The urban value is the sum total of the entire human labor which is formed by the accumulating investment as well as the construction activities in the urban city. The urban value is one of the most significant elements in the composition of the real estate value. Urban value determines the value of real estate. Similarity, the value of real estate also has effects on urban value. In accordance with the empirical research, it indicates that the general complexity and dynamics of urban value conform to the using space of Grey Correlative Analysis. To make the analysis of urban value based on Grey Correlative Analysis can explain the differences of the real development trend between each city. According to Grey Correlative Analysis, the main factors that affect urban value are urban economy value, urban position value and urban resources value in turn. Effects on urban value of urban infrastructure and urban scope value are weak. Research for urban value based on the Grey Correlative Analysis provides the more rational and logical decision-making platform to the most acceptable subsystem in the urban economic activities objectively--the activities for the investment and construction of the urban real estate.