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Kankakee Housing Information

IndexKankakeeIllinoisNational
Median home price$87,800$174,800$184,700
Median rent asked$777$925$949
Avg. people per household2.72.62.6
Owner occupied households49.7%66.0%63.6%
Renter occupied households50.3%34.0%36.4%
Above, you'll find an overview of the real estate market in Kankakee, IL. Generally, real estate in the Kankakee, IL area is more affordable in Illinois, as the median price of a home in Kankakee, IL is $87,800, which is 50% lower than the Illinois average. The median rental price in Kankakee, IL is $777. This is 16% lower than the average rental price in Illinois. Home owners comprise 49.7% of the population of Kankakee, IL, where an average of 2.7 people live in each home. Various real estate options from luxurious homes to affordable condos and urban townhomes are available in Kankakee, IL. Below, you can search for real estate listings in Kankakee, IL using our search functionality that allows you to personalize your search and filter out location, price, and number of bedrooms and bathrooms.

Kankakee Home Affordability

When searching for real estate in Kankakee, IL, home affordability is a critical aspect. The ratio of the house price to the median household income is one method used to figure out home affordability. In Kankakee, IL, the median house price is $87,800, while the median income for households in the area is $33,931. Therefore, the ratio of house price to income is 2.6x; this ratio is 12% lower than the average in Illinois. The calculation for the ratio of home affordability requires dividing the median household income by the median house price. The lower the aforementioned ratio, the more affordable homes are - when comparing the house price to the household income. However, there are more factors that come into play in terms of home affordability. The calculator below determines home affordability, and it can help you decide how much money you can afford to pay for real estate in Kankakee, IL.

Nearby cities with low home prices

City, StatePopulationHome PriceNational Avg.
Hopkins Park, IL413$50,00073%
Donovan, IL236$71,80061%
Sun River Terrace, IL459$77,40058%
Beaverville, IL314$77,50058%
Papineau, IL198$78,30058%
Kankakee, IL26,424$87,80052%

Cities with similar population

City, StatePopulationHome PriceNational Avg.
Lemon Grove, CA26,421$346,40088%
Batavia, IL26,413$278,60051%
Holbrook, NY26,435$360,80095%
Medina, OH26,445$160,70013%
Wakefield, MA26,399$433,000134%
Kankakee, IL26,424$87,80052%

Source: The Kankakee, IL housing data displayed above is derived from the 2016 United States Census Bureau American Community Survey (ACS).
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