Kankakee, IL home prices
Typical home $227,165 · +6.0% in a year · income needed $75,200
The Kankakee, IL metro area ranks 535 of 894 U.S. metros for home values (U.S. typical home: $366,157). Prices changed +6.0% in a year and +31.7% over five years. With 20% down at 7.11%, the typical home costs about $1,755 a month including 2.21% property tax (Kankakee County rate).
Mortgage on the typical Kankakee home
| Down payment | Cash down | Loan | Principal + interest | PMI / MIP | Tax + insurance | Total / month | Income needed |
|---|---|---|---|---|---|---|---|
| 20% down | $45,433 | $181,732 | $1,223 | $0 | $533 | $1,755 | $75,200 |
| 10% down | $22,717 | $204,449 | $1,375 | $85 | $533 | $1,993 | $85,400 |
| 5% down | $11,358 | $215,807 | $1,452 | $90 | $533 | $2,075 | $88,900 |
| 3.5% down (FHA) | $7,951 | $223,051 | $1,500 | $100 | $533 | $2,134 | $91,500 |
Assumes a 30-year fixed loan at 7.11%, property tax of 2.21% of the home value a year, homeowners insurance of 0.6% a year, PMI of 0.5% of the loan a year when the down payment is under 20%, and FHA mortgage insurance of 0.55% a year plus a 1.75% upfront premium added to the loan. Your rate, taxes and insurance will differ.
Counties in the Kankakee area
| County | Typical home | 1-yr change | Tax rate |
|---|---|---|---|
| Kankakee County, IL | $227,163 | +6.0% | 2.21% |
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Frequently asked questions
How much is a house in Kankakee?
The typical home in the Kankakee, IL metro area is worth $227,165 (Zillow, September 2026).
What salary do you need to buy a house in Kankakee?
About $75,200 a year for the typical home with 20% down at 7.11%.