Champaign, IL
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Highest Appreciating Champaign Neighborhoods Since 2000




Champaign, IL Real Estate Data

Source & Methodology

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.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q1 2017. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2015 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

Champaign Housing Market Information

With 86,096 people, 33,088 houses or apartments, and a median cost of homes of $152,030, Champaign real estate and house prices are near the national average for all cities and towns.

Single-family detached homes are the single most common housing type in Champaign, accounting for 47.99% of the city's housing units. Other types of housing that are prevalent in Champaign include large apartment complexes or high rise apartments ( 37.20%), row houses and other attached homes ( 6.87%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 6.80%).

The most prevalent building size and type in Champaign are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 42.46% owning and 57.54% renting.

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 1940-1969 ( 28.63%). A lesser amount of the housing stock also hails from between 2000 and later ( 19.35%). There's also some housing in Champaign built before 1939 ( 12.49%).

Vacant housing appears to be an issue in Champaign. Fully 10.09% 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.

Champaign Home Appreciation Rates

Real estate appreciation rates in Champaign's have tracked to near the national average over the last then years, with the annual appreciation rate averaging -0.25% during the period.

Over the last year, Champaign appreciation rates have trailed the rest of the nation. In the last twelve months, Champaign's appreciation rate has been 0.57%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Champaign were at -2.09%, which equates to an annual appreciation rate of -8.09%.

Notably, Champaign's appreciation rate in the latest quarter is one of the lowest in America.

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.

Average Home Values

 

Median Home Value:
$152,030

Champaign, IL HOME PRICES

Value Range
> $1,031,000 0.3
$774,001 - $1,031,000 0.3
$516,001 - $774,000 0.7
$413,001 - $516,000 1.4
$309,001 - $413,000 5.0
$206,001 - $309,000 15.9
$103,001 - $206,000 54.2
$52,001 - $103,000 17.2
$0 - $52,000 5.0

Average for IL
Average for Nation

Value Relative to Nation Value Relative to State
49.1444978319466 41.1392405063291

Number Of Homes And Apartments:
33,088

Champaign Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
IL*
Compared To
America*
Latest Quarter:
2016 Q4 - 2017 Q1
Last 12 Months:
2016 Q1 - 2017 Q1
Last 2 Years:
2015 Q1 - 2017 Q1
Last 5 Years:
2012 Q1 - 2017 Q1
Last 10 Years:
2007 Q1 - 2017 Q1
Since 2000:
2000 Q1 - 2017 Q1
33.83% 1.70% 7 4
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,029 / per month

Homeownership Rate

Homeownership
Owners 42.46
Renters 57.54
Vacant 10.09

Housing Market Details

 

Age of Homes

AGE OF Champaign HOMES
2000 or Newer 19.4
1970 - 1999 39.5
1940 - 1969 28.6
1939 or Older 12.5

Types of Homes

TYPE OF Champaign HOMES
Single-Family 48.0
Townhomes 6.9
Small Apt. Buildings 6.8
Apt. Complexes 37.2
Mobile Homes 1.1
Other 0.0

Home Size

SIZE OF Champaign HOMES
No Bedroom 7.41
1 Bedroom 13.43
2 Bedrooms 27.40
3 Bedrooms 33.16
4 Bedrooms 15.21
5 or more bedrooms 3.39