2010-2014 Consolidated Plan - City of Champaign

Chapter 2Housing Market AnalysisCOMMUNITY PROFILEThe City of Champaign is located in east central Illinois approximately 135 miles south of Chicago and 80miles northeast of Springfield, the state capital. Its adjoining twin city, Urbana, is the county seat.Champaign-Urbana is the home of the University of Illinois. Parkland Community College is also locatedin Champaign.The 2000 Census listed Champaign's population at 67,518, comprising 38% of the total county populationof 179,669. A Special Census completed in 2007 listed the population at 75,254. According to Censusfigures the city's population grew by 6% between 1990 and 2000. This growth was due to annexation ofadjacent land parcels, growth of the University of Illinois, and in-migration.Students comprise approximately 32% of the city’s population. This large number of students has asignificant impact on the housing market, particularly the rental housing market. The willingness ofstudents to share living quarters and pay inflated rents for short periods of time tightens the rentalmarket and has the effect of raising rents citywide.According to the 2000 Census, 73% of Champaign’s citizens are white, 16% are black, 7% are Asian, and4% are Hispanic. The median age in 2000 was 24, reflecting the presence of the University of Illinoisstudent population, and 8% of the population was over the age of 65.In 2000, the City’s median household income was $32,795 and the median family income was $52,628.The number of families living below the poverty level in 2000 was 1,021, or 8.2% of the population.LOCAL NEIGHBORHOOD WELLNESS PLAN AND DATAThe first edition of the Neighborhood Wellness Plan was completed in 1991. The City last updated theplan in 2008. This document provides information about population, household economics, and thehousing market to assess how neighborhood conditions have changed over time.For the purpose of this Consolidated Plan, 2000 Census information is used due to the 2010 Census justbeing underway. The City of Champaign is engaged with regional partners to complete a RegionalHousing Study to identify gaps within the region. The partnership includes: City of Champaign, City ofUrbana, Village of Rantoul, Champaign County Regional Planning Commission, and the Housing Authorityof Champaign County. This report will include the results of a rent reasonableness study, conducted bythe Housing Authority of Champaign County in the summer of 2010, with the final overall housing studyto be completed in the fall of 2010. The results of this report will lead to a major public informationprocess to share the information both regionally and locally as new goals may be identified based on theinformation found during the study. A substantial amendment to the Consolidated Plan will likely besubmitted at the conclusion of this public process.GEOGRAPHIC DISTRIBUTION AND TARGETED AREASLow/mod areas are defined as areas in which more than 50% of the residents have annual incomes at orbelow 80% of the area median. The low/mod neighborhoods as determined by the 2000 Census aredepicted in Exhibit 1. Any federally-funded activities designated to benefit a low/mod area (LMA) willtake place within the area shaded in red.The low/mod areas closely coincide with neighborhoods designated as Restoration and Preservation areasin the Neighborhood Wellness Plan. As discussed in further detail below, several planning areas thatwere classified as Preservation areas in 1992 have now improved to Conservation in the 2003 plan6 Housing Market Analysis