Real Estate Investing in Evansville, Indiana (47711)
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Should you buy in 47711 (Evansville, IN)? Our answer, based on the numbers below.
Mixed signals — some positives, some negatives. Worth considering but not a slam-dunk.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
- Elevated vacancy: 10.1% vacancy may signal weakening demand.
What’s happening in Evansville, IN (47711)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 47711 Evansville
ZIP 47711 in Evansville, IN carries a solid set of headwinds. Home values near $191K and rents of $942/mo sit inside a market where underwriting has to be tight.
For an experienced owner, 47711 can be a a solid fit for hunting ground — but the discount at $191K reflects genuine risk that outside investors often underestimate.
Meanwhile, 47711 offers a low basis, the region around Evansville has moved on in ways that the ZIP itself has not fully absorbed. The result is a discount with genuine reasons.
The demographic picture in 47711 includes headwinds that any investor should price in. Income distribution skews lower than Evansville averages, and tenant stability requires active management.
Distressed ZIPs reward experience. impressive returns are possible in 47711, but they flow to investors who already understand how to operate in soft markets.
Here's what matters if you're considering buying a home in Evansville:
Property Strategy for 47711
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 1BR | $60,129 | $880 | 10.5% | +7.1% | $60,129 |
| 2BR | $112,199 | $1,140 | 7.3% | +8.3% | $56,100 |
| 3BR | $223,659 | $1,400 | 4.5% | +7.8% | $74,553 |
| 4BR | $308,098 | $1,580 | 3.7% | +7.3% | $77,024 |
| 5BR | $342,716 | — | — | +6.8% | $68,543 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 47711 Compare?
| Metric | 47711 | Evansville | Evansville, IN-KY | Indiana |
|---|---|---|---|---|
| Home Value | $191,452 | $59,067 | N/A | $248,442 |
| 5-Year CAGR | 5.8% | 6.1% | N/A | 7.7% |
| Avg Rent | $942 | $1,137 | N/A | - |
| Cap Rate | 3.8% | 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 47711 (Evansville, IN). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $191,452 |
| Monthly Rent | $942 |
| Price-to-Rent | 16.9:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 5.9% |
| Cap Rate | 3.8% |
| 5-Year IRR | 9.6% |
📈 Home Appreciation
| 1-Year | +6.1% ▲ |
| 3-Year CAGR | +4.8% ▲ |
| 5-Year CAGR | +5.8% ▲ |
| 10-Year CAGR | +6.6% ▲ |
🏠 Rent Trends
| 1-Year | +5.7% ▲ |
| 3-Year CAGR | +6.4% ▲ |
| 5-Year CAGR | N/A |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (3.8%). 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 47711
Population: 30,793
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 47711
Schools in This ZIP Code
Nearby Schools (4 more)
Schools in adjacent ZIP codes that may serve this area
Cedar Hall Community School
Thompkins Middle School
Central High School
Highland 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
Are rents high in Evansville, IN?
The typical rental in Evansville, IN commands about $942/mo monthly. That rent profile consistent cash flow against the $191K purchase basis.
What is the tenant pool like in Evansville, IN?
Evansville, IN offers a measured renter base at the $942/mo rent level. Tenant turnover is reasonable for well-managed properties.
Can I house hack in Evansville, IN?
For house hackers, Evansville, IN is a challenging. The $942/mo rent on a unit helps defray the mortgage on a $191K property.
What is the best play in Evansville, IN?
Investors usually favor careful cash-flow rentals with hands-on management in Evansville, IN. With home values at $191K and rents near $942/mo, other strategies can work but produce even-keeled rather than outsized returns.
How do home values compare in Evansville, IN?
Evansville, IN median home values land near $191K. That is reasonable territory for investors looking at $942/mo-per-month rentals.
You know 47711 now. You don’t know where it ranks.
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How 47711 ranks in Evansville, IN-KY
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