Evansville, IN Rental Market
Evansville is southwestern Indiana's largest city, strategically positioned at the junction of Indiana, Illinois, and Kentucky. Deaconess Health System and Ascension St. Vincent are the city's largest employers, supported by Toyota's Indiana facility and a cluster of manufacturers. The University of Southern Indiana and University of Evansville add student demand. Very affordable home prices generate strong gross yields for patient investors.
Get a rent estimate for an address in EvansvilleAverage Rent in Evansville, IN
$880
per month · 2026-06
Market Score
Key Facts — Evansville, IN Rental Market
- Average rent in Evansville, IN:$880/mo
- Median rent:$810/mo
- Rent range:$450 – $1,950/mo
- Most common rental (2 bedrooms):$775/mo
- Active listings:680
- Avg days to lease:38 days
- Year-over-year change:+2.5%
- Median home value:$145,000
- Est. gross annual yield:7.3%
- Data as of:2026-06
Rent by Bedroom in Evansville, IN
Average monthly rent for each bedroom type based on current active listings in Evansville.
| Bedroom Type | Avg Rent/mo |
|---|---|
1 Bedroom | $625/mo |
2 Bedrooms | $775/mo |
3 Bedrooms | $975/mo |
4 Bedrooms | $1,225/mo |
5 Bedrooms | $1,400/mo |
Evansville Rental Market Statistics
Key indicators from the current Evansville, IN rental market.
680
Available now in Evansville
38
From list to lease
$0.73
Average across listings
1,200 sq ft
Typical rental size
$450 – $1,950
Min to max active listings
+2.5%
Avg rent vs. prior year
Investing in Evansville, IN Rental Properties
Estimated returns based on current market rents and median home values. Perform full due diligence before investing.
Median Home Value
$145,000
Typical purchase price in Evansville
Est. Gross Annual Yield
7.3%
Before expenses & vacancy
Avg Monthly Income
$880
At average market rent
Gross yield = (avg rent × 12) ÷ median home value. Does not include expenses, financing, vacancies, or management fees. Analyze a specific property in Evansville for a full cash-flow breakdown including all costs.
Evansville, IN Rental Market FAQ
Common questions about renting and investing in Evansville, IN.
What is the average rent in Evansville, IN?
The average rent in Evansville, IN is $880 per month as of 2026. One-bedroom apartments average $625/mo, two-bedrooms $775/mo, and three-bedroom homes $975/mo — making Evansville one of the most affordable larger rental markets in the Midwest.
Is Evansville, IN a good place to invest in rental property?
Evansville offers an estimated 7.3% gross annual yield with very low acquisition costs (median home ~$145,000). Healthcare and manufacturing employment provide a stable tenant base. Best suited for investors focused on cash flow in a lower-cost, smaller market.
How competitive is the Evansville, IN rental market?
Evansville averages 38 days on market with approximately 680 active listings. The market is less competitive than Indianapolis, giving tenants more choices. Properties near healthcare campuses and university corridors tend to lease faster than suburban or outlying areas.
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