Mortgage payment estimates, closing cost breakdowns, and homebuying data for Champaign, Illinois.
Pre-filled with Champaign median home price and Illinois tax/insurance rates. Adjust for your property.
Estimated closing costs based on Illinois rates and fees applied to Champaign prices.
The median home price in Champaign is $195,000, 28% below the Illinois state median of $270,000. With a population of 88,302, Champaign is a smaller market where home prices tend to be more accessible than in many parts of Illinois.
Property taxes in Illinois average 2.07% annually. This higher-than-average tax rate means a $195,000 home in Champaign would carry roughly $336/month in property taxes alone — plan accordingly. Homeowners insurance in Illinois runs approximately $1,900 per year. This is within the normal range nationally.
Average rent in Champaign is $1,020/month. The price-to-rent ratio in Champaign is moderate, meaning the buy-vs-rent decision depends heavily on how long you plan to stay.
Champaign offers strong affordability. With median prices under $250K, first-time buyers have realistic paths to homeownership, especially combined with Illinois's IHDA 1stHomeIllinois program.