Champaign, IL Housing Market
AI-powered market intelligence for the Champaign-Urbana, IL metro area.
PropertyIQ Scores
Champaign, IL Market Analysis
Market Overview
Champaign, IL has a moderately strong housing market, reflected in a PropertyIQ Score of 76/100. The score is supported by 12-month home value momentum of 11.64% and a median days on market of 46 days, both suggesting solid buyer interest. However, the score is tempered by a 3-month home value momentum of -0.40% and a 20.2% share of listings with a price cut, indicating some short-term cooling.
The market is relatively affordable compared with state benchmarks. The median home value in Champaign is $240,904, below the state average of $299,900. At the same time, the rent index is $1,333, above the state average of $1,227, and the unemployment rate is 4.2%, below the state average of 5.1%. The main constraint is income: the median household income is $64,558, well below the state average of $81,702.
With 443 homes for sale and a median of 46 days on market, inventory is moderate rather than extremely tight. The 76/100 score captures a market with annual momentum and rental strength, but also with near-term price softness and income limitations.
Key Trends
First, annual and quarterly momentum are diverging. The 12-month home value momentum is 11.64%, the strongest score driver, but the 3-month momentum is -0.40%. The listed year-over-year dollar change is $19, which is hard to reconcile with 11.64% annual momentum; treated literally, it suggests almost no dollar appreciation, so the percentage momentum is the more reliable annual signal.
Second, rents are outperforming the state. The rent index of $1,333 is above the Illinois average of $1,227, even though local home values are below the state average. That points to healthy rental demand.
Third, affordability is tighter than the lower home price suggests. The median home value of $240,904 is below the state’s $299,900, but the median household income of $64,558 is also below the state’s $81,702. Once income is considered, affordability is only modestly better than the state benchmark.
Fourth, inventory and price-cut data show buyer-friendly conditions. There are 443 homes for sale, median days on market is 46, and 20.2% of listings have had a price cut, meaning sellers need competitive pricing and buyers have some negotiating room.
Who Is This Market For
This market suits first-time buyers seeking a lower purchase price than the state average. The median home value of $240,904 is well below $299,900, and with 443 homes for sale and 46 days on market, buyers have time to evaluate options. However, the median household income of $64,558 is below the state’s $81,702, so affordability is still a hurdle.
Investors may also find Champaign attractive because the rent index of $1,333 exceeds the state average of $1,227, and the unemployment rate of 4.2% is below the state’s 5.1%. These factors can support rental demand. Population growth data is not available, so long-term renter pool expansion cannot be verified from the provided numbers.
Move-up buyers may find negotiation opportunities, since 20.2% of listings have a price cut and the median time on market is 46 days. Still, the -0.40% 3-month momentum suggests they should not expect rapid short-term equity gains.
Outlook
The outlook is stable and moderate. The 11.64% 12-month home value momentum supports annual appreciation, but the -0.40% 3-month momentum and 20.2% price-cut share point to a recent slowdown. With 443 homes for sale and 46 days on market, inventory should help keep price growth measured. The rent index of $1,333 and unemployment rate of 4.2% provide demand support, while the median household income of $64,558 is likely to limit aggressive price increases. Population growth data is not available, so the outlook cannot depend on demographic expansion. Overall, the numbers suggest modest, steady performance rather than a sharp boom or correction.
AI-generated analysis based on current market data. Last updated August 24, 2026.
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Champaign, IL market data
Champaign, IL Housing Market Overview
Champaign, IL's median home value is $241K, up 11.6% over the past year. Homes here sell in a median 46 days. Its PropertyIQ Score of 76 sits well above the state average of 50, marking a market positioned to outperform its state over the next three years.
PropertyIQ tracks the Champaign, IL housing market through two complementary lenses: price momentum from Zillow home-value trends over 3 and 12 months, and demand pressure from how quickly homes sell and how often sellers cut prices, drawn from Realtor.com. The PropertyIQ Score distills these into one number that predicts how this IL market is set to perform against its state benchmark.
Midwestern housing markets are characterized by affordability and economic diversification. From manufacturing hubs undergoing tech-sector transitions to university towns with stable demand, the region offers value-oriented opportunities with lower entry costs than coastal markets. Within the Midwest, Champaign, IL's PropertyIQ Score of 76 ranks among the Midwest's stronger demand signals.
The PropertyIQ Score for the Champaign, IL market is built from four inputs: Zillow home-value momentum over twelve months, Zillow home-value momentum over three months, the median days listings spend on the market (Realtor.com), and the share of listings with a price cut (Realtor.com). The score runs on a 1 to 99 scale computed across all metro markets nationally and calibrated so 50 equals the state average — a score above 50 means this market is positioned to outperform its state, and a score below 50 means it is set to lag. Momentum here has been positive, with home values up 11.6% over the past year.
Explore the interactive map to see how Champaign, IL compares to neighboring metros, or view the full market dashboard for detailed analytics including time-series trends, score breakdowns, and AI-generated market reports.
Counties in the Champaign, IL metro area
ZIP codes in the Champaign, IL metro area
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Market data through July 2026. Sourced from Zillow, Realtor.com, Redfin, U.S. Census Bureau, FRED, BLS, and BEA. Per-statistic source and date shown above.
Frequently Asked Questions
Is Champaign, IL a good place to buy real estate in 2026?
PropertyIQ doesn't label markets simply good or bad. Instead, the PropertyIQ Score measures a market's demand momentum against its own state, where 50 marks the state average. Champaign, IL currently scores 76, a rising-momentum reading that leaves it positioned to outperform its state over the next three years. For buyers, strengthening demand usually means rising competition and firmer prices, so waiting can cost you negotiating room. Backing that up, the median home value here is $241K, up 11.6% over the past year. So whether Champaign, IL is right for you comes down to your goals: a rising-momentum market can favor long-term appreciation but offers less room to negotiate, while a cooling one hands buyers more leverage. Treat the score as a timing signal to weigh alongside your budget, holding period, and plans for the property, not a verdict on the market's quality.
What is the PropertyIQ Score for Champaign, IL?
Champaign, IL's PropertyIQ Score is 76, indicating rising momentum on a 1-to-99 scale. The score distills four transparent inputs into a single number: Zillow home-value momentum over the past 12 months, Zillow home-value momentum over the past 3 months, the median days homes spend on the market from Realtor.com, and the share of listings with a price cut, also from Realtor.com. Rising values and faster sales push the score up, while slow sales and frequent price cuts pull it down. The scale is calibrated so 50 equals the state average, meaning a score above 50 predicts the market will outperform its state over the next three years and a score below 50 predicts underperformance. PropertyIQ computes the score across every US market nationally, then recenters it against each state, so 76 places Champaign, IL above its state benchmark.
Are home prices in Champaign, IL rising or falling?
Home prices in Champaign, IL are rising. Over the past year, the median home value increased 11.6%, reaching $241K. Over the latest three months, values slipped 0.4%, a sign near-term demand is softening. PropertyIQ derives these figures from Zillow's home-value index, which tracks the typical value across the market rather than only the homes that happened to sell, giving a steadier read than a raw median sale price. Both the 12-month and 3-month momentum readings feed directly into the PropertyIQ Score, so this price trend is one of the core signals behind Champaign, IL's current score. Keep in mind that appreciation can vary widely by neighborhood and price tier across the metro area, so treat these figures as the market-wide baseline rather than a guarantee for any single property.
How quickly do homes sell in Champaign, IL?
In Champaign, IL, homes sell in a median of 46 days from listing to pending sale, based on Realtor.com market data. Median days on market is one of the clearest real-time reads on local demand: when homes move quickly, buyers are competing and sellers hold the advantage, while lengthening timelines signal cooling interest and more room to negotiate. Alongside sale speed, about 20% of active listings here have taken at least one price cut — a complementary demand gauge, since a rising share of reductions often precedes slower sales and softer prices. Both median days on market and the price-cut share feed directly into the PropertyIQ Score, where faster sales and fewer cuts push the score higher. As a general guide, medians under about 30 days indicate a brisk, competitive market, while medians well beyond 60 days point to buyers regaining leverage. Actual time on market still varies by price band, property type, and season, so treat the median as a market-wide baseline.
How current is this metro area data?
This Champaign, IL market data is refreshed on a monthly cycle, with the latest figures current through July 2026. PropertyIQ ingests fresh data every month from a range of authoritative sources: home values and rents from Zillow, days on market and price-cut activity from Realtor.com, additional housing signals from Redfin, demographic and housing-stock data from the U.S. Census Bureau, mortgage and macroeconomic series from FRED, and employment figures from the Bureau of Labor Statistics and the Bureau of Economic Analysis. The PropertyIQ Score itself is recomputed every month once the new source data lands, so the score and its four underlying inputs always reflect the most recent complete reporting period rather than a static snapshot. Because official housing data is typically released with a short lag, the current-through date usually trails the present by a few weeks, which is normal across the industry and not a sign the data is out of date.