62242, Evansville, IL

Evansville, Illinois is located in the heart of Indiana and has a population of over 200,000 people. The 62242 zip code covers a total area of just over 10 square miles and has a median home value of $122,500. Evansville is known for its manufacturing and agricultural industries, as well as its universities.

The average home value in the 62242 zip code increased by 7% from 2013 to 2014, which was faster than the national average increase of 5%. This growth can be attributed to several factors: low interest rates (0.5%), strong job market (average unemployment rate 4%), and steady population growth (1%). Evansville also benefits from being located in one of the most desirable areas in the Midwest – close to major cities like Indianapolis and Chicago but with plenty of rural countryside too.

Despite this recent growth, there are still some neighborhoods that are more affordable than others. The top five most affordable zip codes in Evansville are 62241 (with a median home value of $105,000), 62237 (with a median home value of $112,500), 62301 (with a median home value of $117,500), 62311 (with a median home value of $119,000), and 62501 (with a median home value of $123,000). Conversely, the five least affordable zip codes are 62515 (-$128K), 62517 (-$130K), 62521 (-$134K), 62525 (-$137K), 62529 (-$140K), and 62531 (-$143K).

Overall though, it’s safe to say that homes in Evansville continue to appreciate at an above-average rate – even if some neighborhoods have seen slower appreciation than others recently. If you’re looking for an area where prices have continued to rise but aren’t worried about being able to afford your dream house yet – or if you’re already living in one of these more expensive neighborhoods – you should feel confident that your property will continue to appreciate over time.