The typical owner-occupied home in Urbana is worth about $98,900, 55% below the Indiana median of $218,200 and 70% below the national median of $332,700. The median household earns $37,829 a year, so the median home costs 2.6 times the median income (3.0 times for Indiana). 81% of occupied homes here are lived in by their owners, and 44% of those owners still have a mortgage.
Urbana at a glance
| Urbana | Indiana | U.S. | |
|---|---|---|---|
| Median home value | $98,900 | $218,200 | $332,700 |
| Median property tax paid per year | – | $1,614 | $3,119 |
| Median household income | $37,829 | $71,957 | $80,734 |
| Homes lived in by their owners | 81% | 71% | 65% |
| Owner homes with a mortgage | 44% | 64% | 61% |
| Median monthly costs, owners with a mortgage | $1,078 | $1,404 | $1,963 |
| Those costs as a share of the owners' income | 19.0% | 18.1% | 21.0% |
| Median rent | – | $1,062 | $1,413 |
| Median year homes were built | 1952 | 1976 | 1980 |
| Vacant homes | 0.0% | 8.8% | 10.1% |
| Population | 116 | 6,851,073 | 334,922,499 |
What a typical home costs per month in Urbana
At this week's average 30-year rate of 7.11%, buying the median Urbana home of $98,900 with 20% down costs about $664 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $829, because the loan is bigger and FHA adds mortgage insurance.
Lenders usually want housing costs under about 28% of gross income, which means an income of roughly $28,462 for the 20%-down payment. That payment is 21% of the median Urbana household income of $37,829; at that income and 20% down, the 28% guideline points to a home of about $131,000.
| Down payment | $19,780 |
|---|---|
| Loan amount | $79,120 |
| Principal and interest | $532 |
| Property taxes (1.10% a year) | $91 |
| Homeowners insurance (our estimate, 0.5% a year) | $41 |
| PMI | $0 |
| Total per month | $664 |
Change the numbers in the calculator
| Down payment | $3,462 |
|---|---|
| Loan amount | $97,109 |
| Principal and interest | $653 |
| Property taxes (1.10% a year) | $91 |
| Homeowners insurance (our estimate, 0.5% a year) | $41 |
| FHA mortgage insurance | $44 |
| Total per month | $829 |
Change the numbers in the calculator
Questions about home buying in Urbana
What is the median home value in Urbana?
About $98,900 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
What income do you need to buy a home in Urbana?
For the median home with 20% down at 7.11%, the payment is about $664 a month. Keeping that under 28% of gross income takes about $28,462 a year.
More about Urbana
- Mortgage Refinance in Urbana
- Debt Relief in Urbana
- Home Equity Loans in Urbana
- Guides and quotes for mortgage refinance on our sister site, MortgageRefinance.com
Sources: U.S. Census Bureau, American Community Survey 2020–2024 5-year estimates; Freddie Mac Primary Mortgage Market Survey, week of November 12, 2026. Estimates for small places have wide margins of error. About our data