We reconsider the constraints on Universal Extra Dimensions (UED) models arising from precision electroweak data. We take into account the subleading contributions from new physics (expressed in terms of the X,Y ... variables), as well as two loop corrections to the Standard Model rho parameter. For the case of one extra dimension, we obtain a lower bound on the inverse compactification scale M = R^{-1} of 600 GeV (at 90% confidence level), with a Higgs mass of 115 GeV. However, in contradiction to recent claims, we find that this constraint is significantly relaxed with increasing Higgs mass, allowing for compactification scales as low as 300 GeV. LEP II data does not significantly affect these results.
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