Champaign facing housing shortage as vacancy rate slips to 2%

CHAMPAIGN, Ill. (WAND) - The City of Champaign is working to tackle a housing shortage.

New data shows the city has a 2% vacancy rate, meaning homes and rents are filled almost immediately after hitting the market.

City staff research shows 7,000 units need to be built by 2035.

Less than 10% of that would be for University of Illinois students.

Staff said the lack of housing is driving up prices and creating predatory landlords.

Champaign City Council will get a final report in May and will then consider zoning changes and incentives to attract developers.

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