Housing Market Overview
The median home price (often called the average home price), rent costs, affordability metrics, and housing stock characteristics for this housing market.
Median Home Price Map: Nearby Counties
Housing Market Overview
| Metric | Champaign County | Ohio Avg | US Average |
|---|---|---|---|
| Median Home Price | $172,655 | $130,696 | $242,182 |
| Price Trend (Annual %) | 18.1% | 6.8% | 8.2% |
| Median Gross Rent | $884 | $987 | $1,342 |
| Rent Trend (Annual %) | 3.7% | 4.2% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Champaign County is about 32% higher than in Ohio. Rent is about 10% lower than the Ohio average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2023
Median Rent Prices, 2015-2023
Both home prices and rent are rising in Champaign County, up about 18.1% and 3.7% a year respectively. Home prices are changing faster.
Median rent in Champaign County rose about 26.5% between 2015 and 2023, from $699 to $884. Over the same span, rent in Ohio rose about 35.4%.
Affordability
On average, housing unit costs 2.3 yearly household incomes in Champaign County.
Buying the median-priced home in Champaign County costs roughly 16.3 years of rent at the median monthly rate. That is a moderate price-to-rent ratio, where buying and renting are often similarly cost-effective in Champaign County. The price-to-rent ratio in Ohio is about 11.0.
| Metric | Champaign County | Ohio Avg | US Average |
|---|---|---|---|
| Median Home Price | $172,655 | $130,696 | $242,182 |
| Median Household Income | $74,190 | $69,785 | $78,145 |
| Price-to-Income Ratio | 2.3 | 1.9 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Champaign County rose about 65.4%, while median household income rose about 50.2% between 2009 and 2023 — 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 County | Ohio Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 70.3% | 61.4% | 58.2% |
| Rental Rate | 21.4% | 30.2% | 31.3% |
| Vacancy Rate | 8.2% | 8.4% | 10.6% |
| Median Tenure (years) | 17.0 | 16.0 | 15.0 |
| Median Year Moved In | 2009 | 2010 | 2011 |
Champaign County has a homeownership rate of 70.3%, higher than the Ohio average of 61.4%. Its housing vacancy rate is 8.2%, compared with 8.4% in Ohio.
Housing Stock
| Metric | Champaign County | Ohio Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.46 people | 2.38 people | 2.54 people |
| Median Structure Built Year | 1969 | 1970 | 1978 |
| Median Number of Rooms | 6.2 | 5.9 | 5.5 |
The typical housing unit in Champaign County was built around 1969. On average, 2.5 people live in a home with about 6.2 rooms, staying for about 17.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Champaign County, Ohio.
What is the median home price in Champaign County, Ohio?
The median home price in Champaign County, Ohio is $172,655, higher than the Ohio average of $130,696.
What is the average home price in Champaign County, Ohio?
The typical home price in %s, reported as the median sale price, is %s. 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 County, Ohio?
The median gross rent in Champaign County, Ohio is $884 per month, lower than the Ohio average of $987.
What was the median gross rent in Champaign County in 2020?
In 2020, the median gross rent in Champaign County, Ohio was $736 per month.
What is the price-to-rent ratio in Champaign County, Ohio?
The price-to-rent ratio in Champaign County, Ohio is about 16.3, meaning it would take roughly 16.3 years of rent payments at the median rent to equal the median home price. That is a moderate price-to-rent ratio, where buying and renting are often similarly cost-effective in Champaign County.
Are home prices or rent rising faster in Champaign County, Ohio?
Both home prices and rent are rising in Champaign County, up about 18.1% and 3.7% a year respectively. Home prices are changing faster.
What is the homeownership rate in Champaign County, Ohio?
70.3% of households in Champaign County, Ohio own their home, higher than the Ohio average of 61.4%.
What is the vacancy rate in Champaign County, Ohio?
The housing vacancy rate in Champaign County, Ohio is 8.2%, lower than the Ohio average of 8.4%.