Champaign is not a large city, but its downtown punches above its weight class. It’s anchored by three historic theaters: The Art, The Orpheum, and The Virginia. Of the three, only The Art — which has been in business since 1913, and for a time in the 1970s was a porno theater — still shows films: art-house and European, mostly. The Orpheum now houses the Children’s Science Museum, and The Virginia is a 1525-seat playhouse, music venue, and community arts theatre. Culinary culture is alive and well in downtown Champaign, with a number of the city’s best restaurants — like Asian fusion hotspot Miga — calling the district home. Expect to find a slightly more upscale atmosphere, with shopping geared toward the post-college crowd. (There is, however, a vape shop).
If you're not sure how much an apartment will cost, the table below shows the average price by size.
Welcome to the January 2021 Champaign Apartment Report. In this assessment of the local rental market, Rentable data scientists and rental experts break down the January 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 rent prices in the chart below.
Champaign rent prices increased over the last month. From December to January, the city experienced a 1.33% increase for the price of a one-bedroom apartment. The rent price for a Champaign one-bedroom apartments currently stands at $687.0.
When we take a look at the two-bedroom comparison from December to January, Champaign experienced a 0.1% increase for the price of a two-bedroom apartment. The rent price for a Champaign two-bedroom apartments currently stands at $981.0.
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 2 of the Champaign suburbs increased last month. On the other hand, 1 local areas experienced a decrease in the price of a one-bedroom apartment.
More key findings include:
Rent increased in Urbana, IL, Savoy, IL .
Rent decreased in Rantoul, IL.
1 suburb is currently priced higher than the city of Champaign.
2 suburbs are 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 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 January 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 January||1 BR M/M % Change||2 BR January||2 BR M/M % Change|
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.