Real Estate Investing in Urbana, Illinois (61802)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 61802 (Urbana, IL)? Our answer, based on the numbers below.
Solid choice — values are growing steadily and the market is stable enough to buy with confidence.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
- Elevated vacancy: 10.4% vacancy may signal weakening demand.
What’s happening in Urbana, IL (61802)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 61802 Urbana
ZIP 61802 inside Champaign County looks affordable on the surface — median value of $226K — but the discount exists for reasons that a careful buyer should understand before committing.
Distressed does not mean uninvestable. It means the margin for error is thinner. ZIP 61802 rewards the prepared, punishes the overconfident, and leaves the math unchanged either way.
Regionally, 61802 sits on the difficult end of the IL spectrum. The an appealing option for read — for disciplined operators — is that pricing reflects the difficulty.
A significant renter share of 47% in 61802 is not, on its own, a problem — but paired with below-average income and high mobility, it changes the operating playbook.
Strategically, 61802 can be a high-return sleeve of a diversified portfolio — but it should not be the whole portfolio, and it should not be someone's first deal.
Here's what matters if you're considering buying a home in Urbana:
Property Strategy for 61802
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $168,965 | $1,090 | 4.6% | +8.1% | $84,482 |
| 3BR | $213,179 | $1,400 | 4.7% | +8.5% | $71,060 |
| 4BR | $284,836 | $1,440 | 3.6% | +7.8% | $71,209 |
| 5BR | $431,163 | — | — | +7.6% | $86,233 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 61802 Compare?
| Metric | 61802 | Urbana | Champaign-Urbana, IL | Illinois |
|---|---|---|---|---|
| Home Value | $226,109 | $210,590 | N/A | $279,761 |
| 5-Year CAGR | 7.2% | 6.9% | N/A | 6.6% |
| Avg Rent | $1,312 | $1,269 | N/A | - |
| Cap Rate | 4.5% | 4.7% | - | - |
Similar ZIPs Within 25 Miles
Compare other nearby markets to see if a neighbor offers a better fit.
Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 61802 (Urbana, IL). Anonymous, moderated, never written by AI.
Do you own or manage rentals in ZIP 61802 (Urbana, IL)?
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Property managers serving Champaign County
Manage rentals here? List your business →Community Property Management offers quality and affordable apartments in Champaign-Urbana, including renovated units and various communities like 217 Neil and Hessel on the Park. summary from their website
Zindars Property Management offers property management services in Champaign & Urbana. summary from their website
Listings are shown for convenience — Repit doesn’t endorse or vet these companies. Ratings shown come only from email-verified visitors.
📊 Market Snapshot
| Home Value | $226,109 |
| Monthly Rent | $1,312 |
| Price-to-Rent | 14.4:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 7.0% |
| Cap Rate | 4.5% |
| 5-Year IRR | 11.8% |
📈 Home Appreciation
| 1-Year | +10.0% ▲ |
| 3-Year CAGR | +7.5% ▲ |
| 5-Year CAGR | +7.2% ▲ |
| 10-Year CAGR | +5.3% ▲ |
🏠 Rent Trends
| 1-Year | +2.1% ▲ |
| 3-Year CAGR | N/A |
| 5-Year CAGR | N/A |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (4.5%). Financing reduces your cash-on-cash return below the cap rate. Markets like this may still make sense as IRR plays — factoring in appreciation, depreciation, and a future refinance when rates drop.
Run an IRR Analysis →⚠️ Risk Signals
Composite view of factors that can impact a ZIP's stability and your downside risk.
Demographics in 61802
Population: 19,502
Crime & Safety
Crime & Safety Data Coming Soon
We're integrating comprehensive crime statistics including violent crime rates, property crime, and safety scores to help you make informed investment decisions.
Expected: Q1 2025
🎓 Schools in 61802
Schools in This ZIP Code
About Repit School Scores
Traditional school ratings rely heavily on standardized test scores, which often reflect family income more than school quality. Repit takes a different approach.
We evaluate schools based on factors that research shows actually impact educational outcomes:
- Class Size — Smaller classes mean more individual attention
- School Funding — Resources available for programs, staff, and facilities
- Community Factors — Neighborhood characteristics that influence student success
- School Environment — Size, type, and structure
Scores are updated annually using federal education data.
🎓 Nearby Colleges & Universities
Investor Insight: With 3,857 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
How much should I expect to pay for a home in Urbana, IL?
Typical homes in Urbana, IL go for around $226K. The 5-year CAGR of 0.0% measured price movement.
How strong is tenant demand in Urbana, IL?
Working renters make up the core of the Urbana, IL tenant base. The pool is reasonable for investors targeting long-term holds.
Can owner-occupants cash flow in Urbana, IL?
Urbana, IL offers a challenging house-hacking opportunity. Small multifamily or rent-by-the-room plays can pair well with the $1,312/mo rent level.
How should investors approach Urbana, IL?
In Urbana, IL the substantial play is typically careful cash-flow rentals with hands-on management. The combination of $226K prices and $1,312/mo rents suits that approach.
How strict are landlord regulations in Urbana, IL?
Rental owners in Urbana, IL deal with a landlord-friendly legal framework. Most standard eviction processes run on reasonable timelines.
You know 61802 now. You don’t know where it ranks.
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How 61802 ranks in Champaign-Urbana, IL
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