Mortgage Rates in Evansville, Indiana — March 2026
Updated March 2026 | Based on Evansville market data and regional lending conditions
Evansville is a growing city in Indiana with a population of 117,979. The current 30-year fixed mortgage rate in Evansville is 6.75%, which is 0.1% above the national average. With a median home price of $145,000 and a 20% down payment of $29,000, homebuyers can expect a monthly principal and interest payment of approximately $752.
Current Mortgage Rates in Evansville, IN
Below are the current average mortgage rates available in the Evansville area as of March 2026. Rates vary by lender, credit score, and loan-to-value ratio. Use our free calculator above to see your personalized estimate.
| Loan Type | Rate | National Avg | Difference |
|---|---|---|---|
| 30-Year Fixed | 6.75% | 6.65% | +0.1% |
| 15-Year Fixed | 5.99% | 5.89% | +0.1% |
| 5/1 ARM | 6.25% | 6.15% | +0.1% |
| FHA | 6.35% | 6.25% | +0.1% |
| VA | 6.15% | 6.05% | +0.1% |
| Jumbo | 6.95% | 6.85% | +0.1% |
Evansville Housing Market Overview
The Evansville housing market offers relatively affordable housing compared to many major cities. The median household income in Evansville is $42,250, and the cost of living index is 82.5 (national average = 100). Based on the 28% affordability rule, the median income in Evansville is sufficient to afford the median-priced home.
Monthly Payment Breakdown for Evansville
Based on the median home price of $145,000 with 20% down ($29,000), here is what you can expect to pay monthly in Evansville:
15-Year vs. 30-Year Mortgage in Evansville
Choosing a 15-year mortgage in Evansville at 5.99% instead of a 30-year at 6.75% would save you $94,680 in total interest over the life of the loan. However, your monthly payment would be $978 instead of $752 — an increase of $226 per month.
Calculate Your Evansville Mortgage Payment
Use our free calculator to get a personalized estimate based on your loan amount, interest rate, and term.
Open Free CalculatorFrequently Asked Questions About Mortgages in Evansville
What are the current mortgage rates in Evansville, IN?
As of March 2026, the average 30-year fixed mortgage rate in Evansville, Indiana is 6.75%, while the 15-year fixed rate is 5.99%. FHA loans average 6.35% and VA loans 6.15%. These rates are 0.1% above the national average of 6.65%.
How much is a monthly mortgage payment in Evansville?
Based on the median home price of $145,000 with 20% down, the estimated monthly mortgage payment in Evansville is $752 for principal and interest. Including property taxes of $103/month, the total monthly housing cost is approximately $855.
What income do I need to buy a home in Evansville?
Using the 28% rule, you would need an annual income of approximately $36,643 to afford the median-priced home in Evansville at $145,000. The median household income in Evansville is $42,250. The median income is currently sufficient to meet this threshold.
Is Evansville a good place to buy a home in 2026?
Evansville offers a below-average cost of living with a cost of living index of 82.5 (national average = 100). The property tax rate in Indiana is 0.85%, which is near the national average. Evansville has a population of 117,979 and offers a very affordable lifestyle.
Mortgage Rates in Other Indiana Cities
Related Tools & Guides
Last updated: March 2026. Rates are approximate averages based on regional lending data for the Evansville, Indiana area. Individual rates may vary by lender, credit score, loan amount, and other factors. Use our free calculator for a personalized estimate.