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
With 42,311 people, 15,578 houses or apartments, and a median cost of homes of $161,487, Urbana real estate and house prices are near the national average for all cities and towns.
Large apartment complexes or high rise apartments are the single most common housing type in Urbana, accounting for 47.12% of the city's housing units. Other types of housing that are prevalent in Urbana include single-family detached homes ( 39.80%), duplexes, homes converted to apartments or other small apartment buildings ( 7.90%), and a few row houses and other attached homes ( 4.80%). Cities that are predominantly high-density buildings are relatively uncommon in the US. Because of the density, these types of cities are often walkable and compact, and often have a lively downtown.
Urbana is dominated by renter-occupied one, two, or no bedrooms apartments. 68.57% of Urbana's dwellings are rentals.
There is a lot of housing in Urbana 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 Urbana built between 1940-1969 ( 27.94%). A lesser amount of the housing stock also hails from between 2000 and later ( 17.49%). There's also some housing in Urbana built before 1939 ( 13.23%).
Vacant housing appears to be an issue in Urbana. Fully 13.04% of the housing stock is classified as vacant. Left unchecked, vacant Urbana homes and apartments can be a drag on the real estate market, holding Urbana 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.
Real estate appreciation rates in Urbana's have tracked to near the national average over the last then years, with the annual appreciation rate averaging -0.28% during the period.
Over the last year, Urbana appreciation rates have trailed the rest of the nation. In the last twelve months, Urbana's appreciation rate has been -1.62%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Urbana were at -2.09%, which equates to an annual appreciation rate of -8.09%.
Notably, Urbana's appreciation rate in the latest quarter is one of the lowest in America.
Relative to Illinois, our data show that Urbana's latest annual appreciation rate is lower than 90% 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 Urbana differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Urbana - 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 Urbana real estate investment or home purchase decisions.
|$768,001 - $1,024,000||0.3|
|$512,001 - $768,000||0.8|
|$409,001 - $512,000||4.3|
|$307,001 - $409,000||14.1|
|$205,001 - $307,000||20.0|
|$102,001 - $205,000||34.8|
|$51,001 - $102,000||21.0|
|$0 - $51,000||4.7|
|Value Relative to Nation||Value Relative to State|
|Time Period||Total Appreciation||Avg. Annual Rate||
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
2000 Q1 - 2017 Q1
|* 10 is highest|
|AGE OF Urbana HOMES|
|2000 or Newer||17.5|
|1970 - 1999||41.3|
|1940 - 1969||27.9|
|1939 or Older||13.2|
|TYPE OF Urbana HOMES|
|Small Apt. Buildings||7.9|
|SIZE OF Urbana HOMES|
|5 or more bedrooms||3.39|