Indiana · 186th largest metro area

Buying a home in Evansville, Indiana

In Evansville, the median value of owner-occupied homes is $143,100, Vanderburgh County's effective property tax rate is 0.8%, a purchase mortgage carried a median $3,497 in total loan costs in 2025, and median gross rent is $975 a month.

Data as of : Census ACS 2020-2024, Census Vintage 2024, HMDA 2025, HUD FY 2027. Sources

Evansville home costs, fact by fact

About Evansville

Evansville, Indiana, is a city of 115,395 residents in the Evansville, IN metro area, which ranks 186th among US metro areas. Median gross rent is $975 a month, and 54.6% of homes are owner-occupied.

Reading the Evansville figures

Evansville is among the lowest-priced cities in this Indiana comparison. The median home is valued by its owners at $143,100, against $255,200 for the whole state. Only South Bend, at $140,400, is lower among the cities named here. Higher up the scale, Fort Wayne reaches $188,900 and Indianapolis $224,800, before a steep climb through Fishers to Carmel.

Rent shows the same low position. Median rent is $975, under the $999 in Fort Wayne and the $1,033 in South Bend, with Indianapolis higher still. HUD puts the Evansville zone at $1,127, above the city's median rent, a difference to keep in view when you compare a lease with a purchase, since the benchmark is a HUD yardstick and not a market median.

Property tax is where Evansville reads favorably. Vanderburgh County's effective rate is 0.8%, and the median annual bill is $1,474, while the county's middle home is worth $184,000. Few buyers will find a gentler recurring tax cost in the figures shown here. Across 1,860 loans in 2025, the median cost was $3,497, but typical quotes ran from $2,778 up to $6,102, a wide spread that is worth probing with several lenders, because a quote near the top of the range would erase part of the savings from the low price. About 54.6% of homes are owner-occupied, the smallest share of any Indiana city listed here, against 74.3% in Carmel.

Calculate for Indiana

If you buy

Indiana state transfer tax

Indiana has no real estate transfer tax. Change the price: the amount is recalculated instantly.

Price$255,200
State transfer tax$0
Share of the price—

Default price: the Indiana median value of owner-occupied homes, $255,200 (Census ACS 2025). Rule: No tax is calculated on the price; the fees are flat. Who pays: Nobody pays a transfer tax. The county pages do not say who pays the fees; the purchase contract decides. Not included: county and city transfer taxes, recording fees, title insurance and lender charges. Indiana transfer tax guide · all 50 states.

If you sell

Capital gain and the federal tax on it

Same federal rule in every state: Section 121 of the Internal Revenue Code excludes up to $250,000 of gain on a main home ($500,000 for a married couple filing jointly).

Capital gain$350,000
Section 121 exclusion$250,000 (limit $250,000)
Taxable gain$100,000
Type of gainLong-term (owned over 1 year), 15% chosen
Federal tax on the gain$15,000

Section 121 excludes $250,000; the rest is taxable.

Gain = sale price minus your adjusted basis (purchase price, buying costs and improvements); selling expenses reduce it (IRS Publication 523). Long-term rates for sales in 2026, by taxable income including the gain (IRS Rev. Proc. 2025-32, section 4.03): 0% up to $49,450 single or $98,900 married filing jointly, 15% up to $545,500 single or $613,700 jointly, 20% above. Not included: Indiana state income tax on the gain (not computed), the net investment income tax, depreciation recapture on a rental or home office, and the reduced exclusion for an early sale. Agent commissions are negotiated and never set by law. Capital gains on a home sale.

Questions about buying a home in Evansville

How much is property tax in Evansville?

Homeowners in Vanderburgh County pay a median $1,474 a year in property tax, 0.8% of the county median home value of $184,000 (Census ACS 2020-2024). Your bill depends on your assessed value and local rates.

What are closing costs on a mortgage in Evansville?

Home-purchase mortgages in Vanderburgh County carried median total loan costs of $3,497 in 2025; half of the 1,860 loans fell between $2,778 and $6,102 (HMDA). Total loan costs are the lender and settlement-service charges of the Closing Disclosure; transfer taxes and prepaid items come on top.

Is there a transfer tax when you buy a home in Evansville?

Indiana has no real estate transfer tax in its tax code. A deed transfer costs flat fees instead; in Marion County that is $10 per parcel and $20 per sales disclosure form to the Assessor plus $35 per document to the Recorder.

Is it cheaper to rent or buy in Evansville?

It depends on your mortgage rate, down payment and how long you stay. As a benchmark, the median value of owner-occupied homes in Evansville ($143,100) equals 12.2 years of the median gross rent ($975 a month), both from Census ACS 2020-2024.

Run your own numbers: rent vs buy calculator · closing costs calculator.

Indiana rules that apply in Evansville

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Sources

Indiana · All states · Federal guides