Champaign-Urbana, IL, Residential Rental Property Market

Champaign city of Champaign County, IllinoisMetropolitan Area comes into reckoning. There
shares its existence with its sibling city of Urbana,are 22 Rental Agencies in Champaign and 36 in
to be known as the Twin Cities. The residentialUrbana, including the Campus Management, to
rental property market is mostly dependent onguide, assist and help in locating residential
the University of Illinois at Urbana-Champaign. Theaccommodation for the student community of
rental property market is catering to the housingthe University.
needs of the student community, coming fromThe statistics for the residential rental market for
the entire State of Illinois and elsewhere.Champaign is - 49.21% of the population are
So it would be worthwhile to know more aboutrenters. Nearly 5.20% of houses and apartments
the University - This is a public research Universityare presently unoccupied. The total population of
and famous as the oldest and largest campus inChampaign city is 75,254. As for Urbana is
the Illinois University system. Formerly Illinoisconcerned, the city has a total population of
Industrial University, established in 1867, the name39,484 people. Renters make up 58.73% of
was changed to the present in the year 1982. 18Urbana population and 6.47% of houses and
Colleges offering more than 150 programs ofapartments are unoccupied (vacancy rate).
study comprise in the University, apart from anBased on the Cost of Living indices of US, the
extension that serves more than 2.7 millionaverage is 100. The Cost of Living Index for
registrants per year in Illinois State and beyond.Champaign city is 82.62, so it is less expensive
The University campus extends over 1,468 acres,than most cities. Similarly the Cost of Living Index
situated within the twin cities of Champaign andfor Urbana is 82.94.
Urbana with 286 buildings. The student populationIt can therefore be safely concluded that in
is 41,495 (under graduates 31,173 + 10,322 postChampaign-Urbana Metropolitan Area, good and
graduates), apart from 8,085 staff.amicable single family homes are available for
The University provides residential accommodationrental, somewhere between $470 and $1600 at
for first year under-graduates in its ownan average per month. This Metro is certified to
Residential Halls or in University Private-Certifiedbe a very good and peaceful place for living by
housing, both administered by the University'sexperienced residents - with all the facilities for
housing division. Most under-graduates choose todining, shopping, recreation and entertainment
move into single family homes and apartments,provided - mostly by the University of Illinois on
after their first or second year. This is where thethis metro city.
rental property market of Champaign-Urbana