Data through September 2026 · updated 2026-11-07 · free, from Zillow, Realtor.com, the Census Bureau and other public sources
Typical home value$239,230+4.9% YoY · prices are rising fast
Market right nowBalanced marketMore homes for sale than last year, 24% have cut their price
Income needed to buy, per year$51,860About 0.8× the local median income ($66,611): affordable for a typical household
Days on market62 daysSlower than a year ago: buyers have time to negotiate
Next 12 months+4.2%Zillow expects prices to rise strongly
The typical home in Champaign-Urbana, IL is worth $239,230, up 4.9% from a year ago. That is slightly above what local incomes have historically supported: fair value is about $220,461, so the area is 8.5% overvalued. It is a balanced market: homes take about 62 days to sell, listings are up 36% from a year ago, 24% of listings have had a price cut. Zillow expects prices to rise about 4.2% over the next year. A household needs about $51,860 a year to afford the typical home here at today's 7.18% mortgage rate (20% down, payment at 30% of income); the median household earns $66,611. Typical rent is $1,384 a month, or $1,801 for a house. In the latest IRS figures, 2,126 more people moved out than in.
Home value over time
Solid: typical home value · dashed: fair value (household income × the 20-year average price-to-income ratio). Sources: FHFA, Zillow, U.S. Census Bureau.
Prices and affordability
Typical home value
$239,230
Change in 1 year
+4.9%
Overvalued %
+8.5%
Show 7 more
Fair home value
$220,461
Change in 5 years
+30.8%
Zillow forecast, next 12 months
+4.2%
Home value to income
3.6×
Monthly mortgage payment (20% down)
$1,297
Income needed to afford it
$51,860
Property tax rate
2.02%
Rent and investing
Typical rent
$1,384
Typical rent for houses
$1,801
Price-to-rent ratio
14.4×
Show 3 more
HUD Fair Market Rent, 2 bedrooms
$1,160
Gross rental yield
6.94%
Cap rate (estimate)
4.51%
Market activity
Listings vs a year ago
+35.5%
Days on market
62
Listings with a price cut
24.4%
Show 3 more
Homes for sale
523
Pending sales per 100 listings
41
Asking price per sq ft
$167
People and jobs
Median household income
$66,611
Population change (1 year)
+0.3%
Unemployment rate
4.3%
Show 4 more
Population
239,979
Income adjusted for cost of living
$71,857
Net moves in (IRS)
−2,126
Cost of living (US = 100)
92.7
Schools, risk and environment
School rating (1 to 10)
5.7
FEMA hazard risk score (0 to 100)
83.1
Unhealthy air days a year
4
Show 4 more
Flood risk score
84.1
Wildfire risk score
14.6
Walkability (1 to 20)
10.9
Road, rail and air noise
53 dB
Questions people ask
Is Champaign-Urbana, IL overvalued?
Home prices in Champaign-Urbana, IL are slightly above what local incomes have historically supported: fair value is about $220,461, so the area is 8.5% overvalued.
Is Champaign-Urbana, IL a buyer's or seller's market?
Champaign-Urbana, IL is a balanced market: homes take about 62 days to sell, listings are up 36% from a year ago, 24% of listings have had a price cut.
Are home prices going down in Champaign-Urbana, IL?
Home values in Champaign-Urbana, IL are up 4.9% over the last year. Zillow's forecast for the next 12 months is +4.2%.
How much do you need to earn to buy a home in Champaign-Urbana, IL?
A household needs about $51,860 a year to afford the typical home in Champaign-Urbana, IL at today's 7.18% mortgage rate (20% down, payment at 30% of income); the median household earns $66,611.