What's a good cap rate in Champaign?

In Champaign, cap rates typically run around 7.5% (Illinois state median). A deal above that line is outperforming the local market; below it, you're paying up for appreciation or stability. TrueCap shows where any specific Champaign deal lands versus this benchmark.

What's the average rent for a rental in Champaign?

A typical rental in Champaign runs about $1,150–$1,600/mo (estimate; varies by neighborhood, size, and condition). TrueCap auto-fills HUD Fair Market Rent for the exact address you enter.

What is the property tax rate in Illinois?

Illinois's effective property tax rate is about 2.08% of value per year — the figure TrueCap applies by default for Champaign deals. You can override it with the exact local rate.

Champaign, IL

Champaign rental property analysis

Champaign-Urbana is built around the University of Illinois — a large, renewing student base keeps demand reliably high.

Champaign market snapshot

Cash-flow market

Higher typical cap rates — built for monthly cash flow more than price growth.

Typical cap rate

7.5%

Illinois state median

Typical rent

$1,150–$1,600/mo

est., SFR / small multi

Typical price

$170,000–$260,000

est., all-in

Property tax

2.08%

Illinois effective

Rent is HUD Fair Market Rent where available, otherwise a market estimate; price is a market estimate. Cap-rate and tax are the defaults TrueCap applies — enter a specific address for exact, auto-filled numbers.

Sources & methodology. These are screening defaults and market estimates — not an appraisal, and not financial, tax, or legal advice. Verify rents, taxes, insurance, and local landlord/tenant law against the county assessor and your state's landlord-tenant statute before relying on them.

Data: HUD Fair Market Rent · FRED 30-yr mortgage rate · Tax Foundation (property tax) · Updated June 2026

Metro-level estimates — precision is lower at the neighborhood and parcel level; pull a specific address for exact, auto-filled figures. Reviewed by the TrueCap team. See our full methodology.

Is Champaign a good place to buy rentals?

University demand underpins occupancy at affordable entry. Model Illinois taxes; near-campus submarkets turn over each year.

See the full Illinoisinvesting guide — taxes, landlord law & top metros →

Neighborhoods to look at in Champaign

Near U of I

Student rentals, high occupancy.

Southwest Champaign

Family renters, low vacancy.

Neighborhood notes are starting points, not recommendations — always underwrite the specific property.

Run a Champaign deal in 60 seconds

Paste a Champaign address into TrueCap and get cap rate, cash-on-cash, DSCR, cash flow, and a 10-year projection — auto-filled with Illinois tax and HUD rent so you start from the right assumptions.

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