1031 Exchange Champaign, Illinois

 

Rent, population, and median household income are important factors to consider for a 1031 exchange in Champaign due to their correlations with market demand, and conversely, vacancy rate.

Surrounding metropolitan Area

Champaign, Illinois is a part of the Champaign-Urbana, IL metropolitan area, and contains 6 zip codes: 61822, 61821, 61825, 61824, 61820, and 61826.

Champaign Demographics & Economic Trends

The 2019 average effective rent for Class A, B, and C apartments in the Champaign, IL metropolitan area was $816, which is 10.42% lower than 2014 average rent. This represents a compounded annual growth rate of 2.00%. 2019 vacancy in Champaign, IL was 5.80%.

The total population of the city of Champaign, IL has grown 8.60% since 2010. As of 2018, the population was 88,029. The median household income of the Champaign was $47,502, which is 21.21% lower than the national average.

  • metropolitan area Champaign-Urbana, IL
  • avg rent $816
  • rent growth 10.42%
  • vacancy 5.80%
  • median income $47,502
  • population (2018) 88,029
  • population growth 8.60%
  • vs. nat'l avg 21.21%
  • zip codes 61820 61821 61822 61824 61825 61826

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