The story of this market
The typical home in ZIP 47708 sells for about $241,000, or $145 per square foot.
Prices are up +2.1% from a year ago, so sellers still have some momentum. Homes take about 44 days to sell. HUD's fair market rent for a two-bedroom is $1,194 a month.
ZIP 47708 — Evansville
The 47708 housing market is characterized by high vacancy rates and elevated unemployment, signaling significant risk for residential investors. While median prices remain relatively affordable, the market is thin and sensitive to local economic fluctuations. Buyers should exercise caution due to the high share of renter cost-burdened households and limited inventory.
This ZIP is best suited for investors or budget-conscious buyers looking for urban proximity, though high vacancy and unemployment rates warrant caution.
Median prices moved up 2.1% year over year.
Homes spend a median of 44 days on market with 1.8 months of supply — a fast-moving market.
22% of listings have cut prices · homes sell at 98.6% of asking — demand is running ahead of supply.
no recorded foreclosure-ledger notices (0.0 per 10,000 residents) · unemployment 12.6% · poverty 27.4% — elevated distress and economic pressure.
versus the prior ACS vintage
in-migration and out-migration balanced
ZCTA 47708, Vanderburgh County IN
ACS 2024 5-year estimates. Aggregate published statistics for this ZIP — never individual records, and never an attribute of any individual property or resident.
The area is served by the Evansville Vanderburgh School Corporation, with Signature School Inc. located within the ZIP code.
The local economy is anchored by healthcare and manufacturing sectors in the broader Evansville metro area.
Composed from the ARED governance burden registry — tier-native tax structure (state + county + city + special districts), never averaged. State (Indiana) — Ad Valorem Property Assessment: Property is assessed at 100% of true tax value, determined by market-based assessment systems and annual adjustments. State (Indiana) — Standard Homestead Deduction: Removes the first $45,000 of the homestead's assessed value from taxation. State (Indiana) — Indiana Property Tax Caps (Circuit Breaker): Limits annual property tax liability to 1% of gross assessed value for principal residences, 2% for other residential property, and 3% for non-residential property.
The ZIP is centrally located in Evansville, providing short commute times to the downtown employment core.
The area features proximity to the Ohio River waterfront, local parks, and downtown shopping and dining districts.
The rental market shows high vacancy pressure at 24.2%, suggesting a challenging environment for investors.
The economy is driven by the broader Evansville metropolitan area, which features major employers in healthcare, manufacturing, and logistics.
The area is served by local bus transit and major highway corridors connecting to the wider Evansville region.
Vanderburgh County utilizes a mass appraisal system for annual property tax assessments.
Parcels are subject to Evansville Vanderburgh School Corporation taxes and local municipal levies.
Data retrieved from Repit and local census summaries.
Public schools whose reported address is in this area (NCES). Not attendance boundaries — schools that serve residents may sit outside it. Check the district's address locator for assignment.
A notable public charter high school located within the ZIP.
Provides access to walking trails and riverfront parks.
Key-figure check: no independent anchor retained yet — first-researched cycles establish the anchor baseline this pass.