Located in the Urbana-Champaign area, Savoy is quietly emerging as a new residential community. While the city itself is small, the influx of university staff, healthcare professionals, and other skilled workers has significantly increased property prices in certain areas.

Within Savoy, the Cross Creek development is noted as a prime upscale residential area. This new community features large lots and spacious homes adjacent to a golf course, with median home prices ranging from $400,000 to $500,000.

The nearby Stone Creek golf community in Champaign is also a representative affluent neighborhood in the area. Although it lacks gates, it is a member-only golf club community that has consistently attracted wealthy individuals seeking a quiet and safe environment. The median price here is around $450,000 to $550,000.

The area near Ironwood in southwest Champaign has also seen a rise in new listings, pushing median prices above $400,000.

The background for these neighborhoods becoming relatively high-priced areas includes the large employment base provided by the University of Illinois, the excellent Savoy-Champaign school district, and planned developments centered around golf clubs. The steady influx of high-income professionals working in university hospitals or research institutions is also cited as a factor supporting these prices.

The overall median home price in the Savoy and Champaign area is reported to be around $200,000, showing a gap of more than double compared to areas like Cross Creek or Stone Creek.

Due to the characteristics of a small-town market, there are not many listings available, so it is advisable to keep in mind that it may take some time to find properties that meet your desired area and conditions.