Yes, it is. The movie draws from real - life events. It's about a group of drug addicts who rob pharmacies to get their fix. This was actually a common practice among some addicts during that era. The film shows how they operate, how they interact with each other, and the consequences they face, all of which were based on real - life scenarios.
In a way, it is. The movie takes elements from real cowboy stories and weaves them into the plot. But it also adds some fictional elements for dramatic effect.
Urban Cowboy is not based on actual events. It's more of a fictional tale crafted for entertainment purposes. The characters and plotlines are invented by the writers to engage the audience.