Evansville, IN housing market: January prices up, 62-unit conversion gets rezoning OK
Evansville, IN – February 27, 2026 – January sales showed higher prices and faster turn times, while a 62-unit church-to-apartments plan moves ahead.
Evansville, IN housing conditions stayed active heading into late winter, with fresh January data pointing to higher prices and quicker turn times. At the same time, a notable reuse project is advancing after a rezoning decision tied to a church-to-apartments conversion.
At a glance
- Redfin (Jan. 2026): Median sale price was $150K (+7.2% YoY) and the median days on market was 26. 91 homes sold.
- Zillow (home values): Typical home value is about $192K (+3.6% YoY).
- Zillow (inventory as of Jan. 31): 671 homes for sale and 157 new listings.
- Development: The Area Plan Commission approved a rezoning tied to converting a vacant West Michigan Street church into 62 apartments (Feb. 5).
Market pulse
Demand appears steady but not frantic. Redfin’s sales count was lower than last year (91 vs. 116), even as marketing time improved. That combination can signal a market where well-priced homes still move efficiently, but overall transactions are running lighter than the prior year.
On rentals, Zillow’s average rent is about $1,000, up 7.4% year-over-year.
Development watch
With the rezoning cleared for the 62-unit conversion, the next signals to watch are permitting milestones, construction start timing, and whether site-plan details (including parking layout) change after neighborhood feedback.
Are you seeing more price cuts, multiple-offer listings, or more renters renewing in place?