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Real Estate Prices & Overview

Downtown Evansville median real estate price is $373,256, which is more expensive than 81.9% of the neighborhoods in Indiana and 49.2% of the neighborhoods in the U.S.

The average rental price in Downtown Evansville is currently $1,608, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 61.3% of the neighborhoods in Indiana.

Downtown Evansville is a rural neighborhood (based on population density) located in Evansville, Indiana.

Downtown Evansville real estate is primarily made up of small (studio to two bedroom) to medium sized (three or four bedroom) apartment complexes/high-rise apartments and single-family homes. Most of the residential real estate is renter occupied. Many of the residences in the Downtown Evansville neighborhood are relatively historic, built no later than 1939, and in some cases, quite a bit earlier. A number of residences were also built between 2000 and the present.

Downtown Evansville has a 14.1% vacancy rate, which is well above average compared to other U.S. neighborhoods (higher than 77.9% of American neighborhoods). Most vacant housing here is vacant year round. This could either signal that there is a weak demand for real estate in the neighborhood or that large amount of new housing has been built and not yet occupied. Either way, if you live here, you may find many of the homes or apartments are empty.

Notable & Unique Neighborhood Characteristics

Many things matter about a neighborhood, but the first thing most people notice is the way a neighborhood looks and its particular character. For example, one might notice whether the buildings all date from a certain time period or whether shop signs are in multiple languages. This particular neighborhood in Evansville, the Downtown Evansville neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.

People

Of note is NeighborhoodScout's research finding that the Downtown Evansville neighborhood has some of the lowest rates of children living in poverty of any neighborhood in the United States. In a nation where approximately 1 in 4 children are living in poverty, the Downtown Evansville community truly stands out from the rest in this regard.

In addition, one of the most interesting things about the Downtown Evansville neighborhood is that it has a greater concentration of residents who live alone than most all neighborhoods in America. With 74.2% of the households here made up of people living alone, NeighborhoodScout's research reveals that this is a larger proportion of people living alone than in 99.9% of the neighborhoods in America.

Real Estate

The real estate in the Downtown Evansville neighborhood really stands out in the way it looks for a unique reason: this neighborhood has a higher proportion of apartment complexes or high-rise apartments than nearly every neighborhood in the country. Most neighborhoods are a mixture of real estate and housing types, but here it is almost entirely dominated by big apartment buildings and complexes. In fact, 90.7% of the real estate here is classified as apartment complexes or high-rise apartments, which is more than is found in 98.3% of American neighborhoods.

In addition, 91.4% of the real estate in the Downtown Evansville neighborhood is occupied by renters, which is nearly the highest rate of renter occupancy of any neighborhood in America.

Furthermore, the Downtown Evansville neighborhood is very unique in that it has one of the highest proportions of one, two, or no bedroom real estate of any neighborhood in America. Most neighborhoods have a mixture of home or apartment sizes from small to large, but here the concentration of studios and other small living spaces is at near-record heights. With 85.2% of the real estate here of this small size, this most assuredly is a notable feature that makes this neighborhood unique, along with just a handful of other neighborhoods in the U.S. that share this characteristic.

Modes of Transportation

In the Downtown Evansville neighborhood, walking to work is a real option for many. In fact, NeighborhoodScout's exclusive research reveals walking to and from work is the chosen way to commute for 14.6% of residents here. This is a higher proportion of walking commuters than we found in 97.1% of American neighborhoods. Get ready to put on your walking shoes if you move here!

Length of Commute

Regardless of the means by which residents commute, this neighborhood has a length of commute that is notable. Residents of the Downtown Evansville neighborhood have the pleasure of having one of the shortest commutes to work of any neighborhood in America. 60.9% of the residents have a commute time from home to work (one way) of less than fifteen minutes. This is a higher proportion of residents enjoying a short trip to work than NeighborhoodScout found in 96.4% of U.S. neighborhoods. Less time commuting means more time for other things in life.

Migration / Stability

Some neighborhoods have more internal cohesiveness than others. While other neighborhoods feel like a collection of strangers who just happen to live near each other. Sometimes this comes down to not only the personalities of the people in a place, but how long people have been together in that neighborhood. NeighborhoodScout's research has revealed some interesting things about the rootedness of people in the Downtown Evansville neighborhood. In the Downtown Evansville neighborhood, a greater proportion of the residents living here today did not live here five years ago than is found in 98.9% of U.S. Neighborhoods. This neighborhood, more than almost any other in America, has new residents from other areas.

Diversity

Did you know that the Downtown Evansville neighborhood has more Scots-Irish and Dutch ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 4.6% of this neighborhood's residents have Scots-Irish ancestry and 4.2% have Dutch ancestry.

Downtown Evansville is also pretty special linguistically. Significantly, 13.7% of its residents five years old and above primarily speak Polish at home. While this may seem like a small percentage, it is higher than 99.2% of the neighborhoods in America.

The Neighbors

There are two complementary measures for understanding the income of a neighborhood's residents: the average and the extremes. While a neighborhood may be relatively wealthy overall, it is equally important to understand the rate of people - particularly children - who are living at or below the federal poverty line, which is extremely low income. Some neighborhoods with a lower average income may actually have a lower childhood poverty rate than another with a higher average income, and this helps us understand the conditions and character of a neighborhood.

The neighbors in the Downtown Evansville neighborhood in Evansville are lower-middle income, making it a below average income neighborhood. NeighborhoodScout's research shows that this neighborhood has an income lower than 78.3% of U.S. neighborhoods. In addition, 0.0% of the children seventeen and under living in this neighborhood are living below the federal poverty line, which is a lower rate of childhood poverty than is found in 100.0% of America's neighborhoods.

What we choose to do for a living reflects who we are. Each neighborhood has a different mix of occupations represented, and together these tell you about the neighborhood and help you understand if this neighborhood may fit your lifestyle.

In the Downtown Evansville neighborhood, 58.0% of the working population is employed in executive, management, and professional occupations. The second most important occupational group in this neighborhood is sales and service jobs, from major sales accounts, to working in fast food restaurants, with 19.8% of the residents employed. Other residents here are employed in manufacturing and laborer occupations (13.8%), and 8.4% in clerical, assistant, and tech support occupations.

Languages

The languages spoken by people in this neighborhood are diverse. These are tabulated as the languages people preferentially speak when they are at home with their families. The most common language spoken in the Downtown Evansville neighborhood is English, spoken by 88.4% of households. Other important languages spoken here include Polish, Korean and Spanish.

Ethnicity / Ancestry

Culture is the shared learned behavior of peoples. Undeniably, different ethnicities and ancestries have different cultural traditions, and as a result, neighborhoods with concentrations of residents of one or another ethnicities or ancestries will express those cultures. It is what makes the North End in Boston so fun to visit for the Italian restaurants, bakeries, culture, and charm, and similarly, why people enjoy visiting Chinatown in San Francisco.

In the Downtown Evansville neighborhood in Evansville, IN, residents most commonly identify their ethnicity or ancestry as German (35.2%). There are also a number of people of Irish ancestry (16.1%), and residents who report Italian roots (14.4%), and some of the residents are also of English ancestry (12.5%), along with some Polish ancestry residents (7.3%), among others.

Getting to Work

Even if your neighborhood is walkable, you may still have to drive to your place of work. Some neighborhoods are located where many can get to work in just a few minutes, while others are located such that most residents have a long and arduous commute. The greatest number of commuters in Downtown Evansville neighborhood spend under 15 minutes commuting one-way to work (60.9% of working residents), one of the shortest commutes across America.

Here most residents (66.9%) drive alone in a private automobile to get to work. In addition, quite a number also hop out the door and walk to work to get to work (14.6%) . In a neighborhood like this, as in most of the nation, many residents find owning a car useful for getting to work.


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