Total monthly cost of ownership
Cost to Own a Home in Evansville, Indiana
A $129,000 home here costs
$1,148per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $663. The real number is $485 higher every month — 73% more than the payment most buyers budget for.
Where every dollar goes
Only the first line is a mortgage payment. Change any assumption above and every figure below recalculates.
Evansville against Vanderburgh County and Indiana
| Measure | Evansville | Vanderburgh County |
|---|---|---|
| Median home value | $129,100 | $172,300 |
| Median property tax | $1,097 | $1,420 |
| Effective tax rate | 0.850% | 0.824% |
| Median gross rent | $949 | $964 |
| Population | 116,441 | 179,908 |
The weather behind that power bill
Evansville sits in Vanderburgh County, which averages a high of 88.6°F in its hottest month and a low of 25.5°F in its coldest, with 47.91" of precipitation a year and 31% of it in a single three-month stretch. That climate drives 1,525 cooling and 4,340 heating degree days, which is what sets the $163 electricity line above.
See the full climate breakdown for Vanderburgh County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Vanderburgh County
Full Vanderburgh County cost breakdown · Every county in Indiana
Common questions
How much does it cost to own a home in Evansville?
A $129,000 home in Evansville, Indiana costs approximately $1,148 per month with 20% down at 6.66%. That is $663 principal and interest, $91 property tax, $55 homeowners insurance, $231 utilities and $108 set aside for maintenance.
What is the property tax rate in Evansville?
Evansville has an effective property tax rate of 0.850%, based on a median home value of $129,100 and median real estate taxes of $1,097. That is higher than the Vanderburgh County average of 0.824%.
What is the average home price in Evansville?
The median owner-occupied home value in Evansville, Indiana is $129,100, against $172,300 across Vanderburgh County.
Is it cheaper to rent or buy in Evansville?
Median gross rent in Evansville is $949 a month, against $1,148 to own the median home all in. Renting costs less month to month here, though renting builds no equity.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Evansville — US Census Bureau, American Community Survey ACS 2023 5-Year, place-level tables.
- Homeowners insurance — NAIC average premium for Indiana.
- Electricity price — EIA Electric Power Monthly Table 5.6.A.
- Mortgage rate — Freddie Mac PMMS, refreshed weekly.
- Maintenance (1%/yr) and water and sewer ($68/mo) are national estimates. Every assumption above is editable.