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 a population of 11,547, 4,958 total housing units (homes and apartments), and a median house value of $116,361, house prices in Urbana are solidly below the national average.
Single-family detached homes are the single most common housing type in Urbana, accounting for 67.32% of the city's housing units. Other types of housing that are prevalent in Urbana include duplexes, homes converted to apartments or other small apartment buildings ( 13.63%), large apartment complexes or high rise apartments ( 13.39%), and a few row houses and other attached homes ( 3.24%).
The most prevalent building size and type in Urbana are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 51.42% owning and 48.58% renting.
The housing in Urbana was primarily built before 1939 ( 35.42%), making the housing stock in Urbana some of the oldest overall in America, although there is a range of ages of homes in Urbana. The next most important housing age is between 1970-1999 ( 29.33%), followed by between 1940-1969 ( 26.97%). There's also some housing in Urbana built between 2000 and later ( 8.29%).
Vacant housing appears to be an issue in Urbana. Fully 11.23% 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.
Urbana's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Urbana during the period has been just -1.10%, which is lower than 70% of US communities.
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 1.08%, 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 -0.60%, which equates to an annual appreciation rate of -2.39%.
Notably, Urbana's appreciation rate in the latest quarter is one of the lowest in America.
Relative to Ohio, our data show that Urbana's latest annual appreciation rate is lower than 70% of the other cities and towns in Ohio.
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.
|$778,001 - $1,038,000||0.0|
|$519,001 - $778,000||0.0|
|$415,001 - $519,000||0.0|
|$312,001 - $415,000||0.7|
|$207,001 - $312,000||7.8|
|$104,001 - $207,000||43.3|
|$52,001 - $104,000||39.7|
|$0 - $52,000||8.4|
|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||8.3|
|1970 - 1999||29.3|
|1940 - 1969||27.0|
|1939 or Older||35.4|
|TYPE OF Urbana HOMES|
|Small Apt. Buildings||13.6|
|SIZE OF Urbana HOMES|
|5 or more bedrooms||2.35|