Champaign, Illinois Housing Market Prices
Champaign Home Prices and Rent at a Glance
The median home price (often called the average home price), rent costs, affordability metrics, and housing stock characteristics for this housing market.
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Median home price 12% below the Illinois median$132,523
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Median rent 13% below the Illinois median$1,104
Housing Market Overview
| Metric | Champaign | Illinois Avg | US Average |
|---|---|---|---|
| Median Home Price | $132,523 | $149,936 | $248,835 |
| Price Trend (Annual %) | 8.8% | 2.5% | 7.5% |
| Median Gross Rent | $1,104 | $1,274 | $1,407 |
| Rent Trend (Annual %) | 3.4% | 4.1% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Champaign is about 12% lower than in Illinois. Rent is about 13% lower than the Illinois average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2024
Median Rent Prices, 2015-2024
Both home prices and rent are rising in Champaign, up about 8.8% and 3.4% a year respectively. Home prices are changing faster.
Median rent in Champaign rose about 32.1% between 2015 and 2024, from $836 to $1,104. Over the same span, rent in Illinois rose about 40.4%.
Affordability
On average, housing unit costs 2.6 yearly household incomes in Champaign.
Buying the median-priced home in Champaign costs roughly 10.0 years of rent at the median monthly rate. That is a relatively low price-to-rent ratio, which tends to favor buying over renting in Champaign. The price-to-rent ratio in Illinois is about 9.8.
| Metric | Champaign | Illinois Avg | US Average |
|---|---|---|---|
| Median Home Price | $132,523 | $149,936 | $248,835 |
| Median Household Income | $50,978 | $84,042 | $80,455 |
| Price-to-Income Ratio | 2.6 | 1.8 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Champaign rose about 74.1%, while median household income rose about 49.7% between 2009 and 2025 — the home price grew faster than income.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Champaign | Illinois Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 36.2% | 61.9% | 58.5% |
| Rental Rate | 51.9% | 30.4% | 31.2% |
| Vacancy Rate | 11.9% | 7.7% | 10.2% |
| Median Tenure (years) | 9.0 | 16.0 | 15.0 |
| Median Year Moved In | 2017 | 2010 | 2011 |
Champaign has a homeownership rate of 36.2%, lower than the Illinois average of 61.9%. Its housing vacancy rate is 11.9%, compared with 7.7% in Illinois.
Housing Stock
| Metric | Champaign | Illinois Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.18 people | 2.46 people | 2.53 people |
| Median Structure Built Year | 1980 | 1969 | 1978 |
| Median Number of Rooms | 4.9 | 5.6 | 5.5 |
The typical housing unit in Champaign was built around 1980. On average, 2.2 people live in a home with about 4.9 rooms, staying for about 9.0 years on average.
Champaign, IL Housing Compared With Nearby Cities
How Champaign, IL compares with the 1 cities closest to it.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| Champaign, IL | 75,194 | $132,523 #1/2 | $1,104 #1/2 | 41.1% #1/2 |
| Urbana, IL | 31,638 | $76,801 | $982 | 39.3% |
Frequently Asked Questions
Common questions about the housing market in Champaign, Illinois.
What is the median home price in Champaign, Illinois?
The median home price in Champaign, Illinois is $132,523, lower than the Illinois average of $149,936.
What is the average home price in Champaign, Illinois?
The typical home price in Champaign, Illinois, reported as the median sale price, is $132,523. The median is used instead of a mathematical average because it is not skewed by a small number of very expensive or very cheap homes, so it better reflects what a typical buyer pays.
What is the median rent in Champaign, Illinois?
The median gross rent in Champaign, Illinois is $1,104 per month, lower than the Illinois average of $1,274.
What was the median gross rent in Champaign in 2020?
In 2020, the median gross rent in Champaign, Illinois was $899 per month.
What is the price-to-rent ratio in Champaign, Illinois?
The price-to-rent ratio in Champaign, Illinois is about 10.0, meaning it would take roughly 10.0 years of rent payments at the median rent to equal the median home price. That is a relatively low price-to-rent ratio, which tends to favor buying over renting in Champaign.
Are home prices or rent rising faster in Champaign, Illinois?
Both home prices and rent are rising in Champaign, up about 8.8% and 3.4% a year respectively. Home prices are changing faster.
What is the homeownership rate in Champaign, Illinois?
36.2% of households in Champaign, Illinois own their home, lower than the Illinois average of 61.9%.
What is the vacancy rate in Champaign, Illinois?
The housing vacancy rate in Champaign, Illinois is 11.9%, higher than the Illinois average of 7.7%.
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