Might be good to shift this question over to the Sci-Fi/Fantasy board, since they tend to be a pretty informed bunch about urban fantasy.
Meanwhile, I'd say the answer to your question is "it depends".
Charles De Lint is usually categorized as Urban Fantasy, though his books take place in a decidedly non-urban setting (a Canadian village). The term obviously has some wiggle room.
Other genre terms include dark fantasy, modern fantasy, contemporary fantasy, paranormal, paranormal romance...
I've also seen some authors getting cute in query letters with things like "suburban fantasy" and "rural fantasy".
If you're pitching to an agent who's looking for urban fantasy, then urban fantasy is a good term to use, as long as your novel fits the model. If you read widely in the genre, you'll get a sense of things. It may be that one of the other terms I mentioned (or one I didn't) is more appropriate to your particular story.