Champaign IL (University of Illinois) Airbnb
I'm considering investing in a rental property near the University of Illinois Urbana-Champaign in Champaign.
I'd like to hear from anyone with experience in this market. What are the potential pros and cons of investing near universities?
Any experiences in Airbnb vs. long-term rental?
Most Popular Reply
I've kicked the tires on mid term rentals in Champaign-Urbana on account of growing up in the area. The Carle Clinic is one of the only level 1 trauma center hospitals in the state outside of Chicago metro, the university is a great furnished tenant source, and Champaign county is 1 of the only counties in IL that is growing in population.
I forget which (Champaign or Urbana), but one is very restrictive on STRs...just make sure you are aware of zoning and restrictions. I like the mid term - short term hybrid model there. Take my advice for what it is worth - I ultimately decided not to invest there. I just don't see the appreciation upside there compared to other markets that I was considering.