Kankakee, IL housing market
Typical home value
$156K
▲ 4.4% 1 yr
Typical rent
$1,204/mo
▲ 3.3% 1 yr
Gross rent yield
9.3%
U.S. 6.3%
5-year home value change
+37%
U.S. +20%
Key takeaways
- 1The typical home in Kankakee is worth $155,977, up 4.4% over the past year and up 37% over five years.
- 2Typical rent is $1,204 a month (+3.3% YoY), a gross rent yield of 9.3% (above the Kankakee, IL metro's 7.0%).
- 3With 20% down at 7.32%, principal and interest on the typical home is about $857/mo, $347 less than typical rent.
- 4Zillow forecasts the Kankakee, IL metro's home values to change +4.2% over the next 12 months.
Market temperature (Kankakee, IL metro)
Seller's market
Buyer'sNeutralSeller's
Zillow Market Heat Index: 58/100, #53 hottest of 546 metros. Below 44 favors buyers; above 55 favors sellers.
Home values and rent
Source: Zillow Research (ZHVI, ZORI and market activity data).
How Kankakee compares
| Measure | Kankakee | Kankakee, IL metro | United States |
|---|---|---|---|
| Typical home value | $155,977 | $227,165 | $366,157 |
| Home value, 1-yr change | +4.4% | +6.0% | +1.2% |
| Typical rent | $1,204 | $1,327 | $1,932 |
| Rent, 1-yr change | +3.3% | +5.7% | +2.7% |
| Gross rent yield | 9.3% | 7.0% | 6.3% |
| Price-to-rent ratio | 10.8 | 14.3 | 15.8 |
| Mortgage P&I, typical home | $857 | $1,248 | $2,012 |
Run the numbers
Rental property calculator
Cash flow on a typical Kankakee rental, pre-filled.
Rent vs buy in Kankakee
Which costs less over the years you'll stay.
Mortgage calculator
Monthly payment on a $156K home.
City figures are Zillow's typical home value (ZHVI) and observed rent (ZORI). Gross yield is before expenses. Data refreshed Oct 26, 2026.