Market Overview
Home Prices in Kankakee, IL
The median home value in Kankakee, IL is $156,135 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's up 3.9% compared to a year ago and up 6.8% from two years prior.
Compared to the U.S. national median of $410,000, homes in Kankakee are priced62% below average. Kankakee is part of the Kankakee, IL metro area.
Over the past five years, Kankakee home values have risen by approximately35.2%, reflecting strong long-term appreciation in this market.
Price History
Kankakee Home Price Trend
City Comparison
Kankakee vs. National Median
At $156,135, homes in Kankakee cost 62% below the national median of $410,000. This makes Kankakee a relatively affordable market for buyers seeking value.
Affordability
What Does It Cost to Buy in Kankakee?
20% Down Payment
$31,227
on $156,135
Monthly P&I
$814/mo
30-yr @ 6.8%
Total Monthly Est.
~$1,034/mo
incl. taxes & insurance
Income Needed
$41,360
gross annual (30% rule)
10% Down Option
$15,614
+ PMI applies
Loan Amount (20% dn)
$124,908
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 Kankakee, IL?
The median home value in Kankakee is $156,135 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's up 3.9% year-over-year.
How much have home prices changed in Kankakee?
Over the past year, home values in Kankakee have increased by 3.9%. Over five years, prices have risen approximately 35.2%.
How much do I need to earn to buy a home in Kankakee?
To comfortably afford the median home price of $156,135 with a 20% down payment ($31,227) at today's rates (6.8%), you'd need a gross annual income of approximately $41,360. This assumes keeping total housing costs at or below 30% of gross income.
How does Kankakee compare to the national average home price?
The national median home value is approximately $410,000. At $156,135, homes in Kankakee are 62% below the national average.
What metro area is Kankakee part of?
Kankakee is part of the Kankakee, IL metropolitan area. Home prices and market conditions can vary across the broader metro region.