Champaign, IL—61822
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 $321,000, with a year-over-year change of 4.2%. 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 | $321,000 | 4.2% |
| Single Family | $346,000 | 4.2% |
| Condos | $188,000 | 2.7% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $185,000 | 5.1% |
3 Bed | $267,000 | 3.9% |
4 Bed | $390,000 | 3.4% |
| 5 Bed | $518,000 | 2.0% |
% of Housing Stock
Rental Trends — Champaign, IL
As of July '25, Rentcast reports the average rent in Champaign, IL is $1,660, with a year-over-year rent change of -0.6%. Per bedroom, the median rent as of July '25 in Champaign, IL is studios: $1,560, 1-bedrooms: $1,190, 2-bedrooms: $1,410, 3-bedrooms: $1,840, 4-bedrooms: $2,780. The most common rental property sizes in Champaign, IL are 2-bedroom and 1-bedroom, accounting for 43.2% and 21.6% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,480 | $1,660 |
| Studio Rent | $1,560 | $1,560 |
| 1 Bed Rent | $1,120 | $1,190 |
| 2 Bed Rent | $1,350 | $1,410 |
| 3 Bed Rent | $1,900 | $1,840 |
| 4 Bed Rent | $3,200 | $2,780 |
% 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 45. This is a decrease of -5.0% 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 28.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $416,000 | -4.0% |
Listing Count | 106 | 22.0% |
| Listings as % of Homes | 0.5% | 22.0% |
Days on Market | 45 | -5.0% |
Demographics — Champaign, IL
As of the latest ACS Survey released in 2023, Champaign, IL has a population of 28,200, which has increased by 9.4% over the past 5 years. Champaign, IL is a moderately popular place for families, as children make up 24.2% of the population. The area has a highly educated workforce, with 58.0% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 14.2% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 28,200 | 9.4% |
% Under 18 | 24.2% | 0.4% |
% Seniors | 16.8% | 17.5% |
% WFH | 14.2% | 163.0% |
% w/ College Degree | 58.0% | 0.2% |
As of the latest ACS Survey released in 2023, Champaign, IL is a predominantly white area, with 57.3% of the population identifying as white. The white population has shrunk by 10.5% in the last 5 years. The second most common race or ethnicity in Champaign, IL is asian, making up 17.1% of the population. Foreign-born residents account for 17.6% of the population in Champaign, IL, and this percentage has increased by 8.6% 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 | 57.3% | -10.5% |
% Black | 13.6% | 12.4% |
% Hispanic | 5.5% | 61.8% |
% Asian | 17.1% | -1.2% |
% Foreign Born | 17.6% | 8.6% |
Mortgage and Risk — Champaign, IL
According to HUD data as of 2023, there were 385 mortgage originations in Champaign, IL, of which 88.0% of loans were conventional mortgages. The average loan-to-value was 70.0%, with 30.0% above 90% LTV (very high). This implies large mortgage risk in Champaign, IL. Investor activity is low, as 4.0% 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 | 385 |
% Conventional Loans | 88.0% |
% Government Loans | 12.0% |
% Investor Loans | 4.0% |
% Second Loans | 2.0% |
% 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 9.9%. 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 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 | 345 |
Total Units Section 8 | 345 |
% Rentals under Section 8 | 9.9% |
% Occupied Section 8 | 83.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $40 | $1,120 | $1,160 |
| 2 Bedroom | $30 | $1,350 | $1,380 |
| 3 Bedroom | -$100 | $1,900 | $1,800 |
| 4 Bedroom | -$1,370 | $3,200 | $1,830 |
Affordability — Champaign, IL
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 2.9 |
| Median Home Price | $321,000 |
| Median Household Income | $97,000 |