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Search and browse 1257 cheap (under $400) apartments available for rent in Champaign, IL. With apartments that span the entire city, you will find an apartment in Champaign for just the right price. During your search, sort your favorite cheap (under $400) apartments by one of our listed amenities — covered parking, in-unit washer and dryer, a rooftop pool, a modern fitness center, an updated kitchen, energy efficient appliances, smart technology, online leasing, payments, and more. Want to tour a property? Schedule a tour online and you’ll be moving in to your new Champaign apartment before you know it.
Welcome to the July 2021 Champaign Apartment Report. In this assessment of the local rental market, Rentable data scientists and rental experts break down the July 2021 key findings and figures for the Champaign rental landscape.
Our experts analyze the pricing trends — one-bedroom, two-bedroom, year-over-year and month-over-month — in Champaign and surrounding areas and provide comparisons to the entire metro area, nearby cities and some of the most desirable and expensive cities in the United States. Take a look at the last 12 months of Champaign average rent prices in the chart below.
Champaign rent prices increased over the last month. From June to July, the city experienced a 0.41% increase for the price of a one-bedroom apartment. The rent price for a Champaign one-bedroom apartments currently stands at $731.0.
When we take a look at the two-bedroom comparison from June to July, Champaign experienced a -0.36% decrease for the price of a two-bedroom apartment. The rent price for a Champaign two-bedroom apartments currently stands at $1,117.0.
Rent prices have increased in Champaign over the last month. But how have the surrounding areas fared when it comes to the recent volatility in apartment prices? Rent prices in 0 of the Champaign suburbs increased last month. On the other hand, 2 local areas experienced a decrease in the price of a one-bedroom apartment.
More key findings include:
Rents did not increase in any of the Champaign suburbs
Rent decreased in Urbana, IL, Savoy, IL.
1 suburb is currently priced higher than the city of Champaign.
1 suburb is currently priced lower than the city of Champaign.
Rent growth in Champaign over the past year has been on the rise. When compared to major cities nearby, along with some of the most expensive cities in the country, Champaign average rent prices appear to be relatively affordable for local residents.
The price for a Champaign one-bedroom apartment remains vastly more affordable than four of the largest cities in the United States — New York City, Washington, D.C. San Francisco and Los Angeles. And pricing compares quite similarly to nearby Midwest cities.
You can view the full rundown of Rentable's July 2021 National Apartment Report and data set here.
For more information about Champaign and surrounding area rent prices, take a look at the complete data set below.
| 1 BR July | 1 BR M/M % Change | 2 BR July | 2 BR M/M % Change | |
|---|---|---|---|---|
| Champaign, IL | $728.0 | -1.75% | $1,121.0 | -2.27% |
| Urbana, IL | $656.0 | -1.35% | $896.0 | 0.45% |
| Savoy, IL | $873.0 | -1.24% | $973.0 | 2.42% |
Each month, using over 1 million Rentable listings across the United States, we calculate the median 1-bedroom and 2-bedroom rent prices by city, state, and nation, and track the month-over-month percent change. To avoid small sample sizes, we restrict the analysis for our reports to cities meeting minimum population and property count thresholds.