What's a good cap rate in Evansville?

In Evansville, cap rates typically run around 8.5% (Indiana state median). A deal above that line is outperforming the local market; below it, you're paying up for appreciation or stability. TrueCap shows where any specific Evansville deal lands versus this benchmark.

What's the average rent for a rental in Evansville?

A typical rental in Evansville runs about $1,113–$1,370/mo (HUD Fair Market Rent, 2–3BR). TrueCap auto-fills HUD Fair Market Rent for the exact address you enter.

What is the property tax rate in Indiana?

Indiana's effective property tax rate is about 0.84% of value per year — the figure TrueCap applies by default for Evansville deals. You can override it with the exact local rate.

Evansville, IN

Evansville rental property analysis

Evansville is a stable, low-cost southern-Indiana market — healthcare, manufacturing, and a university base support dependable demand.

Evansville market snapshot

Cash-flow market

Higher typical cap rates — built for monthly cash flow more than price growth.

Typical cap rate

8.5%

Indiana state median

Typical rent

$1,113–$1,370/mo

HUD FMR · 2–3BR · 2026

Typical price

$130,000–$210,000

est., all-in

Property tax

0.84%

Indiana effective

Rent is HUD Fair Market Rent where available, otherwise a market estimate; price is a market estimate. Cap-rate and tax are the defaults TrueCap applies — enter a specific address for exact, auto-filled numbers.

Sources & methodology. These are screening defaults and market estimates — not an appraisal, and not financial, tax, or legal advice. Verify rents, taxes, insurance, and local landlord/tenant law against the county assessor and your state's landlord-tenant statute before relying on them.

Data: HUD Fair Market Rent · FRED 30-yr mortgage rate · Tax Foundation (property tax) · Updated June 2026

Metro-level estimates — precision is lower at the neighborhood and parcel level; pull a specific address for exact, auto-filled figures. Reviewed by the TrueCap team. See our full methodology.

Is Evansville a good place to buy rentals?

Affordable entry, landlord-friendly Indiana law, and steady tenants make for reliable cash flow. Modest appreciation; a clean yield market.

See the full Indianainvesting guide — taxes, landlord law & top metros →

Neighborhoods to look at in Evansville

East Side

Desirable, stable, family renters.

North Side

Newer SFRs, low vacancy.

Near University

Student demand.

Neighborhood notes are starting points, not recommendations — always underwrite the specific property.

Run a Evansville deal in 60 seconds

Paste a Evansville address into TrueCap and get cap rate, cash-on-cash, DSCR, cash flow, and a 10-year projection — auto-filled with Indiana tax and HUD rent so you start from the right assumptions.

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