Champaign, IL—61820
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 $173,000, with a year-over-year change of 5.5%. 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 | $173,000 | 5.5% |
| Single Family | $175,000 | 6.1% |
| Condos | $167,000 | 5.0% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $146,000 | 8.1% |
3 Bed | $190,000 | 5.6% |
4 Bed | $257,000 | 4.5% |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Champaign, IL
As of July '25, Rentcast reports the average rent in Champaign, IL is $1,220, with a year-over-year rent change of 13.0%. Per bedroom, the median rent as of July '25 in Champaign, IL is studios: $802, 1-bedrooms: $1,010, 2-bedrooms: $1,120, 3-bedrooms: $1,720, 4-bedrooms: $1,320. The most common rental property sizes in Champaign, IL are 2-bedroom and 1-bedroom, accounting for 36.7% and 29.0% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $995 | $1,220 |
| Studio Rent | $615 | $802 |
| 1 Bed Rent | $850 | $1,010 |
| 2 Bed Rent | $1,000 | $1,120 |
| 3 Bed Rent | $1,500 | $1,720 |
| 4 Bed Rent | $1,750 | $1,320 |
% 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 52. This is a decrease of -10.0% 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 10.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $217,000 | -8.0% |
Listing Count | 41 | 5.0% |
| Listings as % of Homes | 0.1% | 5.0% |
Days on Market | 52 | -10.0% |
Demographics — Champaign, IL
As of the latest ACS Survey released in 2023, Champaign, IL has a population of 38,500, which has remained stable by 0.9% over the past 5 years. Champaign, IL is a less popular place for families, as children make up 9.2% of the population. The area has a highly educated workforce, with 54.6% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 16.0% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 38,500 | 0.9% |
% Under 18 | 9.2% | 12.2% |
% Seniors | 4.8% | -2.0% |
% WFH | 16.0% | 400.0% |
% w/ College Degree | 54.6% | 10.1% |
As of the latest ACS Survey released in 2023, Champaign, IL is a predominantly white area, with 56.9% of the population identifying as white. The white population has shrunk by 4.7% in the last 5 years. The second most common race or ethnicity in Champaign, IL is asian, making up 17.9% of the population. Foreign-born residents account for 17.3% of the population in Champaign, IL, and this percentage has increased by 12.3% 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 | 56.9% | -4.7% |
% Black | 13.0% | -7.8% |
% Hispanic | 8.6% | 10.3% |
% Asian | 17.9% | 10.5% |
% Foreign Born | 17.3% | 12.3% |
Mortgage and Risk — Champaign, IL
According to HUD data as of 2023, there were 150 mortgage originations in Champaign, IL, of which 91.0% of loans were conventional mortgages. The average loan-to-value was 67.0%, with 19.0% above 90% LTV (elevated). This implies medium mortgage risk in Champaign, IL. Investor activity is high, as 26.0% of loans were by investors. 8.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 150 |
% Conventional Loans | 91.0% |
% Government Loans | 9.0% |
% Investor Loans | 26.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 8.0% |
Loan Activity
Rentals and Section 8 — Champaign, IL
As of 2024, the percent of homes in Champaign, IL under the Section 8 program is 4.0%. 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 and 3-bedroom units appear to be good home sizes to consider for Section 8 housing in Champaign, IL, because HUD payments exceed market rent, while 4-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 462 |
Total Units Section 8 | 462 |
% Rentals under Section 8 | 4.0% |
% Occupied Section 8 | 83.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $140 | $850 | $990 |
| 2 Bedroom | $170 | $1,000 | $1,170 |
| 3 Bedroom | $20 | $1,500 | $1,520 |
| 4 Bedroom | -$200 | $1,750 | $1,550 |
Affordability — Champaign, IL
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 4.6 |
| Median Home Price | $173,000 |
| Median Household Income | $31,000 |