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Featured local agent — Urbana, IL
Sarah Mitchell
Compass Real Estate · Urbana, IL
“Your trusted relocation specialist since 2009. 350+ homes sold. Zero-pressure, data-first approach.”
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Urbana, IL Housing Market & Real Estate
Housing market overview · Updated monthly ·
$221,250median sale price
How is the Urbana, IL housing market right now?
The median home sale price in Urbana, IL is $221,250, down 3.3% year-over-year. Homes sell in an average of 47 days with 120 active listings. The market is currently a balanced market. (Source: Redfin monthly MLS data, as of May 2026 — the most recent Redfin release; Redfin publishes each month's data on a ~6-week lag.)
Is Urbana a buyer's or seller's market?
Urbana, IL is currently a balanced market, based on 3.3 months of supply and homes selling in about 47 days. How we determine this →
Homes sold
36
Last 12 weeks
Days on market
47
Average pace
Active listings
120
3.3 months supply
Sale-to-list
99.7%
Below asking
What does the Urbana housing market data show?
| Metric | Value |
|---|---|
| Median sale price | $221,250 |
| Median list price | $239,900 |
| Year-over-year price change | -3.3% |
| Average days on market | 47 days |
| Active inventory | 120 listings |
| Months of supply | 3.3 months |
| Sale-to-list price ratio | 99.7% |
| Median price per sq ft | $150/sq ft |
| Homes sold (latest month) | 36 |
| New listings (latest month) | 57 |
| Listings with a price cut | 12.5% |
| Market condition | Balanced market |
Source: Redfin · Updated monthly
How much do homes cost in Urbana by property type?
How the Urbana, IL market breaks down across single-family homes, condos, and townhouses.
| Property type | Median price | Price / sq ft | Homes sold | Days on market |
|---|---|---|---|---|
| Single-family | $236,450 | $153/sq ft | 26 | 45 days |
| Condo / Co-op | $155,250 | $135/sq ft | 6 | 48 days |
| Townhouse | $310,000 | $187/sq ft | 2 | 34 days |
Source: Redfin · Updated monthly
The Urbana housing market is currently classified as a balanced market with a median sale price of $221,250. Prices have fallen 3.3% compared to last year, with homes spending an average of 47 days on market, indicating 3.3 months of inventory.With limited inventory, homes sell quickly and buyers should be prepared to act decisively and competitively to secure a property.The price-to-income ratio of 4.6x provides context for how home values compare to local earning capacity.
Homes for sale in Urbana
There are currently 120 homes listed for sale in Urbana, Illinois. The median listing price is $240K.
Active listings
120
Homes on market
Median list price
$240K
Avg. days on market
47
Days until sale
New this week
57
Newly listed
Who lives in Urbana?
Population
38,447
Median income
$45,854/yr
Median age
26.7 years
Owner-occupied
34.7%
College grads
58.4%
Avg commute
14.3 min
Source: U.S. Census Bureau ACS
What are homes worth in Urbana?
Zillow home value
$209,777
Zillow rent index
$1,249/mo
Price-to-rent ratio
14.0x
Price-to-income
4.6x
Source: Zillow Research
What is it like to live in Urbana?
Urbana is a community of approximately 38K residents with a median age of 26.7 years.The median household income is $45,854, which represents a working-class community with solid middle-income opportunities. 58.4% of residents hold a bachelor's degree or higher, indicating a highly educated population.
Homeownership rates are at 34.7%, showing a blend of owner and renter-occupied properties. The average commute time is 14.3 minutes, which makes this an excellent choice for those seeking short commutes to employment centers.Overall, Urbana offers a balanced lifestyle with accessible home values relative to local income levels.
Which public schools serve Urbana?
13 schools tracked · 4,707 students
The largest public schools serving Urbana, IL by enrollment, drawn from the National Center for Education Statistics. School quality is a commonly cited factor in home-buying decisions — these are the campuses families in this area are most likely to encounter.
Urbana High School
Grades 9-12 · 1,207 students
Urbana Middle School
Grades 6-8 · 911 students
Dr Preston L Williams Jr Elem Sch
Grades K-5 · 517 students
Yankee Ridge Elem School
Grades K-5 · 461 students
Leal Elem School
Grades K-5 · 375 students
Thomas Paine Elem School
Grades K-5 · 362 students
University of Illinois High Sch
Grades 7-12 · 314 students
M L King Jr Elem School
Grades K-5 · 307 students
Source: National Center for Education Statistics, Common Core of Data directory. Updated annually. Ratings and test scores are not currently displayed.
Which cities are near Urbana, IL?
Want a head-to-head view? Compare Urbana side-by-side with any other U.S. city using our market-comparison tool.
Is Urbana a good real estate investment market?
For investors evaluating Urbana, the price-to-rent ratio of 14.0x suggests potential rental yield opportunity, making the market attractive for income-focused investors. The market has softened 3.3% year-over-year, potentially creating entry opportunities for strategic buyers.Use our rent vs. buy calculator to analyze whether owning or renting makes more financial sense based on Urbana's current market conditions and your specific situation. Estimate your monthly payment with the mortgage calculator using Urbana's median home price.
Frequently asked questions
What is the average home price in Urbana?
The median home sale price in Urbana is $221,250, down 3.3% from last year.
How long do homes stay on market in Urbana?
Homes typically spend 47 days on market before going under contract.
What is the median income in Urbana?
The median household income is $45,854 per year.
Is Urbana a buyer's or seller's market?
With 3.3 months of supply, Urbana is currently a balanced market.
What is the Zillow home value estimate for Urbana?
The Zillow Home Value Index (ZHVI) for Urbana is $209,777, representing the typical home value in the area.
What is the median condo price in Urbana?
The median condo/co-op sale price in Urbana, IL is $155,250, compared to $236,450 for a single-family home, based on the latest Redfin data.
How much does a single-family home cost in Urbana?
The median single-family home price in Urbana, IL is $236,450 (about $153 per square foot).
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