Market Overview
Home Prices in Champaign, IL
The median home value in Champaign, IL is $241,516 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's up 4.9% compared to a year ago and up 4.8% from two years prior.
Compared to the U.S. national median of $410,000, homes in Champaign are priced41% below average. Champaign is part of the Champaign-Urbana, IL metro area.
Over the past five years, Champaign home values have risen by approximately35.7%, reflecting strong long-term appreciation in this market.
Price History
Champaign Home Price Trend
City Comparison
Champaign vs. National Median
At $241,516, homes in Champaign cost 41% below the national median of $410,000. This makes Champaign a relatively affordable market for buyers seeking value.
Affordability
What Does It Cost to Buy in Champaign?
20% Down Payment
$48,303
on $241,516
Monthly P&I
$1,260/mo
30-yr @ 6.8%
Total Monthly Est.
~$1,600/mo
incl. taxes & insurance
Income Needed
$64,000
gross annual (30% rule)
10% Down Option
$24,152
+ PMI applies
Loan Amount (20% dn)
$193,213
at current rates
Estimates assume a 30-year fixed mortgage at 6.8%. Monthly total includes estimated property taxes and homeowner's insurance. Actual costs vary.
FAQ
Frequently Asked Questions
What is the average home price in Champaign, IL?
The median home value in Champaign is $241,516 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's up 4.9% year-over-year.
How much have home prices changed in Champaign?
Over the past year, home values in Champaign have increased by 4.9%. Over five years, prices have risen approximately 35.7%.
How much do I need to earn to buy a home in Champaign?
To comfortably afford the median home price of $241,516 with a 20% down payment ($48,303) at today's rates (6.8%), you'd need a gross annual income of approximately $64,000. This assumes keeping total housing costs at or below 30% of gross income.
How does Champaign compare to the national average home price?
The national median home value is approximately $410,000. At $241,516, homes in Champaign are 41% below the national average.
What metro area is Champaign part of?
Champaign is part of the Champaign-Urbana, IL metropolitan area. Home prices and market conditions can vary across the broader metro region.