Real Estate Investing in Evansville, Illinois
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Should you buy in Evansville, IL? Our answer, based on the numbers below.
Proceed carefully. Weak appreciation or affordability makes this a harder case for most buyers.
A cash-flow market — rent-to-price math works from day one, though value growth is modest. Great for income-focused investors.
- High vacancy: 18.9% of homes vacant — above national norms.
- Flat appreciation: Values have barely moved over 5 years (0.0% CAGR).
What’s happening in Evansville, IL?
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Market Trends — Evansville, IL
Home Value History
Investing in Evansville Real Estate
Evansville in Illinois is one of the markets where the numbers warn before they reward — 2 ZIPs, a sizable population, and a rating that reflects material risk.
Evansville is the kind of market where the cap rate on paper and the cap rate realized tend to diverge. decisively out-of-state investors should be especially careful with the assumptions they carry in.
The $842/mo / $136K relationship in Evansville looks thin once vacancy and capex are incorporated into underwriting. appears to the realized yield tends to disappoint.
The 0% renter share in Evansville masks uneven tenant quality across ZIPs, and $N/AK median income leaves little cushion against economic shocks.
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ZIP Codes in Evansville, IL
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View PlansFrequently Asked Questions About Evansville, IL
How does Evansville, IL rate as a rental market?
Investors tracking Evansville, IL will find a 2.0/5 rating supported by $136K median home values and $842/mo rents. That profile suits long-term holders targeting steady returns.
Should investors worry about vacancy in Evansville, IL?
Evansville, IL carries elevated vacancy risk. Expect measured absorption at market rents of $842/mo.
How strong are rents in Evansville, IL?
Rent in Evansville, IL is around $842/mo. The resulting rent-to-value relationship with $136K pricing is reasonable for most investor models.
What is it like being a landlord in Evansville, IL?
The landlord environment in Evansville, IL is landlord-friendly. Statewide rules shape most day-to-day operations for rental owners.
Are homes affordable in Evansville, IL?
Expect median prices around $136K in Evansville, IL. The market has run at a 0.0% 5-year CAGR, so entry costs have been steady.
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