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Evansville, IN mortgage & affordability calculator

The typical home in Evansville, IN is worth about $190,000. With 20% down that's a loan near $152,000 — the calculator is pre-filled with that figure. Evansville sits at the southern tip of Indiana along the Ohio River, with a manufacturing- and healthcare-driven economy that has kept prices among the most affordable in the Midwest. The state's homestead property tax cap applies here as it does statewide, keeping the tax line modest.

$986.88 / month

Total interest
$203,276
Total paid
$355,276
Payoff
30.0 years
Balance over YearBalance ends near $0 at 30.$0$38k$76k$114k$152k0612182430Year

How much you need to earn

Evansville, IN's median household income is about $60,000 a year. Under standard 28/36 lending rules that supports a home price around $212,364 with 20% down — comfortably above the $190,000 typical price.

$212,352 max home price

Max loan amount
$174,352
Housing payment budget
$1,400
P&I budget
$1,132
Bound by
front-end ratio

Uses the 28% front-end / 36% back-end DTI guidelines. Lenders vary.

Typical asking rent in Evansville, IN is about $1,000 a month, so owning the median home costs roughly $255 more per month before tax effects, maintenance, and any change in home value.

Frequently asked questions

What is a typical mortgage payment in Evansville, IN?
On the metro's roughly $190,000 typical home with 20% down, the loan is about $152,000. Principal and interest run near $987 a month at today's rate, and Evansville, IN's property tax plus insurance add about $268, for a full payment near $1,255.
Can I afford a home in Evansville, IN on the median income?
The median household income is about $60,000 a year. Under standard 28/36 lending rules that supports a home price around $212,364 with 20% down — above the $190,000 typical price, so a median home is within reach.
Is it cheaper to rent or buy in Evansville, IN?
Typical asking rent is about $1,000 a month. The full owner payment on a median home is near $1,255, so owning costs roughly $255 more per month before tax effects, maintenance, and any appreciation.
How much are property taxes in Evansville, IN?
The effective property tax rate in the core county is about 0.85% of market value — roughly $1,615 a year on the typical home. Your exact rate depends on the municipality and any exemptions.
Are home prices in Evansville, IN rising or falling?
Home values are up about 4% over the past year. Evansville sits at the southern tip of Indiana along the Ohio River, with a manufacturing- and healthcare-driven economy that has kept prices among the most affordable in the Midwest. The state's homestead property tax cap applies here as it does statewide, keeping the tax line modest.

Nearby metros

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