Real estate investors looking for the best return on their investments should consider buying rental property in Champaign, Ill., according to “The US Landlord Index: College Towns & Cities” by homes.com.
Champaign landlords averaged more than 14 percent yields, which was the highest of any college city or town in the United States, while those in Urbana were sixth in the nation with 10.91, homes.com reported. Also, these municipalities ranked first and second in the small town category with populations of less than 125,000 each. The area is home to the University of Illinois Urbana Champaign and Parkland College.
The higher demand created by college graduates and college freshmen, as well as plentiful local amenities and good rental incomes make college towns popular with real estate investors. Homes.com then combined WalletHub’s “2018 Best College Towns & Cities in America” research and then analyzed the average purchase prices and monthly rents for three bedroom homes in 150 towns and cities to develop its rankings. Find out more about other college towns in Illinois.