Commercial Real Estate Market in Evansville, IN
Updated monthly: sale, lease, property records, location trend, and more… · Last update: October 31
296 active listings and 5,649 off-market properties in Evansville, IN. Commercial property asks $80/SF to buy and $13.00/SF/Yr to lease.
Market Trends
Evansville, IN spans 234.1 square miles in Vanderburgh County, Indiana. Figures below refresh monthly; last updated 31 October 2026.
Office
Office space in Evansville, IN has a median asking sale price of $78/SF (based on 8 listings). Vacancy runs 21.3% across the Midwest region in 2025, up from 13.7% in 2019.
Retail
Retail space in Evansville, IN has a median asking sale price of $82/SF (based on 8 listings). Vacancy runs 6.3% across the Midwest region in 2025, down from 8% in 2020.
Industrial
Industrial space in Evansville, IN has a median asking sale price of $75/SF (based on 7 listings). Vacancy runs 4.9% across the Midwest region in 2025, up from 4.4% in 2019. Nearly 1.6x the 2022 low of 3.1%.
Multifamily
Multifamily space in Evansville, IN has a median asking sale price of $77/SF. Vacancy runs 8% across the Midwest region in 2025, up from 6.5% in 2022.
Zoning & Land Use
Land Use Mix share of zoned land by category
- Residential 63%
- Industrial 17%
- Commercial 14.3%
- Special 5%
- Planned_development 0.7%
- Agricultural 0%
Largest Zones share of zoned land by district
Evansville, IN zones 25,179 acres across 21 districts. Commercial zoning covers 14.3% of zoned land, residential 63% and industrial 17%. The largest single district is One Family Residence at 43.5%. For commercial buyers the practical constraint is that only 31.3% of land carries a commercial or industrial designation.
List of uses permitted in the C-4, M-1, M-2, M-3, AIR, and W-I districts, which meet the requirements and restrictions of those zones: (A) Retail stores specializing in the sale or rental of any of the following: (1) Awnings; (2) Dairy supplies; (3) Feed; (4) Restaurant and hotel supplies and equipment; (5) Welding supplies and equipment. (B) The following s…
Market overview
Demographics & Economy
Evansville, IN has 183,242 residents in 86,083 households. Density runs 783 people per square mile. Median household income here is $64,165 and median gross rent $1,031 a month.
Tools
Nearby Markets
| Market | Median Asking Price, $/SF | Median Asking Rent, $/SF/Yr |
|---|---|---|
| Newburgh | — | $16.75 |
| Henderson | $317 | $15.50 |
Commercial property in Evansville, IN asks $80/SF. That compares with $317/SF in Henderson.
Frequently Asked Questions
What is the median price per square foot for commercial property in Evansville?
How much does it cost to lease commercial space in Evansville?
How does Evansville compare to nearby markets on price?
What zoning applies to commercial property in Evansville?
Where does Realmo's Evansville market data come from?
Methodology & data sources
- Asking prices and medians
- There are 136 active for-sale and 160 active for-lease listings in Evansville, IN. The medians are based on 66 of the for-sale and 34 of the for-lease listings, those that state a price or rent per square foot. These are ASKING figures from live listings, not closed-transaction prices, and a figure resting on fewer than 10 listings says so where it is quoted.
- Vacancy rates
- Published per-sector market series, taken at the metro level where one exists and otherwise at the Census-region level — a chart reading "in <region> region" is a regional number, not this city's.
- Zoning and land use
- The current municipal zoning release: 25,179 zoned acres across 21 districts. Shares are of zoned land, so parcels the release leaves unclassified are excluded from the mix.
- Refresh
- The monthly aggregates close at the end of the previous month, so 31 October 2026 — not today — is the honest last update.
- Known limitations
- office vacancy is reported at Midwest region level, retail vacancy is reported at Midwest region level and industrial vacancy is reported at Midwest region level.
- Coverage
- Metrics below the 10-observation threshold fall back one geographic level. The geography used is named on each figure.
Compiled by the Realmo Data team · reviewed 31 October 2026 · How Realmo checks market page data · Report a data issue
