Department of Numbers

Evansville Indiana Residential Rent and Rental Statistics

The median monthly gross residential rent in Evansville, IN (the Evansville metro area) was $696 in 2015 according to the Census ACS survey.1 Average gross rent in Evansville was $690 in 2015. The median rent more accurately depicts rental rates in the middle of the distribution of rents and is thus preferred in the analysis below. 2016 Evansville median and average rent data will be released in September of 2017.

Data is also available below for Evansville rental vacancy rates, Evansville rent as a percent of median income and the fraction of renters in Evansville.

Show dollars as: Nominal Real

Real Gross Rent in Evansville Indiana (2015 dollars)2

2015 1 Year Change 3 Year Change
US Median Gross Rent $959 +3.12% +8.24%
Indiana Median Gross Rent $758 +1.20% +5.72%
Evansville, IN Median Gross Rent $696 -3.73% +4.19%

Evansville, IN Real Gross Rent Trends

Median gross rent for Evansville peaked in real terms in 2014 at $723 and is now $27 (3.73%) lower. Average gross rent for Evansville peaked in real terms in 2014 at $702 and is now $12 (1.71%) lower.

Real Gross Rent in Evansville: Evansville IN Median, Evansville IN Average, Indiana Median, US Median

Lower quartile, median and upper quartile real gross rent

Real Gross Rent History for Evansville

Date US
Median
Indiana
Median
Evansville, IN
Median
Evansville, IN
Average
2015 $959 $758 $696 $690
2014 $930 $749 $723 $702
2013 $898 $725 $669 $677
2012 $886 $717 $668 $665
2011 $887 $720 $677 $688
2010 $901 $719 $680 $693
2009 $905 $738 $683 $698
2008 $920 $748 $691 $682
2007 $874 $707 $652 $639
2006 $883 $739 $646 $667
2005 $858 $725 $646 $638

Evansville Rental Vacancy Rate

The rental vacancy rate is the fraction of homes for rent that are not occupied.3 In 2015 the rental vacancy rate for Evansville Indiana was 7.08% according to Census ACS data.

Rental Vacancy Rate in Evansville Indiana

2015 1 Year Change 3 Year Change
US 5.85% -0.47% -0.92%
Indiana 7.94% -0.15% -0.49%
Evansville, IN 7.08% -0.87% +1.95%

Trends in Evansville, IN Rental Vacancy Rate

The rental vacancy rate in Evansville peaked in 2005 at 14.47%. Since then it has fallen by 7.39% to 7.08%. Data records for this series originated in 2005. From a 2013 post peak low of 4.01%, the rental vacancy rate has increased by 3.07%.

Rental Vacancy Rate: Evansville IN, Indiana, US

Rental vacancy rate in Indiana

Historical Rental Vacancy Rate data for Evansville

Date US Indiana Evansville, IN
2015 5.85% 7.94% 7.08%
2014 6.32% 8.09% 7.95%
2013 6.49% 7.00% 4.01%
2012 6.77% 8.43% 5.13%
2011 7.40% 8.47% 5.53%
2010 8.17% 8.78% 5.98%
2009 8.43% 10.44% 12.29%
2008 7.86% 9.02% 6.58%
2007 7.87% 9.72% 8.77%
2006 7.70% 11.17% 10.63%
2005 7.74% 10.67% 14.47%

Rent as a Fraction of Income

Using median household income data for Evansville, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. For Evansville, median monthly gross rent as a fraction of median household income was 17.16% in 2015 according to the ACS.

Evansville Indiana Median Annual Rent as a Fraction of Median Household Income

2015 1 Year Change 3 Year Change
US 20.63% -0.26% -0.02%
Indiana 18.00% -0.27% -0.26%
Evansville, IN 17.16% -1.55% -0.64%

Trends in Evansville, IN Rent as a Fraction of Income

The fraction of median Evansville household income required to pay median monthly gross rent peaked in 2014 (relative to the 2005 series origin) at 18.72%. Since then it has fallen by 1.55% to 17.16%.

Fraction of Income towards Rent: Evansville IN, Indiana, US

Percent of median household income going towards median monthly gross rent in Evansville Indiana

Historical Data for Annual Rent as a Fraction of Income in Evansville Indiana

Date US Indiana Evansville, IN
2015 20.63% 18.00% 17.16%
2014 20.89% 18.27% 18.72%
2013 20.78% 18.43% 17.84%
2012 20.65% 18.27% 17.80%
2011 20.70% 18.27% 17.08%
2010 20.50% 18.37% 17.49%
2009 20.12% 18.15% 16.43%
2008 19.00% 16.76% 17.14%
2007 18.66% 16.14% 15.31%
2006 18.90% 16.87% 15.53%
2005 18.89% 16.78% 15.14%

Renter Fraction in Evansville Indiana

You can calculate the renter fraction in Evansville in at least two ways: by housing units or by population. I've gone with the housing units measure here. This measure looks at the number of renting households in Evansville as a fraction of total Evansville households. In 2015 33.44% of households were renters according to Census ACS data.

Evansville Fraction of Renters by Household Units

2015 1 Year Change 3 Year Change
US 36.97% +0.07% +0.88%
Indiana 31.82% +0.40% +1.20%
Evansville, IN 33.44% +1.07% +2.78%

Trends in the Evansville, IN Renter Fraction

At 33.44%, the 2015 household based renter fraction in Evansville was at its highest level. The origin year for the series is 2005.

Fraction of Renting Households: Evansville IN, Indiana, US

Fraction of renters in Evansville

History of Evansville Renter Fraction

Date US Indiana Evansville, IN
2015 36.97% 31.82% 33.44%
2014 36.90% 31.42% 32.37%
2013 36.50% 31.48% 29.82%
2012 36.09% 30.62% 30.66%
2011 35.42% 30.28% 29.10%
2010 34.65% 29.71% 28.45%
2009 34.13% 29.57% 30.23%
2008 33.36% 28.17% 29.68%
2007 32.80% 28.37% 28.77%
2006 32.73% 27.88% 26.41%
2005 33.10% 28.00% 26.70%

1. Gross rent is defined as contract rent plus the estimated average monthly cost of utilities (electricity, gas, water, and sewer) and fuel (oil, coal, kerosene, wood, etc.). Because some rentals include utilities and others don't, gross rent is a way of normalizing the variability.

2. Real dollars are calculated using the CPI-U less shelter series.

3. The rental vacancy rate is computed by dividing the number of vacant units for rent by the sum of the renter-occupied units, vacant units that are for rent, and vacant units that have been rented but not yet occupied.