Low unemployment (0.0%)
  • +Large metro with 5 counties offering diverse opportunities

Challenges

  • -Negative cash flow at typical financing (-$442/mo)
  • -Negative leverage (cap rate 3.8% < mortgage rate 6.9%)

Counties in Evansville, IN

Best Overall
Posey
IN - Score: 76
Best Cash Flow
Daviess
KY - Score: 71
Most Affordable
Henderson
KY - Score: 62
Verdict
PoseyIN
25,22676$232,138Est.Strong BuyView
GibsonIN
33,00675$201,074Est.Strong BuyView
DaviessKY
102,91671$205,842$1,3097.63%BuyView
WarrickIN
64,06569$281,394$1,4316.10%BuyView
HendersonKY
44,77062$194,396Est.BuyView

Click any county to see detailed investment analysis

Compare to Similar Metros

Metro AreaVerdict
Decatur, IL
Decatur, IL
85$118,242$1,02110.36%Strong BuyView
Connersville, IN
Connersville, IN
82$158,083Est.Strong BuyView
Paducah, KY
Paducah, KY
82$165,710$1,2919.35%Strong BuyView
Indiana, PA
Indiana, PA
82$158,790$1,37610.40%Strong BuyView
Enid, OK
Enid, OK
81$137,435$1,0769.39%Strong BuyView
Current
Evansville, IN
68$215,725$1,0595.89%Buy

The Bottom Line

BuyEvansville, IN offers solid investment potential with good cash flow or appreciation prospects.

The Evansville, IN metro area scores 68/100, ranking #257 of 894 US metros (top 29%). The 5.89% rent-to-price ratio may require targeting specific counties or creative strategies for positive cash flow. Among 5 counties, Posey shows the strongest investment potential (score: 76). Current metro-wide averages make traditional buy-and-hold investing challenging. Consider house hacking, value-add strategies, or drilling down to specific counties.

Monthly Cash Flow
$-442/mo
Cap Rate
3.8%
Cash-on-Cash
-12.3%

Ready to Invest in Evansville, IN?

Use our investment calculators to run detailed numbers on specific properties, or explore individual counties for more targeted opportunities.

Single Family1-4 unit rentalsHouse HackOwner-occupiedMultifamily5+ unit propertiesBest CountyPosey
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