Safe Rate Local

Cost of Living in Evansville

Is it better to rent or buy in Evansville? Explore median costs, utility estimates, and run the numbers on your own budget to see how far your income goes.

← Back to Evansville Hub

Rent vs. Buy Affordability Calculator

Adjust the sliders to match your scenario. We recommend keeping total housing costs under 40% of your gross income.

$75,571
$1,075/mo

Median in area: $1,075

$199,393

Median in area: $199,393

$39,879

If you Rent

🔑
$1,295 /mo
Base Rent$1,075
Est. Utilities$220
% of Income20.6%
Pre-tax Residual$5,003

If you Buy

🏠
$1,435 /mo
P&I (6.5%)$1,008
Taxes & Ins$207
Est. Utilities$220
% of Income22.8%
Pre-tax Residual$4,862

Cost of Living FAQs

Is it cheaper to rent or buy in Evansville?›

Based on median housing data, renting is currently more affordable on a monthly basis in Evansville. The estimated all-in monthly cost for renting is $1,295, while owning a median-priced home with a 20% down payment is roughly $1,435 per month (a difference of $140).

How much do utilities cost in Evansville?›

The average monthly utility cost (electricity and natural gas) for a typical home in Evansville is approximately $220. This estimate uses local utility rate schedules combined with median energy consumption profiles.

What is a good salary to live comfortably in Evansville?›

To comfortably afford the median rent and utilities in Evansville without exceeding the recommended 30% housing-to-income threshold, a household should earn a gross salary of approximately $51,800 per year.