Evansville enters Q1 2026 as one of the most affordable rental markets Rental Beast tracks. Rents are low across all property types, days on market are brisk, and the monthly cost of owning remains well above renting. For renter clients in southwestern Indiana, this is a market defined by value and accessibility.
.png)
One-bedrooms sit at $685, 2-bedrooms at $885, and 3-bedrooms at $1,100. Single-family rentals come in at $900 while multi-family units average $695. For renters priced out of larger metros, Evansville represents a genuinely affordable alternative with a broad range of available inventory.
.png)
Evansville concession rate came in at 0% in Q1 2026, fully at odds with the national rate of 41.8%.
Median days on market in Evansville came in at 19 days overall, with single-family properties moving in 18 days and multi-family at 19 days. That is a competitive pace that puts Evansville among the faster-moving markets Rental Beast tracks. Renter clients should come prepared with documents ready and be positioned to move quickly on listings that meet their criteria.
.png)
Property managers in the region are cautiously optimistic heading into Q2. A meaningful share expect rents to increase over the next six months, none expect decreases, and the majority report applicant flow is holding steady. The share reporting more applicants than usual outpaces those reporting fewer, a positive demand signal for a market at this price point.
.png)
Despite Evansville's low rent levels, owning still costs meaningfully more than renting. The monthly cost of owning a median-priced home ($245,000 list price as of March 2026) comes to approximately $1,533 per month, compared to a 3-bedroom median rent of $1,100. That is a gap of $433 per month in favor of renting.
.png)
Calculations use Q1 2026 rents and a mortgage with 20% down, a 6.2% interest rate, taxes, and insurance to show the cost of renting versus buying.
.png)
Rental data used in this report are sourced and catalogued directly by Rental Beast, unless otherwise noted. Rental Beast listing data covers a range of rental property types and owner types operating within the long-term rental market (generally considered to be leases with a minimum of three months). Single-family rentals (SFR) are considered to be properties with 4 or fewer units. Multifamily (MF) is more than 4 doors. Unless otherwise noted, our analysis uses the Evansville, IN-KY, metropolitan statistical area (MSA) as the geographical unit.
Unique listings counts are based on rentals that were on-market at any point during the stated period. Rents are calculated based on these listings. Days on market (DOM) and concession analysis are based on these listings, with some data sources excluded due to DOM and concession info being unavailable or deemed to be unreliable. Concessions are incentives that entice renters to sign a lease (e.g., one month free, a gift card, etc.).
Our sentiment survey is based on phone conversations during Q1 2026 with rental building and community managers and property managers. Questions and answer choices:
DISCLAIMER. This report attempts to provide reliable and useful information; however, there is no guarantee that the information or other content in this document is accurate, current or suitable for any particular purpose. All content is subject to change without notice. All content is provided on an “as is” basis, with no warranties of any kind whatsoever. Rental data used in this report are sourced and catalogued directly by Rental Beast, unless otherwise noted. Our analysis uses MSA as the geographical unit and is not reflective of all-U.S. measures. Information from this document may be used with proper attribution.
©2026 by Rental Beast
