Champaign, IL—61821
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Champaign, IL
As of Oct '25, the median home price in Champaign, IL is $196,000, with a year-over-year change of 6.0%. This indicates that home prices in Champaign, IL are increasing. According to Zillow, the 1-year price projection is 1.1%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $196,000 | 6.0% |
| Single Family | $198,000 | 6.5% |
| Condos | $187,000 | 9.4% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $163,000 | 7.2% |
3 Bed | $196,000 | 5.4% |
4 Bed | $271,000 | 4.2% |
| 5 Bed | $373,000 | 3.0% |
% of Housing Stock
Rental Trends — Champaign, IL
As of July '25, Rentcast reports the average rent in Champaign, IL is $1,380, with a year-over-year rent change of 11.3%. Per bedroom, the median rent as of July '25 in Champaign, IL is studios: $717, 1-bedrooms: $859, 2-bedrooms: $1,080, 3-bedrooms: $1,600, 4-bedrooms: $2,040. The most common rental property sizes in Champaign, IL are 2-bedroom and 3-bedroom, accounting for 36.2% and 31.8% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,360 | $1,380 |
| Studio Rent | $800 | $717 |
| 1 Bed Rent | $750 | $859 |
| 2 Bed Rent | $1,050 | $1,080 |
| 3 Bed Rent | $1,500 | $1,600 |
| 4 Bed Rent | $1,760 | $2,040 |
% of Rental Stock
Property Listings — Champaign, IL
As of Oct '25, Realtor.com reports that the median days on market for a home in Champaign, IL is 38. This is a decrease of -7.0% 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 34.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $224,000 | -2.0% |
Listing Count | 83 | 8.0% |
| Listings as % of Homes | 0.4% | 8.0% |
Days on Market | 38 | -7.0% |
Demographics — Champaign, IL
As of the latest ACS Survey released in 2023, Champaign, IL has a population of 28,800, which has decreased by -5.7% over the past 5 years. Champaign, IL is a moderately popular place for families, as children make up 21.2% of the population. The area has a highly educated workforce, with 49.5% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 12.7% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 28,800 | -5.7% |
% Under 18 | 21.2% | -2.3% |
% Seniors | 17.3% | 15.3% |
% WFH | 12.7% | 202.4% |
% w/ College Degree | 49.5% | 11.2% |
As of the latest ACS Survey released in 2023, Champaign, IL is a predominantly white area, with 56.8% of the population identifying as white. The white population has shrunk by 9.7% in the last 5 years. The second most common race or ethnicity in Champaign, IL is black, making up 23.7% of the population. Foreign-born residents account for 14.0% of the population in Champaign, IL, and this percentage has increased by 41.4% as of the ACS Survey 5 years prior, suggesting more immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 56.8% | -9.7% |
% Black | 23.7% | -1.3% |
% Hispanic | 7.8% | 32.2% |
% Asian | 8.0% | 66.7% |
% Foreign Born | 14.0% | 41.4% |
Mortgage and Risk — Champaign, IL
According to HUD data as of 2023, there were 474 mortgage originations in Champaign, IL, of which 87.0% of loans were conventional mortgages. The average loan-to-value was 74.0%, with 32.0% above 90% LTV (very high). This implies large mortgage risk in Champaign, IL. Investor activity is low, as 11.0% of loans were by investors. 5.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 474 |
% Conventional Loans | 87.0% |
% Government Loans | 13.0% |
% Investor Loans | 11.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 5.0% |
Loan Activity
Rentals and Section 8 — Champaign, IL
As of 2024, the percent of homes in Champaign, IL under the Section 8 program is 17.7%. This is considered high, suggesting that the neighborhood is heavily 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 Champaign, IL, because HUD payments exceed market rent, while 3-bedroom and 4-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 860 |
Total Units Section 8 | 860 |
% Rentals under Section 8 | 17.7% |
% Occupied Section 8 | 85.1% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $220 | $750 | $970 |
| 2 Bedroom | $100 | $1,050 | $1,150 |
| 3 Bedroom | $0 | $1,500 | $1,500 |
| 4 Bedroom | -$240 | $1,760 | $1,520 |
Affordability — Champaign, IL
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 2.4 |
| Median Home Price | $196,000 |
| Median Household Income | $69,300 |