Housing in Urbana, IL is on the rise. The median value for a home in Urbana is $159,400, which is much lower than the US median value of $338,100. Despite this difference, housing in Urbana has been appreciating at an even higher rate than the US overall over the past year, with 8.72% growth compared to 8.27% nationally. This trend indicates that despite the lower home values in Urbana compared to other areas of the country, it's a great place to invest in housing right now due to its high rate of appreciation and potential for further growth.
The median home cost in Urbana is $159,400. Home appreciation the last 10 years has been 46.3%. Home Appreciation in Urbana is up 14.5%.
Average Age of Homes
- The median age of Urbana real estate is 42 years old
The Rental Market in Urbana
- Renters make up 56.0% of the Urbana population
- 7.2% of houses and apartments in Urbana, are available to rent
DID YOU KNOW
Buying a home is the biggest single purchase most people make during their lives. The second largest is most often an automobile.