Kankakee County, Illinois Housing Market
In Kankakee County, Illinois, the median home value is $192,600, with a median monthly rent of $1,097. This places Kankakee County at #1485 nationally out of 3134 counties by median home value, and #16 within Illinois.
📈 Price Trend (2017 → 2024)
📊 Recent Market Momentum (FHFA HPI)
FHFA House Price Index — All-Transactions, Annual (2000 = 100) · Latest: 2025
📍 Economic Snapshot
Employment & Wages
- Avg weekly wage: $1,119
- Establishments: 2,018
- BLS QCEW, 2025
Housing Supply
- Single-family: 92
- Multi-family: 21
- U.S. Census Bureau, Building Permits Survey
Migration Patterns
- Inflow: 43,014 (avg $72,148)
- Outflow: 41,601 (avg $72,529)
- IRS Statistics of Income
📍 Sub-Market Activity
Top 8 active ZIP codes in Kankakee County · Latest: 2025
| # | ZIP Code | HPI | YoY Change | Latest Year |
|---|---|---|---|---|
| 1 | 60468 | 195.4 | +10.06% | 2025 |
| 2 | 60940 | 206.7 | -2.75% | 2025 |
| 3 | 60915 | 208.0 | +10.57% | 2025 |
| 4 | 60401 | 177.2 | +7.39% | 2025 |
| 5 | 60901 | 179.4 | +1.07% | 2025 |
| 6 | 60914 | 188.1 | +3.17% | 2025 |
| 7 | 60950 | 191.0 | +0.89% | 2025 |
| 8 | 60954 | 177.7 | +3.48% | 2025 |
Source: FHFA HPI for Five-Digit ZIP Codes (All-Transactions Index, 2000 = 100).
This product uses FHFA Data but is neither endorsed nor certified by FHFA.
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💰 Mortgage Guide → 🧾 Property Tax Data →How Kankakee County Compares
| Metric | Kankakee County | Illinois Average | U.S. Average |
|---|---|---|---|
| Median Home Value | $192,600 | $153,019 | $227,706 |
| Median Gross Rent | $1,097 | $867 | $968 |
| Owner Occupancy Rate | 69.9% | 75.8% | 73.3% |
| Price/Rent Ratio | 14.6 | 14.5 | 18.7 |
Market Analysis
The median home value in Kankakee County is 25.9% above the Illinois state average and 15.4% below the U.S. national average. The median rent of $1,097/month is 26.5% above the state average.
With a price-to-rent ratio of 14.6, buying a home in Kankakee County is generally more favorable than renting for those planning to stay long-term. A ratio below 15 typically signals that purchasing is financially advantageous over a multi-year horizon.
Kankakee County has an owner-occupancy rate of 69.9%, compared to 75.8% in Illinois and 73.3% nationally. This indicates a more renter-heavy market than the U.S. average.
Similar Counties by Home Value
| County | State | Median Home Value | Median Rent |
|---|---|---|---|
| Miller County | Missouri | $192,600 | $763 |
| Mecklenburg County | Virginia | $192,600 | $823 |
| Cheboygan County | Michigan | $192,500 | $773 |
| Schoharie County | New York | $192,500 | $909 |
| Beaufort County | North Carolina | $192,700 | $871 |
Other Counties in Illinois
| County | Median Home Value | Median Rent | Owner Occ. |
|---|---|---|---|
| Clinton County | $192,400 | $912 | 80.3% |
| Calhoun County | $190,900 | $583 | 88.7% |
| Effingham County | $189,500 | $733 | 78.2% |
| Ogle County | $189,200 | $936 | 75.4% |
| Woodford County | $197,600 | $912 | 85.7% |
Data Source: U.S. Census Bureau, American Community Survey (ACS) 2024 5-Year Estimates (2017–2024). Variables: B25077 (Median Home Value), B25064 (Median Gross Rent), B25003 (Tenure). Data collected on 2026-10-14. The price-to-rent ratio is calculated as Median Home Value ÷ (Median Monthly Rent × 12).