Welcome to the December 2018 Champaign Apartment Report. In this assessment of the local rental market, ABODO data scientists and rental experts break down the December 2018 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 decreased over the last month. From November to December, the city experienced a 0.0% decrease for the price of a one-bedroom apartment. The rent price for a Champaign one-bedroom apartments currently stands at $695.
When we take a look at the two-bedroom comparison from November to December, Champaign experienced a 3.52% increase for the price of a two-bedroom apartment. The rent price for a Champaign two-bedroom apartments currently stands at $883.
Rent prices have decreased 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 1 of the Champaign suburb 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 Savoy, IL .
Rent decreased in Urbana, 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 declining. 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 ABODO's December 2018 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 December||1 BR M/M % Change||2 BR December||2 BR M/M % Change|
Each month, using over 1 million ABODO 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.