Home Values in Champaign, Illinois — 2026 Market Report
Updated March 2026 | Seller's Market | +1.1% YoY
The median home value in Champaign, Illinois is $175,000 as of March 2026, which is below the national median of $400,000. Home values in Champaign have increased by 1.1% over the past year and 5.6% over the last five years. With a population of 88,302 and a median household income of $42,250, the price-to-income ratio stands at 4.1x, making Champaign affordable for the average household.
Champaign Housing Market Conditions
| Metric | Champaign | National Avg |
|---|---|---|
| Median Home Value | $175,000 | $400,000 |
| YoY Appreciation | +1.1% | +3.8% |
| 5-Year Appreciation | +5.6% | +22.4% |
| Price per Sq Ft | $61 | $222 |
| Days on Market | 67 days | 45 days |
| Months of Supply | 2 | 3.5 |
| List-to-Sale Ratio | 97.2% | 98.5% |
| Monthly Homes Sold | 70 | — |
| Foreclosure Rate | 0.18% | 0.3% |
Home Value Trends in Champaign
A homeowner who purchased at the median price of $165,720 five years ago in Champaign would have gained approximately $9,280 in equity, representing a 5.6% return on investment. Over the past year alone, the typical homeowner gained $1,904 in home equity.
Affordability in Champaign, IL
With a median household income of $42,250 and a median home price of $175,000, the price-to-income ratio in Champaign is 4.1x. A ratio below 3x is generally considered affordable, while above 5x indicates significant affordability challenges. The average monthly rent of $892 compared to estimated monthly ownership costs of $1,133 gives a rent-vs-buy ratio of 1.27. In Champaign, renting may be more cost-effective in the short term, though homeownership builds long-term wealth.
Property Taxes in Champaign
The effective property tax rate in Illinois is 2.07%. On a home valued at $175,000, the estimated annual property tax bill is $3,623, or approximately $302/month. Property taxes are an important factor in the total cost of homeownership and can significantly impact affordability. The cost of living index in Champaign is 87.5 (100 = national average), indicating living costs are below the national average.
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Open Mortgage CalculatorFrequently Asked Questions
What is the median home value in Champaign, IL?
The median home value in Champaign, Illinois is $175,000 as of March 2026. Home values have changed +1.1% over the past year, with a 5-year appreciation of 5.6%.
Is Champaign a buyer's or seller's market?
Champaign is currently a seller's market with 2 months of housing supply. Homes spend an average of 67 days on market, and the list-to-sale price ratio is 97.2%. Low inventory gives sellers an advantage.
Are home values going up in Champaign?
Yes, home values in Champaign have increased by 1.1% over the past year. The 5-year appreciation rate is 5.6%, meaning a home worth $165,720 five years ago is now worth $175,000.
Is it better to rent or buy in Champaign?
The average monthly rent in Champaign is $892, while estimated monthly homeownership costs are approximately $1,133. The price-to-rent ratio is 16.3. Current conditions suggest renting may be more affordable in the short term, though homeownership builds equity over time.
Home Values in Other Illinois Cities
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Disclaimer: Home value data for Champaign, Illinois is based on publicly available market data and estimates. Actual home values may vary based on property condition, location within the city, and current market conditions. Data is updated regularly but may not reflect the most recent transactions. Last updated: March 2026.