Single-family Foreclosures in Urbana, IL 61802

Current Market Conditions in Urbana, IL

Urbana's real estate market remains competitive, with demand driven by students, university staff, and families. Home prices have shown a gradual increase as more buyers seek properties in the region, creating a robust market for both buyers and sellers. Properties are often receiving multiple offers, emphasizing the desirability of the area.

Additionally, a rise in new constructions and renovations of older homes has contributed to a healthier market equilibrium, as the inventory is slowly catching up to the growing demand.

Rent Prices In Urbana, IL

With the expiration of certain local, state and federal housing-related restrictions and mandated programs, the rental market in Urbana, IL, is on a rollercoaster ride. The average rent price in Urbana, IL, is $1,387.00. Indeed, when looking to rent in Urbana, IL, you can expect to pay as little as $590.00 or as much as $4,120.00, with the average rent median estimated to be $1,290.00. The good news is that finding an affordable and desirable property to rent in Urbana, IL -- whether it’s apartments, townhomes, condominiums or single-family homes -- is made easier with knowledge of the local market and, of course, a little patience.