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Urbana, IL—61801

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value
$181,000
3.8% YoY Growth
Household Income
$37,900
20.4% YoY Growth
Days on Market
49
19.0% Shorter YoY
Home Price Forecast
1.6%
Median Rent
$1,050
10.1% YoY Growth
1-Bed Rent
$800
12.2% YoY Growth
2-Bed Rent
$990
0.0% YoY Growth
3-Bed Rent
$1,500
6.8% YoY Growth

Other Zip Codes in Urbana, IL

61802
  • Home Price Trends
  • Rental Trends
  • Property Listings
  • Demographics
  • Mortgage and Risk

Home Price Trends — Urbana, IL

As of Dec '25, the median home price in Urbana, IL is $181,000, with a year-over-year change of 3.8%. This indicates that home prices in Urbana, IL are increasing. According to Zillow, the 1-year price projection is 1.6%, suggesting an increase housing market in the next year.

Cost per Home Type

Home TypeMedian Home ValueYoY % Change
All Homes
$181,0003.8%
Single Family $195,0004.8%
Condos $127,0001.6%

Cost per Home Size

Home SizeMedian Home ValueYoY % Change
1 Bed
  • Affordability
  • Rentals and Section 8
    • N/A
    N/A
    2 Bed
    		$132,0003.9%
    3 Bed
    		$203,0004.1%
    4 Bed
    		$265,0003.5%
    5 Bed $308,8641.7%
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    % of Housing Stock

    Studio
    4.5%
    1 Bedroom
    16.3%
    2 Bedrooms
    37.3%
    3 Bedrooms
    20.8%
    4 Bedrooms
    18.7%
    5+ Bedrooms
    2.4%

    Rental Trends — Urbana, IL

    As of July '25, Rentcast reports the average rent in Urbana, IL is $1,200, with a year-over-year rent change of 10.1%. Per bedroom, the median rent as of July '25 in Urbana, IL is studios: $878, 1-bedrooms: $848, 2-bedrooms: $1,050, 3-bedrooms: $1,560, 4-bedrooms: $1,780. The most common rental property sizes in Urbana, IL are 2-bedroom and 1-bedroom, accounting for 43.5% and 23.5% of the rental stock.

    TypeMedian RentAverage Rent
    Average Rent$1,050$1,200
    Studio Rent $660$878
    1 Bed Rent $800$848
    2 Bed Rent $990$1,050
    3 Bed Rent $1,500$1,560
    4 Bed Rent $1,850$1,780
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    % of Rental Stock

    Studio
    5.3%
    1 Bedroom
    23.5%
    2 Bedrooms
    43.5%
    3 Bedrooms
    11.6%
    4 Bedrooms
    14.3%
    5+ Bedrooms
    1.8%

    Property Listings — Urbana, IL

    As of Dec '25, Realtor.com reports that the median days on market for a home in Urbana, IL is 47. This is a decrease of -6.0% from last year, suggesting that homes are sitting on the market shorter than last year. The percentage of listed homes with a reduced price is 20.0%, representing a small inventory and little supply pressure on home prices.

    MetricZip Code AverageYear over Year % Change
    Median Listing Price
    		$248,000-8.0%
    Listing Count
    		380.0%
    Listings as % of Homes0.3%0.0%
    Days on Market
    		49-19.0%
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    Demographics — Urbana, IL

    As of the latest ACS Survey released in 2023, Urbana, IL has a population of 27,800, which has decreased by -10.9% over the past 5 years. Urbana, IL is a less popular place for families, as children make up 9.9% of the population. The area has a highly educated workforce, with 65.3% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 16.2% reporting working from home.

    MetricLatest CensusYoY % Change
    Population
    		27,800-10.9%
    % Under 18
    		9.9%16.5%
    % Seniors
    		9.9%32.0%
    % WFH
    		16.2%189.3%
    % w/ College Degree
    		65.3%6.4%
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    As of the latest ACS Survey released in 2023, Urbana, IL is a predominantly white area, with 54.0% of the population identifying as white. The white population has grown by 0.2% in the last 5 years. The second most common race or ethnicity in Urbana, IL is asian, making up 16.5% of the population. Foreign-born residents account for 19.6% of the population in Urbana, IL, and this percentage has decreased by 18.7% as of the ACS Survey 5 years prior, suggesting fewer immigrants are calling the area home.

    Race and Ethnicity

    MetricLatest Census5-Year % Change
    % White
    		54.0%0.2%
    % Black
    		16.2%17.4%
    % Hispanic
    		9.0%30.4%
    % Asian
    		16.5%-26.7%
    % Foreign Born
    		19.6%-18.7%
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    Mortgage and Risk — Urbana, IL

    According to HUD data as of 2023, there were 163 mortgage originations in Urbana, IL, of which 91.0% of loans were conventional mortgages. The average loan-to-value was 78.0%, with 20.0% above 90% LTV (very high). This implies large mortgage risk in Urbana, IL. Investor activity is high, as 20.0% of loans were by investors. 6.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.

    Mortgages

    MetricZip Code Average
    Total Loan Originations
    		163
    % Conventional Loans
    		91.0%
    % Government Loans
    		9.0%
    % Investor Loans
    		20.0%
    % Second Loans
    		1.0%
    % Cash Out Refinance
    		6.0%
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    Rentals and Section 8 — Urbana, IL

    As of 2024, the percent of homes in Urbana, IL under the Section 8 program is 6.8%. This is considered low, suggesting that the neighborhood is sparsely composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. 1-bedroom and 2-bedroom units appear to be good home sizes to consider for Section 8 housing in Urbana, IL, because HUD payments exceed market rent, while 3-bedroom and 4-bedroom units do not.

    Section 8 Market Size

    Total Units under HUD
    		514
    Total Units Section 8
    		514
    % Rentals under Section 8
    		6.8%
    % Occupied Section 8
    		84.7%

    Section 8 Opportunity

    Home SizeHUD PremiumMarket RentMax HUD Rent
    1 Bedroom$70$800$870
    2 Bedroom$40$990$1,030
    3 Bedroom-$160$1,500$1,340
    4 Bedroom-$480$1,850$1,370

    Affordability — Urbana, IL

    Home Price to Income Ratio

    MetricZip Code Average
    Home Price to Income Ratio4.1
    Median Home Price$181,000
    Median Household Income$37,900

    Urbana, IL — ZIP Code Boundary Map

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    Nearby ZIP Codes

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    61820

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    Frequently Asked Questions