Champaign-Urbana IL › Market Report
Champaign-Urbana IL Housing Market Report 2026
TL;DR
According to Zillow (Feb 2026), Champaign-Urbana Metro ZHVI is $226,978 (+5.0% YoY); Champaign city $199,076 (+3.3%); Urbana city $168,903 (+4.8%). Per Redfin (Feb 2026), Champaign County median sale price is $230,000 (+4.3%). Transfer tax: 0.15% combined — $300 on $200K. Note: the Champaign County Clerk's website shows "1.5%" — that is a decimal-point typo; the correct rate is 0.15% per 35 ILCS 200/31-10 + 55 ILCS 5/5-1031.
Champaign-Urbana Key Market Metrics (Feb 2026)
The Champaign-Urbana MSA is a single-county metropolitan area anchored by the University of Illinois Urbana-Champaign. According to Zillow (Feb 2026), the metro-level ZHVI — the broadest measure of typical home values — stands at $226,978, up 5.0% year over year. This metro figure includes suburban Savoy, newer Research Park-adjacent construction, and communities across Champaign County that collectively sit above both cities' individual averages.
| Metric | Champaign City | Urbana City | Metro / County |
|---|---|---|---|
| Zillow ZHVI | $199,076 (+3.3%) | $168,903 (+4.8%) | $226,978 (+5.0%) |
| Redfin Median Sale Price | $243,000 (+2.9%) | $175,000 ⚠️ | $230,000 (+4.3%) |
| Pending Timeline | — | ~5 days | ~8 days |
| RDC Hotness Rank | — | — | #77 nationally |
| FRED Listing Price (Sep 2025) | — | — | $272,450 |
⚠️ Urbana's Redfin figure (-30.0% YoY) reflects a thin sample market with high month-to-month volatility. Per Zillow (Feb 2026), Urbana's ZHVI trend (+4.8% YoY) is the more reliable indicator of actual price direction. Do not interpret the Redfin Urbana figure as a 30% price collapse.
Note: ZHVI (Zillow Home Value Index) is a smoothed estimate of typical home values — it is NOT a median sale price. Redfin reports actual transaction medians. Use county-level Redfin ($230,000) as the primary transaction benchmark and metro ZHVI ($226,978) as the trend indicator. Per Redfin (Feb 2026) and Zillow (Feb 2026), these figures are from the same data vintage.
Champaign vs. Urbana — Why the Prices Differ
Champaign city trades at a premium to Urbana city for structural reasons that have nothing to do with short-term market conditions. Champaign's housing stock is newer on average — according to NeighborhoodScout, approximately 11.29% of Champaign's housing stock pre-dates 1939, compared to a higher proportion in Urbana's University District and Downtown. Champaign also hosts the Research Park's southwest corridor and Savoy-adjacent newer construction, which pulls the city-level average upward.
Urbana's lower price point reflects its older housing stock (University District pre-war homes, Crystal Lake Park 1950s ranches, South Urbana working-class neighborhoods) and the concentrated effect of UIUC grad-student rental demand, which keeps rental yields high but sale values lower relative to comparable Champaign properties. The county seat — and all legal infrastructure — is in Urbana at 101 E. Main Street.
| Factor | Champaign | Urbana |
|---|---|---|
| ZHVI (Feb 2026) | $199,076 | $168,903 |
| Population | 89,996 (2024 ACS) | ~39,831 (2024 ACS) |
| Pre-1939 Housing % | ~11.29% | Higher (University District) |
| County Seat / Courts | No | Yes — 101 E. Main St. |
| Primary Character | Growing college town, Research Park tech | Historic county seat, UIUC-adjacent |
| Dominant Neighborhoods | Campustown, Stone Creek, Southwest | University District, Old West Urbana, Downtown |
Transfer Tax — Champaign County & Illinois State
According to the Illinois Department of Revenue (tax.illinois.gov), the state real estate transfer tax is $0.50 per $500 of consideration under 35 ILCS 200/31-10 — seller pays by custom. Per 55 ILCS 5/5-1031, Champaign County adds $0.25 per $500 (Atlas verified via Champaign County Ordinance 96). Neither the City of Champaign nor the City of Urbana imposes a municipal real estate transfer tax (both ATG-404 confirmed). Total combined rate: $0.75/$500 (0.15% of sale price).
⚠️ Common Misconception: 1.5% vs. 0.15%
The Champaign County Clerk's website states: "Real Estate Transfer tax assessed in the amount of 1.5% of the value of the property." This is a decimal-point typo on an official .gov website. The actual rate is 0.15% — a 10x error.
The Clerk's own math confirms the correct rate: "Of this, 2/3 is given to the State of Illinois. 1/3 remains in the County." Illinois state rate = $0.50/$500. County rate = $0.25/$500. Combined = $0.75/$500. $0.50/$0.75 = 2/3 (state share). $0.25/$0.75 = 1/3 (county share). That math works at 0.15% total — not 1.5%.
Per Champaign County Clerk (retrieved April 2026), 35 ILCS 200/31-10, and 55 ILCS 5/5-1031, the correct combined state + county transfer tax is 0.15% ($300 on a $200,000 sale), not 1.5% as stated on the Clerk's website.
Source: champaigncountyclerkil.gov/recorder-deeds/about-office; tax.illinois.gov/research/taxinformation/property/realestate.html; Champaign County Ordinance 96 (champaigncountyclerk.com/countyboard/ordinances/o00001_01000/o00096.pdf)
| Sale Price | IL State ($0.50/$500) | Champaign Co. ($0.25/$500) | Municipal | Total |
|---|---|---|---|---|
| $168,903 (Urbana ZHVI) | $168.90 | $84.45 | $0 | $253.35 |
| $199,076 (Champaign ZHVI) | $199.08 | $99.54 | $0 | $298.61 |
| $200,000 (round example) | $200.00 | $100.00 | $0 | $300.00 |
| $230,000 (county Redfin median) | $230.00 | $115.00 | $0 | $345.00 |
| $243,000 (Champaign Redfin median) | $243.00 | $121.50 | $0 | $364.50 |
When you sell to USA Home Buyers, we cover all closing costs — transfer taxes, recording fees at the Champaign County Recorder (1776 E. Washington Street, Urbana IL 61802, phone 217-384-3774), and title/settlement fees. Seller receives the agreed net price with no deductions at closing.
Champaign-Urbana vs. Other Illinois Markets
| Factor | Champaign-Urbana | Springfield | Rockford |
|---|---|---|---|
| Metro ZHVI | $226,978 | $163,198 | $142,859 |
| County Median Sale | $230,000 (+4.3%) | $187,000 (+23%) | $170,000 (+17.2%) |
| RDC Hotness Rank | #77 | #10 | #11 |
| Economy Driver | UIUC + Research Park | State government | Manufacturing/diversified |
| Foreclosure Timeline | 12-16 months | 12-15 months | 14-20 months |
| Municipal Transfer Tax | $0 (none) | $0 (none) | $0 (none) |
The UIUC Market Dynamic — What Sets C-U Apart
According to UIUC (illinois.edu), fall 2024 enrollment was approximately 57,000 students — a figure larger than the entire City of Urbana's population. This creates a housing market that behaves unlike any other downstate Illinois metro. The academic calendar drives a predictable May-August motivated-seller window as departing faculty and finishing PhD students try to sell before the next academic year begins.
The Research Park (researchpark.illinois.edu), home to 100+ tech companies including State Farm's innovation lab, Abbott, and Caterpillar Digital, adds a second demand driver: Research Park employment is more volatile than UIUC's academic employment — when startup funding ends or a company is acquired, affected employees need to sell quickly to relocate to their next opportunity.
Per the Champaign-Urbana Association of REALTORS (misturat.com, 2025 annual data), Champaign city full-year 2025 median was $237,500 (+1.1%) and Urbana city was $225,000 (+13.5%). These REALTOR association figures diverge from Redfin's monthly snapshots — the discrepancy reflects different sample periods and methodologies.
Cash Offer Range — Champaign-Urbana IL
| Scenario | Typical Range | Notes |
|---|---|---|
| Standard cash offer | 68-76% of FMV | Standard IL investor range for Champaign-Urbana price tier |
| Distressed / major repairs | 60-68% of FMV | Common in pre-1940 University District and South Urbana stock |
| Clean, well-maintained | 72-80% of FMV | Research Park-adjacent newer construction; Southwest Champaign ranches |
On the $230,000 county Redfin median, a 68-76% range = $156,400-$174,800. On the Champaign ZHVI of $199,076, that's $135,372-$151,298. Actual offer depends on condition, neighborhood, and liens. We cover all closing costs — zero deductions at closing.
Data Sources
- • Zillow ZHVI — Champaign city, Urbana city, Metro (Feb 2026)
- • Redfin — Champaign city, Urbana city, Champaign County (Feb 2026)
- • FRED MEDLISPRI16580 (Sep 2025 listing price)
- • Champaign-Urbana Association of REALTORS / misturat.com (2025 annual)
- • ATG tax-ordinance directory (municipal transfer tax verification)
- • Champaign County Clerk / Recorder (1776 E. Washington, Urbana)
- • 35 ILCS 200/31-10; 55 ILCS 5/5-1031 (transfer tax statutes)
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