ZIP Code · IN

ZIP 47714

Part of Evansville, IN

Pop. 32,132·Vanderburgh County·117th most expensive ZIP in Indiana

Median rent (all units)

$1,046/mo

Year-over-Year

-4.2%

Month-over-Month

-1.1%

vs US Median

-$886

Reported rents

Falling (Monthly)

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Most AffordableMost Expensive

ZIP 47714 · $1,046

More affordable than 97% of US ZIP codes · National median $1,932/mo

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Medians by bedroom

Rent by unit size

Studio

$860

1 BR

$870

2 BR

$1,120

3 BR

$1,380

4 BR+

$1,550

Research median

$1,120/mo

Bedroom estimates are gross rents that include essential utilities (electricity, water, gas, sewer, trash).

Rent trends

12-month history

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Last updated: October 17, 2026

From the history

What the numbers show

Cheapest month to sign

July. Asking rents in ZIP 47714 usually run 0.8% below trend in July and 1% above it in October, about $19 a month apart at today's median. Based on 5 years of data.

Compared with the peak

Rent in ZIP 47714 is 4.6% below its high of $1,096 in October 2025, at $1,046 as of September 2026.

Past year vs. the rest of Indiana

Rent in ZIP 47714 changed -4.2% over the year to September 2026. Across the 114 Indiana ZIP codes Zillow tracks, the typical change was +3.9%.

Recent direction

Rent has fallen 3 months in a row, and rose in 5 of the last 12 months.

What a typical income covers

30% of the median household income ($55,910) is $1,398 a month. That covers HUD's Fair Market Rent for up to a 3-bedroom ($1,380); a 4-bedroom is $1,550.

Rank in Evansville

4th cheapest of 6 ZIP codes in Evansville.

Cheaper nearby

ZIP 47710, 6 miles away, rents for 21% less ($830/mo), about $2,600 a year in savings.

From Zillow's monthly rent index (ZORI) for ZIP 47714. The seasonal pattern compares Zillow’s seasonally adjusted and unadjusted series. Income is the Census median household income (5-year estimates). Fair Market Rents are HUD’s, which include utilities.

Annual cost

$12,552/yr

At $1,046/mo median

Location

CityEvansville

StateIN

CountyVanderburgh County

Rent Market Meter

Strong Renter's Market

Renter's MarketBalancedLandlord's Market

Rents are down 4.2% year-over-year. Push hard on price, concessions, and lease terms.

Based on rent-price momentum (-4.2% YoY, -1.1% MoM), not inventory.

Demographics

Who lives here

ZIP 47714 (Evansville, IN) is majority owner-occupied, has a median income below the national average, 22.9% of residents hold a bachelor's degree or higher.

Population

32,132

Median income

$55,910

Median age

35.6

Renters

39.8%

Age distribution

21.1%

27.7%

22.7%

14.4%

14.1%

Under 1821.1%

18–3427.7%

35–5422.7%

55–6414.4%

65+14.1%

Gender

50%

Male50%

Female50%

Race & ethnicity

74.1%

15.3%

White74.1%

Black15.3%

Hispanic5.2%

Asian0.6%

Other4.7%

Education (25+)

12.8%

30.7%

33.7%

22.9%

No HS diploma12.8%

HS diploma30.7%

Some college33.7%

Bachelor's+22.9%

Housing tenure

60.2%

39.8%

Owner60.2%

Renter39.8%

Source: U.S. Census Bureau · ACS 2024 5-Year Estimates

2022 vs 2026

How ZIP 47714 in Evansville, IN has changed in 5 years

Rent

$843 → $1,046

up 24.1%

Income

$49,045 → $55,910

up 14.0%

Population

34,596 → 32,132

down 7.1%

Renter share

42.2% → 39.8%

-2.4 pts

Bachelor's+

20.3% → 22.9%

+2.6 pts

Rent in ZIP 47714 in Evansville, IN has climbed 24.1% since 2022, going from about $843 per month to roughly $1,046 today. Census figures show median household income at $55,910 today, compared with $49,045 five years earlier. Rent outpaced income growth by roughly 10.1 percentage points, which means renters are spending a larger slice of each paycheck on housing than they did in 2021. Headcount in the area went from 34,596 to 32,132 between 2021 and 2024, a 7.1% change. About 39.8% of households rent today, against 42.2% in 2021. Educational attainment has shifted as well, with the share of adults holding a bachelor's degree or higher climbed from 20.3% to 22.9%. The combined trend lines point to a market that has changed measurably from where it stood in early 2022.

Community

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About renting in ZIP 47714

Last updated: October 17, 2026

ZIP code 47714 covers Evansville, IN. The median rent here is $1,046/mo as of October 2026. A 1-bedroom rents for a median of $870/mo. A 2-bedroom rents for a median of $1,120/mo.

At 22% of local median household income ($55,910/yr), ZIP 47714 ranks as affordable compared to the national benchmark of 30%. Rents have decreased 4.2% over the past year.

FAQ

Frequently asked questions

How much income do you need to rent in ZIP 47714?

To keep rent at or below 30% of gross income, you would need to earn at least $42,000/year (about $20/hour full-time) to afford the median rent of $1,046/mo in ZIP 47714. The local median household income is $55,910/yr, so the typical household meets that bar.

Is rent going up or down in ZIP 47714?

Rent in ZIP 47714 has fallen 4.2% over the past year as of September 2026. It sits 4.6% below its high of $1,096 in October 2025.

When is the cheapest time to rent in ZIP 47714?

Asking rents in ZIP 47714 are usually lowest in July, about 0.8% below their yearly trend, and highest in October, about 1% above it. At today's median that is a gap of roughly $19 a month. This pattern comes from 5 years of Zillow rent data.

How does ZIP 47714 compare to other ZIPs in Indiana?

ZIP 47714 is one of the more affordable among Indiana ZIP codes for rent, ranking #117 of 139 at $1,046/mo. Over the year to September 2026, rent in ZIP 47714 changed -4.2%, against a typical +3.9% across the 114 Indiana ZIP codes Zillow tracks.