Real Estate Investing in Evansville, Indiana (47708)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 47708 (Evansville, IN)? Our answer, based on the numbers below.
Multiple negative signals. Better options likely exist nearby.
A cash-flow market — rent-to-price math works from day one, though value growth is modest. Great for income-focused investors.
- High vacancy: 24.2% of homes vacant — above national norms.
- Higher unemployment: 7.8% unemployment — tenant risk signal.
• Limited market data — this is a very small market; averages are built from few observations and can swing widely.
What’s happening in Evansville, IN (47708)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 47708 Evansville
ZIP 47708 inside Vanderburgh County looks affordable on the surface — median value of $234K — but the discount exists for reasons that a careful buyer should understand before committing.
Distressed does not mean uninvestable. It means the margin for error is thinner. ZIP 47708 rewards the prepared, punishes the overconfident, and leaves the math unchanged either way.
The gap between 47708 and stronger Evansville ZIPs is not closing quickly. Investors should weight long-horizon assumptions accordingly.
The demographic picture in 47708 includes headwinds that any investor should price in. Income distribution skews lower than Evansville averages, and tenant stability requires active management.
trends toward the ZIP is not uninvestable, but it is unforgiving. Section 8 landlords, local operators, and specialized value-add funds are the investor types that tend to succeed.
Here's what matters if you're considering buying a home in Evansville:
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 47708 Compare?
| Metric | 47708 | Evansville | Evansville, IN-KY | Indiana |
|---|---|---|---|---|
| Home Value | $234,175 | $59,067 | N/A | $248,442 |
| 5-Year CAGR | N/A | 6.1% | N/A | 7.7% |
| Avg Rent | $1,542 | $1,137 | N/A | - |
| Cap Rate | 5.1% | 4.6% | - | - |
Similar ZIPs Within 25 Miles
Compare other nearby markets to see if a neighbor offers a better fit.
Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 47708 (Evansville, IN). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $234,175 |
| Monthly Rent | $1,542 |
| Price-to-Rent | 12.7:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 7.9% |
| Cap Rate | 5.1% |
| 5-Year IRR | 6.0% |
📈 Home Appreciation
| 1-Year | -2.9% ▼ |
| 3-Year CAGR | +0.9% ▲ |
| 5-Year CAGR | N/A |
| 10-Year CAGR | N/A |
🏠 Rent Trends
| 1-Year | N/A |
| 3-Year CAGR | N/A |
| 5-Year CAGR | N/A |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (5.1%). Financing reduces your cash-on-cash return below the cap rate. Markets like this may still make sense as IRR plays — factoring in appreciation, depreciation, and a future refinance when rates drop.
Run an IRR Analysis →⚠️ Risk Signals
Composite view of factors that can impact a ZIP's stability and your downside risk.
Demographics in 47708
Population: 636
Crime & Safety
Crime & Safety Data Coming Soon
We're integrating comprehensive crime statistics including violent crime rates, property crime, and safety scores to help you make informed investment decisions.
Expected: Q1 2025
🎓 Schools in 47708
Schools in This ZIP Code
Nearby Schools (3 more)
Schools in adjacent ZIP codes that may serve this area
Glenwood Leadership Academy
Lincoln School
Culver Family Learning Center
About Repit School Scores
Traditional school ratings rely heavily on standardized test scores, which often reflect family income more than school quality. Repit takes a different approach.
We evaluate schools based on factors that research shows actually impact educational outcomes:
- Class Size — Smaller classes mean more individual attention
- School Funding — Resources available for programs, staff, and facilities
- Community Factors — Neighborhood characteristics that influence student success
- School Environment — Size, type, and structure
Scores are updated annually using federal education data.
🎓 Nearby Colleges & Universities
Investor Insight: With 1,904 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
How does Evansville, IN stack up for property investment?
Evansville, IN rates 2.0/5 for investability. With median values at $234K and rents near $1,542/mo, the market offers reasonable fundamentals for rental investors.
How should investors approach Evansville, IN?
The best-fit strategy in Evansville, IN is careful cash-flow rentals with hands-on management. That approach the rent and price profile of the market.
Are rents high in Evansville, IN?
The typical rental in Evansville, IN commands about $1,542/mo monthly. That rent profile reliable cash flow against the $234K purchase basis.
Does house hacking make sense in Evansville, IN?
The house hack math a challenging in Evansville, IN. Owner-occupant buyers benefit from the $1,542/mo rents and $234K home values.
Are tenants stable in Evansville, IN?
Tenant demand in Evansville, IN is solid. The local workforce $1,542/mo rents across most rental classes.
You know 47708 now. You don’t know where it ranks.
This page stays free — all of it. What one page can’t tell you is how 47708 compares to every other market. Investor ($19/mo) screens every U.S. ZIP by cap rate, the 1% rule, vacancy and landlord climate, and exports your shortlist.
How 47708 ranks in Evansville, IN-KY
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