Market Overview
Home Prices in Grant Park, IL
The median home value in Grant Park, IL is $298,331 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's up 9.2% compared to a year ago and up 1% from two years prior.
Compared to the U.S. national median of $410,000, homes in Grant Park are priced27% below average. Grant Park is part of the Kankakee, IL metro area.
Over the past five years, Grant Park home values have risen by approximately31.5%, reflecting strong long-term appreciation in this market.
Price History
Grant Park Home Price Trend
City Comparison
Grant Park vs. National Median
At $298,331, homes in Grant Park cost 27% below the national median of $410,000. This makes Grant Park a relatively affordable market for buyers seeking value.
Affordability
What Does It Cost to Buy in Grant Park?
20% Down Payment
$59,666
on $298,331
Monthly P&I
$1,556/mo
30-yr @ 6.8%
Total Monthly Est.
~$1,976/mo
incl. taxes & insurance
Income Needed
$79,040
gross annual (30% rule)
10% Down Option
$29,833
+ PMI applies
Loan Amount (20% dn)
$238,665
at current rates
Estimates assume a 30-year fixed mortgage at 6.8%. Monthly total includes estimated property taxes and homeowner's insurance. Actual costs vary.
FAQ
Frequently Asked Questions
What is the average home price in Grant Park, IL?
The median home value in Grant Park is $298,331 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's up 9.2% year-over-year.
How much have home prices changed in Grant Park?
Over the past year, home values in Grant Park have increased by 9.2%. Over five years, prices have risen approximately 31.5%.
How much do I need to earn to buy a home in Grant Park?
To comfortably afford the median home price of $298,331 with a 20% down payment ($59,666) at today's rates (6.8%), you'd need a gross annual income of approximately $79,040. This assumes keeping total housing costs at or below 30% of gross income.
How does Grant Park compare to the national average home price?
The national median home value is approximately $410,000. At $298,331, homes in Grant Park are 27% below the national average.
What metro area is Grant Park part of?
Grant Park is part of the Kankakee, IL metropolitan area. Home prices and market conditions can vary across the broader metro region.