Real Estate Investing in Evansville, Indiana (47710)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 47710 (Evansville, IN)? Our answer, based on the numbers below.
Solid choice — values are growing steadily and the market is stable enough to buy with confidence.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
- Elevated vacancy: 10.0% vacancy may signal weakening demand.
What’s happening in Evansville, IN (47710)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 47710 Evansville
The 47710 ZIP covers a section of Evansville that demands careful diligence. Prices near $161K look accessible, but the work to make a deal cash flow is real.
If the plan assumes clean turnover, on-time rent, and low maintenance on a $161K asset, 47710 is the wrong submarket. If the plan prices in friction, the yield can still work.
Statewide comparisons place 47710 among IN's softer markets. That context does not make the ZIP uninvestable, but it does raise the bar for due diligence.
The 47710 ZIP's population of 18,802 has faced economic pressure over the last decade. That pressure shows up in rent delinquency patterns that posts the need for careful underwriting.
tilts 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:
Property Strategy for 47710
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 1BR | $48,597 | $800 | 11.9% | +7.4% | $48,597 |
| 2BR | $86,391 | $1,040 | 8.7% | +6.2% | $43,196 |
| 3BR | $166,743 | $1,280 | 5.5% | +7.7% | $55,581 |
| 4BR | $221,818 | $1,440 | 4.7% | +7.7% | $55,454 |
| 5BR | $249,145 | — | — | +7.0% | $49,829 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 47710 Compare?
| Metric | 47710 | Evansville | Evansville, IN-KY | Indiana |
|---|---|---|---|---|
| Home Value | $161,196 | $59,067 | N/A | $248,442 |
| 5-Year CAGR | 7.2% | 6.1% | N/A | 7.7% |
| Avg Rent | $811 | $1,137 | N/A | - |
| Cap Rate | 3.9% | 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 47710 (Evansville, IN). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $161,196 |
| Monthly Rent | $811 |
| Price-to-Rent | 16.6:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 6.0% |
| Cap Rate | 3.9% |
| 5-Year IRR | 11.1% |
📈 Home Appreciation
| 1-Year | +8.6% ▲ |
| 3-Year CAGR | +7.2% ▲ |
| 5-Year CAGR | +7.2% ▲ |
| 10-Year CAGR | +7.7% ▲ |
🏠 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 (3.9%). 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 47710
Population: 18,802
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 47710
Schools in This ZIP Code
Nearby Schools (5 more)
Schools in adjacent ZIP codes that may serve this area
Academy for Innovative Studies
Delaware Elementary School
Stringtown Elementary School
Evans School
Vogel Elementary School
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 918 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
What is the rental occupancy rate in Evansville, IN?
Evansville, IN vacancy trends elevated. Investors running standard buy-and-hold plays see reasonable downtime between tenants.
Is Evansville, IN a good market for FHA house hackers?
Evansville, IN is a a challenging market for house hackers. FHA or conventional owner-occupant buyers find the $161K price point reasonable to enter.
What strategy should investors use in Evansville, IN?
Investors usually favor careful cash-flow rentals with hands-on management in Evansville, IN. With home values at $161K and rents near $811/mo, other strategies can work but produce measured rather than outsized returns.
What is the average home sale price in Evansville, IN?
Expect median prices around $161K in Evansville, IN. The market has run at a 0.0% 5-year CAGR, so entry costs have been measured.
Where do rents currently stand in Evansville, IN?
Investors in Evansville, IN typically see rents near $811/mo per month against $161K home values - a solid setup for rental cash flow.
You know 47710 now. You don’t know where it ranks.
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How 47710 ranks in Evansville, IN-KY
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