Updated 2026 · Based on median market data for Champaign, IL
The median monthly rent in Champaign, IL is $1,050, translating to $12,600 in annual gross rental income per unit. The rent-to-price ratio is 0.60% — well below the 1% rule, making pure cash flow investing challenging at median prices.
Renters in Champaign spend approximately 30% of the local median household income ($42,400) on rent. This is within the healthy 25-30% range, indicating rent is affordable relative to local incomes. There may be room for moderate rent increases, especially for updated or well-located units.
The vacancy rate in Champaign is 5.5%. This is a healthy vacancy rate that indicates balanced supply and demand. You should be able to find quality tenants without extended vacancies, though expect normal turnover periods of 2-4 weeks between tenants. Population growth of 0.5% annually provides stable demand.
Champaign's GRM (price divided by annual rent) is 13.9x. A GRM between 12-16x is moderate and typical of balanced markets. Deals can work but you need to keep expenses controlled. For comparison, the national average GRM for investment-grade rentals is approximately 13-15x.
At the median rent of $1,050/mo, a single-family rental in Champaign generates approximately $12,600 in gross annual income. After accounting for 5.5% vacancy ($693 lost), property taxes of $3,570, insurance (~$700), and maintenance (~$700), the estimated NOI is $6,937 per year, or $578/mo.