Analytics built by: Location, Inc.
Raw data sources: American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data
With a population of 89,241, 35,300 total housing units (homes and apartments), and a median house value of $241,292, house prices in Champaign are solidly below the national average.
Single-family detached homes are the single most common housing type in Champaign, accounting for 43.85% of the city's housing units. Other types of housing that are prevalent in Champaign include large apartment complexes or high rise apartments ( 42.97%), duplexes, homes converted to apartments or other small apartment buildings ( 5.77%), and a few row houses and other attached homes ( 5.63%).
People in Champaign primarily live in small (one, two or no bedroom) single-family detached homes. Champaign has a mixture of owner-occupied and renter-occupied housing.
There is a lot of housing in Champaign built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Champaign built between 2000 and later ( 31.92%). A lesser amount of the housing stock also hails from between 1940-1969 ( 22.30%). There's also some housing in Champaign built before 1939 ( 10.97%).
Vacant housing appears to be an issue in Champaign. Fully 12.87% of the housing stock is classified as vacant. Left unchecked, vacant Champaign homes and apartments can be a drag on the real estate market, holding Champaign real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.
Some of the lowest real estate appreciation rates in America over the last ten years have been in Champaign, where house values have increased just 54.15%, which is annualized rate of 4.42%. This rate is lower than the appreciation rate found in 90% of the cities and towns in America.
NeighborhoodScout's data show that during the latest twelve months, Champaign's appreciation rate, at 5.37%, has been at or slightly above the national average. In the latest quarter, Champaign's appreciation rate has been 4.64%, which annualizes to a rate of 19.87%.
Importantly, NeighborhoodScout’s exclusive research found that Champaign's housing market shows one of the <a href="/blog/highest-appreciating-cities">top real estate appreciation rates in the U.S.A.</a> in the latest quarter, which may signal the city’s near-future real estate investment strength.
Relative to Illinois, our data show that Champaign's latest annual appreciation rate is lower than 80% of the other cities and towns in Illinois.
One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Champaign differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Champaign - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Champaign real estate investment or home purchase decisions.
$241,292
for Illinois
for nation
35,300
$1,543 / per month