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City · 8,968 residents · Champaign County, Illinois

Savoy , Illinois

In Savoy, a typical home is worth $320,300 and typical rent is $1,003 a month. Compared with all of Champaign County, the typical home value is 51% higher, typical household income is 44% higher, and the share of households that own their home is 5 points higher.

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  • Typical home value

    $320,300

    51% above the county

    22% above Illinois

    • Savoy
    • Champaign
    • Illinois

  • Typical rent

    $1,003a month

    5% below the county

    21% below Illinois

    • Savoy
    • Champaign
    • Illinois

  • Typical household income

    $91,966a year

    44% above the county

    10% above Illinois

    • Savoy
    • Champaign
    • Illinois

  • Households that own their home

    59%

    5 points above the county

    8 points below Illinois

    • Savoy
    • Champaign
    • Illinois

Source: U.S. Census Bureau, Average 2020–2024

Market now, with Zillow data

Zillow data
Typical home value
$353,829
2.3% more than 12 months ago
Typical rent
$1,409 a month

From Zillow (ZHVI/ZORI), September 2026. The Census figures above are 5-year averages (2020–2024).

Savoy is in Champaign County. The FHA loan limit ($541,287 for a one-unit home), the fair market rents and the help on this page are those of all of Champaign County. See the county

Data updated: October 1, 2026 11 official sources

Only here

What sets Savoy apart

What this place has that others do not, from public data, most unusual first.

  1. Nearby, in Rantoul, the typical home value is $118,200: 63% less than in Savoy ($320,300).

  2. The typical home in Savoy is worth $320,300, 51% more than in Champaign County as a whole ($211,500).

  3. The typical household income in Savoy is $91,966, 44% more than in Champaign County as a whole ($63,683).

  4. According to Zillow, in the 12 months to September 2026 the typical home value in Savoy rose 2.3%; in Illinois, it rose 5.3%.

  5. 59% of households in Savoy own their home, against 54% in Champaign County.

Sources: U.S. Census Bureau (Average 2020–2024); Zillow (September 2026 data). Zillow data

The homes here

Housing in Savoy

What homes there are in Savoy, what they cost, how that changed and how people live, from Census figures (2020–2024).

What homes there are

U.S. Census Bureau, ACS 5-year, 2020–2024

Kind of home

No kind of home is the majority in Savoy; the largest group, detached houses, adds up to 47%, less than in Champaign County (52%).

Year built

Here half of the homes date from 1996 or later; in Champaign County, from 1981 or later.

Much as in Champaign County, 57% of homes in Savoy have 3 bedrooms or more.

All homes, occupied or empty. A figure the Census cannot measure precisely enough here is not shown.

Census tables: B25024, B25034, B25035, B25041

What it costs here

U.S. Census Bureau, ACS 5-year, 2020–2024

Value of owner-occupied homes
Monthly rent with utilities

With a mortgage

$2,127 a month

Champaign County: $1,647 a month

Without a mortgage

$845 a month

Champaign County: $737 a month

Owners with a mortgage

68%

Champaign County: 60%

In Savoy, 68% of owners have a mortgage, and their typical cost is $2,127 a month, against $1,647 in Champaign County. Without one it drops to $845.

Value: what owners think their home is worth. Rent: rent plus utilities, for homes of every size. The FHA limit is the most an FHA loan (Federal Housing Administration) lends for a one-unit home; the fair market rent (FMR) is the one HUD uses for housing vouchers.

Census tables: B25075, B25063, B25088, B25081

How it changed

U.S. Census Bureau, ACS 5-year, 2015–2019 and 2020–2024

Change since 2015–2019

From 2015–2019 to 2020–2024, the typical home value in Savoy rose 38%; in Champaign County, it rose 31%.

Since 2015–2019, the typical rent in Savoy did not change clearly, according to the Census.

Change between two 5-year periods that do not overlap, in each period's dollars, not adjusted for inflation.

Census tables: B25077, B25064, B19013

How people live

U.S. Census Bureau, ACS 5-year, 2020–2024

MeasureSavoyChampaign CountyIllinoisUnited States
Rental vacancy Unreliable estimate9.0%5.0%5.5%
Homeowner vacancy Unreliable estimate1.4%1.0%0.9%
More than one person per room Unreliable estimate1.0%2.5%3.4%
People per household 2.382.272.462.53
Drive alone 75%64%66%69%
Carpool 7%8%8%9%
Public transit Unreliable estimate3%6%3%
Walk or bike Unreliable estimate8%3%3%
Work from home 18%16%16%15%
Other means Unreliable estimate1%1%2%
Typical commute 10 to 19 minutes10 to 19 minutes20 to 29 minutes20 to 29 minutes

A household in Savoy has 2.38 people on average, about the same as in Champaign County (2.27).

The car rules in Savoy: 75% of workers drive to work alone, and the typical trip takes 10 to 19 minutes.

Vacancy: empty homes offered for rent or for sale. Rooms: every room in the home, not only bedrooms. Commute: the minute range of the typical worker.

Census tables: B25004, B25003, B25014, B25010, B08301, B08303

Do the math

What would you pay each month for a home in Savoy?

A typical home costs more than the typical income allows

We start with a typical home in Savoy, worth $320,300, an FHA loan with 3.5% down and the latest average rate (7.18%). That payment would take 38% of the typical household income in Savoy, which is $91,966 a year. For that payment to be 28% of income, a household would need to earn about $125,749 a year.

The calculator's FHA and conventional loan limits are those of all of Champaign County.

Your numbers

Local data
$

Starts at the typical home value in Savoy. Change it to the price you have in mind.

Loan type
Your credit score

Your score changes which loans apply and FHA's minimum down payment. Your real rate also depends on your credit.

Down payment
%

That is $11,211 (3.5% of the price). The usual minimum for this loan is 3.5%.

This week's average ± a quarter or half point.

Term

National average as of November 5, 2026 (Freddie Mac); your rate may be different.

Adjust advanced details

Estimated monthly payment

Local data

$2,934

at 7.18% · 30 years

Loan amount
$314,498
Total interest
$452,489
Paid off in
November 2056

Includes $5,409 FHA upfront mortgage insurance premium.

Does it fit the income?

  • Comfortable

    up to $2,146 a month

  • Tight

    $2,146 to $2,759 a month

  • Hard

    more than $2,759 a month

    Your payment · 38%

Compared with the typical household income in Savoy ($91,966 a year). Reference: HUD calls paying more than 30% of income for housing a cost burden.

Show the result as
per month$2,934
Principal & interest$2,131
Property tax$529
Home insurance$134
FHA mortgage insurance (MIP)$142

You need at least $11,211 for the down payment, plus closing costs.

Next step

This is an estimate to give you an idea, not a loan offer. Your real payment depends on your rate, your credit, and the insurance and taxes on the home you buy.

The city and its county

Savoy and Champaign County

Savoy is in Champaign County, Illinois. The U.S. Census Bureau publishes its own numbers for the city: home values, rent, household income, how many households own their home and the property tax. They are American Community Survey estimates (average 2020–2024).

Savoy's own numbers

Typical home value
$320,300
Typical monthly rent
$1,003
Typical yearly household income
$91,966
Households that own their home
59%
Effective property tax rate
1.98%

U.S. Census Bureau, American Community Survey (average 2020–2024).

Numbers for all of Champaign County

FHA limit, one-unit home
$541,287
Conventional limit, one unit
$832,750
HUD fair market rent, 2 bedrooms
$1,173
Price change over 5 years (FHFA)
+52%
Homes in a high flood-risk zone
0.8%

HUD, FHFA and FEMA don't publish these numbers by city.

Other numbers are not published by city, only for the whole county: FHA and conventional loan limits, HUD’s fair market rents, FHFA’s price index and FEMA’s flood data. On this page, those numbers always say they are for all of Champaign County.

Everything about Champaign County

Buying

Buying a home in Savoy

A typical home in Savoy is worth $320,300: 51% above the county and 22% above Illinois. With the typical household income in Savoy ($91,966 a year), a typical home costs 3.5 times what the household earns in a year.

Years of income to pay for a typical home

The typical home value divided by the typical household income for one year. The lower it is, the less buying weighs.

  • Savoy 3.5 years
  • Champaign 3.3 years
  • Illinois 3.2 years
  • United States 4.1 years
Source: U.S. Census Bureau, Average 2020–2024

How prices have changed in Champaign County

According to FHFA’s house price index, home prices in Champaign County rose 64% in the 10 years through 2025.

FHFA does not publish this index by city: these are the numbers for all of Champaign County.

Period County Illinois U.S.
Last year (2025) +7.2% +5.7% +2.9%
5 years (2020–2025) +52% +47% +47%
10 years (2015–2025) +64% +65% +85%

The index follows the price of the same homes over time (sales and appraisals with Fannie Mae and Freddie Mac loans). It is not the average price of a home. FHFA considers its annual county indexes experimental. Source: FHFA, 2025 data

Savoy next to Champaign County, Illinois and the U.S.

Three numbers side by side. “Typical” means the median: half are above it and half below.

Typical home value
  • Savoy $320,300
  • Champaign $211,500
  • Illinois $263,300
  • United States $332,700
Typical monthly rent
  • Savoy $1,003
  • Champaign $1,051
  • Illinois $1,274
  • United States $1,413
Typical yearly household income
  • Savoy $91,966
  • Champaign $63,683
  • Illinois $83,390
  • United States $80,734
See the full table
Savoy next to Champaign County and Illinois
Measure Savoy Champaign County Illinois U.S.
Typical home value $320,300 $211,500 $263,300 $332,700
Typical monthly rent $1,003 $1,051 $1,274 $1,413
Typical yearly household income $91,966 $63,683 $83,390 $80,734
Households that own their home 59% 54% 67% 65%
Typical yearly property tax $6,351 $4,353 $5,298 $3,119
Effective property tax rate 1.98% 2.06% 2.01% 0.94%
Renters with high rent for their income 36% 54% 48% 51%

“Typical” means the median: half are above and half are below. ▲ and ▼ say whether the city is above or below Champaign County. “High rent” is the Census measure: renter households that pay 30% or more of their income in rent.

Four ways to pay for a typical home in Savoy

For a typical $320,300 home in Savoy, at Freddie Mac's average rate (7.18% as of November 5, 2026) over 30 years. The monthly payment adds principal and interest, Savoy's typical property tax, an example home insurance and mortgage insurance when it applies.

  • FHA, 3.5% down $2,934a month

    Least cash to close
    Down payment
    $11,211
    Cash to close
    $20,820
    Rate
    7.18%
    Mortgage insurance
    FHA MIP · $142

  • Conventional, 5% down $2,875a month

    Down payment
    $16,015
    Cash to close
    $25,624
    Rate
    7.18%
    Mortgage insurance
    PMI · $152

  • Conventional, 20% down, no PMI $2,398a month

    Down payment
    $64,060
    Cash to close
    $73,669
    Rate
    7.18%
    Mortgage insurance
    None

  • ITIN, 15% down (example) $2,694a month

    Down payment
    $48,045
    Cash to close
    $57,654
    Rate
    8.18%
    Mortgage insurance
    None

The option that asks for the least cash to close is FHA, 3.5% down.

  • Cash to close = down payment plus 3% of the price in closing costs (example).
  • Minimum score: FHA requires 580 or higher for the minimum down payment (HUD Handbook 4000.1). * Fannie Mae requires 620 when a loan is underwritten by hand; its automated system has no fixed minimum.
  • The ITIN row is an example with a rate 1 percentage point higher: ITIN loans follow no federal rule and each lender sets its own down payment and rate. Nothing in this table promises an approval.

How much house can I afford? Estimate closing costs

Taxes and floods

Two costs that change from place to place

Property tax and flood insurance raise or lower what you pay each month. Here are the numbers for Savoy and for Champaign County.

Property tax

Effective rate in Savoy

1.98%of the home’s value each year

$6,351 a year for the typical owner in Savoy.

  • Savoy 1.98%
  • Champaign 2.06%
  • Illinois 2.01%

What Illinois publishes General Homestead Exemption (Illinois Department of Revenue)

Exemptions and deadlines in Illinois

Flood risk in Champaign County

FEMA does not publish these numbers by city: they are for all of Champaign County.

Homes in the high-risk zone
0.8%
462
Of those, with NFIP insurance
17%
County Illinois U.S.
Homes in the high-risk zone 0.8% 1.5% 3.5%
Of those, with NFIP insurance 17% 25% 48%

Most homeowners insurance policies do not cover flood damage.

Look up your address on FEMA’s map

Renting

Renting in Savoy

Typical rent in Savoy is $1,003 a month: 5% below the county. In Savoy, 36% of renter households pay 30% or more of their income in rent.

HUD publishes a fair market rent for all of Champaign County, by unit size. To pay the 2-bedroom one ($1,173 a month) without spending more than 30% of your income, you would need to earn $22.56 an hour working full time.

HUD fair market rent for all of Champaign County

What you need to earn to pay it without spending more than 30% of income, working full time.

Size Fair rent a month Hourly wage Yearly income
Studio $983 $18.90 $39,320
1 bedroom $996 $19.15 $39,840
2 bedrooms $1,173 $22.56 $46,920
3 bedrooms $1,474 $28.35 $58,960
4 bedrooms $1,542 $29.65 $61,680

Includes basic utilities. It isn't the lowest or highest rent: it's a reference point. Source: HUD, Fiscal year 2027

By ZIP code

Fair market rent by ZIP code in Savoy

HUD also publishes a fair market rent for each ZIP code (Small Area FMR, fiscal year 2027). Savoy is in ZIP code 61874.

For 2 bedrooms it is $1,070: $103 less than the fair market rent for Champaign County ($1,173).

  • 61874 $1,070$1,340

1 of these ZIP codes crosses the city line: HUD sets the rent by ZIP code, not by city. A ZIP code counts for Savoy when at least 50% of its land is inside the city or it covers at least 15% of the city (Census 2020 boundaries). Source: Small Area Fair Market Rents (HUD) Fiscal year 2027 Small Area Fair Market Rents (HUD) Source: Census Bureau ZCTA-to-place relationship file Data from 2020 data Census Bureau ZCTA-to-place relationship file

Is your rent high for your ZIP?

Low-income apartments

Low-income apartments in Savoy

HUD lists one building with rents for lower incomes in Savoy.

  • Parkview Apts 100 Parkview Ln, Savoy 61874 176 low-income homes · 1 bd: 110 · 2 bd: 66 · In service since 2001 · For older adults, people with disabilities

See all 24 buildings in Champaign County Source: HUD, Retrieved November 6, 2026

Free help

Help to buy or rent in Savoy

You do not have to do this alone. A HUD-approved housing counseling agency helps for free or at low cost: getting ready to buy, understanding your credit, or solving a problem with your rent.

There is 1 HUD-approved agency with an office in Champaign County; none says it serves in Spanish.

An older man and his daughter go over papers with a professional.

HUD counseling is free or low-cost

Assistance programs in Savoy

No down payment, repair or rent-help program on our list is for Savoy or Champaign County. The ones below are statewide in Illinois: they work in Savoy the same as in the rest of the state.

Which programs do I qualify for? All programs in Illinois

  • IHDAccess Home

    Statewide in Illinois

    Limited funds remain, per the source

    IHDA second loan with deferred payments for first-time buyers in Illinois. Offered by Illinois Housing Development Authority (IHDA).

    Deferred

    See the program Official page

  • IHDAccess Forgivable

    Statewide in Illinois

    Limited funds remain, per the source

    IHDA second loan forgiven little by little over ten years, for the down payment in Illinois. Offered by Illinois Housing Development Authority (IHDA).

    Forgivable

    See the program Official page

  • IHDAccess Deferred

    Statewide in Illinois

    Limited funds remain, per the source

    IHDA second loan with no payments until you sell or refinance, for the down payment in Illinois. Offered by Illinois Housing Development Authority (IHDA).

    Deferred

    See the program Official page

Housing counselors near Savoy

The HUD-approved agencies closest to the center of Savoy, in a straight line, nearest first. If one says it serves in Spanish, its card says so.

  • Habitat for Humanity of Champaign County

    1914 Glenn Park Dr, Champaign · 4 miles away

    • Mortgage delinquency and default
    • Budget and financial counseling
    • and 6 more
    (217) 819-5113

  • Erba Douglas County Outreach Office

    107 W South Central, Tuscola · 18 miles away

    • Mortgage delinquency and default
    • Budget and financial counseling
    • and 6 more
    217-331-7031-229

  • C.e.f.s. Moultrie County Outreach Office

    114 E. Harrison Street, Sullivan · 37 miles away

    • Mortgage delinquency and default
    • Budget and financial counseling
    • and 8 more
    (217) 728-7721

Every agency in Champaign County All counseling agencies in Illinois

Help in Spanish near Savoy

None of the 3 agencies on this list say they serve in Spanish.

Ask for service in Spanish

When you call, say “Spanish, please” or ask if someone speaks Spanish. If not, ask whether they offer an interpreter.

Housing authorities of Savoy

HUD’s record names them for Savoy or Champaign County. They run public housing or Section 8 vouchers. Ask whether their waiting list is open.

  • Housing Authority of Champaign County Public housing and Section 8 vouchers (217) 378-7100

All housing agencies in Illinois Source: HUD

Cities

Other cities in Champaign County

These cities are also in Champaign County. They share its loan limits and fair market rents, but home values and rent change from one to the next.

Everything about Champaign County Housing in Illinois

Nearby cities

The cities closest to Savoy, with the typical home value.

Neighboring counties

If Champaign County is out of reach, look next door. Each number is that county's own.

Keep going

Guides for your next step

Short explanations, in plain language and with official sources, for buying or renting in Savoy.

All guides
A smiling girl holds up a small mushroom she found on a forest outing.

Questions

Housing questions about Savoy

Short answers with the numbers for Savoy and all of Champaign County. If your case is different, a HUD-approved counseling agency can guide you for free or at low cost.

How much does a typical home cost in Savoy?

The typical home value in Savoy is $320,300, according to the U.S. Census Bureau (average 2020–2024). For comparison, in Champaign County it is $211,500.

How much does it cost to rent in Savoy?

Typical rent in Savoy is $1,003 a month, according to the U.S. Census Bureau. HUD’s fair market rent for 2 bedrooms in Champaign County is $1,173.

What is the FHA loan limit in Savoy?

Savoy uses the FHA limit for all of Champaign County (2026): $541,287 for a one-unit home and $1,041,125 for a four-unit home.

How much property tax do owners pay in Savoy?

The typical homeowner in Savoy pays $6,351 a year, according to the U.S. Census Bureau. That is 1.98% of the home’s value; in Champaign County, the rate is 2.06%.

Where can I find free help to buy or rent in Savoy?

There is 1 HUD-approved counseling agency with an office in Champaign County. They can help you get ready to buy, with your credit, or with rent.

Sources: American Community Survey (ACS) 5-year estimates (Average 2020–2024); FHA mortgage limits (HUD) (2026 data); Conforming loan limits (FHFA) (2026 data); Fair Market Rents (HUD) (Fiscal year 2027); Small Area Fair Market Rents (HUD) (Fiscal year 2027); Census Bureau ZCTA-to-place relationship file (2020 data); HUD-approved housing counseling agencies (Retrieved November 6, 2026); Public Housing Agencies (HUD) (Retrieved November 6, 2026); Freddie Mac Primary Mortgage Market Survey (PMMS) (As of November 5, 2026); FHFA House Price Index (HPI) (2025 data); Homes with flood insurance (NFIP, FEMA) (As of August 3, 2026).