Real Estate in Evansville
Things to do
Real Estate in Evansville, Indiana
You can't talk about the best cities in Indiana without mentioning Evansville. This is a great city with a versatile market for real estate. It is the third-largest city in the state, located along the banks of River Ohio. Evansville is home to a captivating array of cultural and historical sites, making it one of the best places to be in the region. It was voted the "best city to live, work and play" by Personal Finance, a leading publication.
Being a thriving metropolis, Evansville is the headquarters of a wide range of major companies in the United States. It is also the Midwestern hub for medical science and healthcare industries. This makes it highly profitable to invest in real estate in Evansville, Indiana. With its position as the central city of the Evansville metropolitan area, the city has a major economy that serves the southern part of the state. Living in this city comes with many benefits, including access to world-class amenities.
History of Evansville
History of Evansville
Evansville has a great history that shaped its current stature. In its early years, Evansville depended on mining activities to grow its economy. The presence of oil deposits and coal deposits attracted many people to the city. Besides, the availability of fertile farmland motivated locals to engage in agriculture, an activity that is still done today. The presence of hydroelectric power and Evansville's strategic location as a transportation hub made the city a great attraction, with several economic activities launched. These factors have contributed to the city's growth as a metropolis in southern Indiana and the neighboring areas of Illinois and Kentucky. In the 1950s, the city became a diversified manufacturer of things like aluminum, home appliances, pharmaceuticals, and food products. After the end of the Civil War, Evansville benefited from the postwar demand for products like farm equipment, automobiles, and household appliances. Growing housing demand also put real estate in Evansville, Indiana in high demand. The increased demand triggered residential development in the east and north of the city. Between 1955 and 1964, Evansville was greatly affected by the national recession. Some of the companies that went out of business during that period were Servel (which produced refrigerators) and Chrysler, which closed down their offices in Evansville. While Evansville was on the verge of economic collapse in 1963, 28 new businesses moved into the city and stabilized it. Some of these companies included Alcoa, Whirlpool, and General Electric. Towards the end of the 20th century, the city became a hub of the tri-state region's medical, commercial, and service industries. In the 1990s, Evansville experienced an economic spurt that was fueled by the rapid development of the University of South Indiana. The establishment of AK Steel and Toyota manufacturing plants sealed Evansville's position as one of the major cities in Indiana. With all these companies and a steady local economy, you can be confident when investing in real estate for sale in Evansville, Indiana.
Things to do in Evansville
Things to do in Evansville
There is a lot to see and do in Evansville, Indiana. One of the popular attractions in the city is Hartman Arboretum, found north of the city. The arboretum is situated on the private property of Jean and Grant Hartman. Grant started this facility's design in 2001, and it is currently under the maintenance of the Hartman family. When you visit this area, expect to see three gardens — a contemplative garden, a hydrangea garden, and a wildlife garden. You will also explore a native vine arbor, stumpery, crabapple espalier, blueberry patch, and fall color grove that can be attractive to look at.
Furthermore, you can visit the Angel Mounds State Historic Site, which spans 100 acres along the Ohio River. The facility is in southwestern Indiana, a few miles outside the city. This site is the best-preserved prehistoric cultural center in the country. A visit to this area will enlighten you on the history and culture of the city's early inhabitants. You will also get a chance to see rare artifacts from as early as 1450 AD. This historic site is one of its kind in Indiana, making it a major attraction.
Evansville lies on an oxbow in the Ohio River. Its southern boundary is near the banks of the river. Most parts of the city are in a shallow valley with low rolling hills surrounding it. The west side of Evansville is situated on the rolling hills and is home to great attractions like Mesker Park Zoo, Mesker Amphitheatre, and Burdette Park. The east side of Evansville is protected by levees and is mostly developed in the valley. Some of the notable landmarks on the west side of Evansville include Angel Mounds State Historic Site and the Wesselman Woods Nature Preserve, which covers around 240 acres. There are also several landmarks southeast of Evansville, between Newburgh and Indiana. According to the city's original downtown plat, it was to cover over 200 acres. The streets were also designed to run parallel to the Ohio River from southeast to the northwest.
Any real estate investor understands the importance of population in a location. Evansville comes with the required population to make real estate investment profitable. According to the 2020 census, Evansville had a population of 165,274 people, a significant increase from the 112,374 recorded in 2010. This is a sign that the city continues to attract people, increasing the demand for real estate for sale in Evansville.
The city's population density was 2,653 inhabitants per square mile, meaning there are spaces between residential areas in the city. This is beneficial for the real estate market. With an average density of 1,502 housing units per square mile, there is demand for homes in the city given its high population.
Out of the 61,783 households in Evansville, 27.5% had children aged under 18 living there. Most of these households are two-bedroom apartments, making it profitable to invest in such apartments. As per the report, 36.5% were married couples living together. Most married couples, especially younger ones, lived in condos on the outskirts of the city.
As a real estate developer, it is vital to know the type of house structures on-demand before investing. With about 38.7% of households in Evansville occupied by individuals living alone, there is a need to consider single-unit apartments to accommodate such tenants. Evansville's median household income was $36,334, a sign that city residents earn a substantial amount of money. This is great for any real estate market. Its per capita income in 2016 was $21,374.
In terms of its economy, Evansville is one of the best-performing cities in Indiana. It is for that reason that real estate in Evansville, Indiana has grown rapidly. This city is the economic hub of regions including Indiana, Illinois, and Kentucky. Some of the largest sectors in the city's economy include finance, healthcare, manufacturing, and education.
Some of the other major industries contributing to economic development include distribution, retail, warehousing, and energy. The city is also home to some of the most established corporate companies including Karges Furniture, Evana Tool & Engineering, Berry Global, Atlas Van Lines, Metronet, and Red Spot Paint, among others.
Arts in Evansville
Arts in Evansville
Evansville has a wide range of arts and entertainment options. There are numerous art galleries and museums you can explore in the city. For example, the Evansville Museum of Arts and History is a great place to learn more about art history. Conveniently located in the city's downtown, the museum has been in existence since 1874. However, it moved to its current location in 1954. A visit to this facility will give you access to some of the earliest art exhibitions, with some of the rarest pieces.
If you like performance arts, you will love the Victory Theater at the heart of Evansville. This 1950-seat facility is home to the Evansville Philharmonic Orchestra, one of the oldest groups in the country. The orchestra presents a seven-concert classic series annually. You can also enjoy various music performances at the facility.
Schools in Evansville
Schools in Evansville
There are several learning institutions in Evansville. The city has a unified school system known as the Evansville Vanderburgh School Corporation. The system consists of 11 middle schools, five public high schools, and 20 elementary schools. Besides, there are two charter schools, two parochial schools, and one private school. The city is also home to several institutions of higher learning. For example, the University of Evansville is found south of the city and admits over 3,000 students.
Evansville is a great city to live in and work in. It offers you a wide range of essential amenities that make life comfortable. Investing in real estate in Evansville, Indiana is a great idea due to the city's high population and the thriving local economy.
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