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Featured local agent — Kankakee, IL
Sarah Mitchell
Compass Real Estate · Kankakee, IL
“Your trusted relocation specialist since 2009. 350+ homes sold. Zero-pressure, data-first approach.”
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Kankakee, IL Housing Market & Real Estate
Housing market overview · Updated monthly ·
$145,750median sale price
How is the Kankakee, IL housing market right now?
The median home sale price in Kankakee, IL is $145,750, up 8.4% year-over-year. Homes sell in an average of 64 days with 81 active listings. The market is currently a buyer's market. (Source: Redfin monthly MLS data, as of May 2026 — the most recent Redfin release; Redfin publishes each month's data on a ~6-week lag.)
Is Kankakee a buyer's or seller's market?
Kankakee, IL is currently a buyer's market, based on 4.1 months of supply and homes selling in about 64 days. How we determine this →
Homes sold
20
Last 12 weeks
Days on market
64
Average pace
Active listings
81
4.1 months supply
Sale-to-list
94.2%
Below asking
What does the Kankakee housing market data show?
| Metric | Value |
|---|---|
| Median sale price | $145,750 |
| Median list price | $179,900 |
| Year-over-year price change | +8.4% |
| Average days on market | 64 days |
| Active inventory | 81 listings |
| Months of supply | 4.1 months |
| Sale-to-list price ratio | 94.2% |
| Median price per sq ft | $118/sq ft |
| Homes sold (latest month) | 20 |
| New listings (latest month) | 19 |
| Listings with a price cut | 18.5% |
| Market condition | Buyer's market |
Source: Redfin · Updated monthly
How much do homes cost in Kankakee by property type?
How the Kankakee, IL market breaks down across single-family homes, condos, and townhouses.
| Property type | Median price | Price / sq ft | Homes sold | Days on market |
|---|---|---|---|---|
| Single-family | $151,500 | $118/sq ft | 17 | 72 days |
| Condo / Co-op | $122,000 | $102/sq ft | 1 | 39 days |
| Townhouse | $200,000 | $117/sq ft | 1 | 65 days |
Source: Redfin · Updated monthly
The Kankakee housing market is currently classified as a buyer's market with a median sale price of $145,750. Prices have risen 8.4% compared to last year, with homes spending an average of 64 days on market, indicating 4.1 months of inventory.This inventory level gives buyers significantly more negotiating power, allowing time to inspect properties thoroughly and potentially negotiate better terms.The price-to-income ratio of 3.5x provides context for how home values compare to local earning capacity.
Homes for sale in Kankakee
There are currently 81 homes listed for sale in Kankakee, Illinois. The median listing price is $180K.
Active listings
81
Homes on market
Median list price
$180K
Avg. days on market
64
Days until sale
New this week
19
Newly listed
Who lives in Kankakee?
Population
24,384
Median income
$45,119/yr
Median age
36.4 years
Owner-occupied
49.4%
College grads
12.5%
Avg commute
21.6 min
Source: U.S. Census Bureau ACS
What are homes worth in Kankakee?
Zillow home value
$156,135
Zillow rent index
$1,160/mo
Price-to-rent ratio
11.2x
Price-to-income
3.5x
Source: Zillow Research
What is it like to live in Kankakee?
Kankakee is a community of approximately 24K residents with a median age of 36.4 years.The median household income is $45,119, which represents a working-class community with solid middle-income opportunities. 12.5% of residents hold a bachelor's degree or higher, showing a mixed educational demographic.
Homeownership rates are at 49.4%, showing a blend of owner and renter-occupied properties. The average commute time is 21.6 minutes, which makes this an excellent choice for those seeking short commutes to employment centers.Overall, Kankakee offers a balanced lifestyle with accessible home values relative to local income levels.
Which public schools serve Kankakee?
14 schools tracked · 5,120 students
The largest public schools serving Kankakee, IL by enrollment, drawn from the National Center for Education Statistics. School quality is a commonly cited factor in home-buying decisions — these are the campuses families in this area are most likely to encounter.
Kankakee High School
Grades 9-12 · 1,447 students
John Kennedy Middle Grade School
Grades 2-6 · 515 students
Kankakee Junior High School
Grades 7-8 · 502 students
Limestone Middle Sch
Grades 5-8 · 465 students
Proegler School
Grades PK · 463 students
Lincoln Cltrl Ctr-Montessori Elem
Grades PK-8 · 445 students
King Middle Grade School
Grades 3-6 · 351 students
Taft Primary School
Grades K-3 · 301 students
Source: National Center for Education Statistics, Common Core of Data directory. Updated annually. Ratings and test scores are not currently displayed.
Which cities are near Kankakee, IL?
Want a head-to-head view? Compare Kankakee side-by-side with any other U.S. city using our market-comparison tool.
Is Kankakee a good real estate investment market?
For investors evaluating Kankakee, the price-to-rent ratio of 11.2x suggests potential rental yield opportunity, making the market attractive for income-focused investors. The market has appreciated 8.4% year-over-year, reflecting ongoing demand and value growth.Use our rent vs. buy calculator to analyze whether owning or renting makes more financial sense based on Kankakee's current market conditions and your specific situation. Estimate your monthly payment with the mortgage calculator using Kankakee's median home price.
Frequently asked questions
What is the average home price in Kankakee?
The median home sale price in Kankakee is $145,750, up 8.4% from last year.
How long do homes stay on market in Kankakee?
Homes typically spend 64 days on market before going under contract.
What is the median income in Kankakee?
The median household income is $45,119 per year.
Is Kankakee a buyer's or seller's market?
With 4.1 months of supply, Kankakee is currently a buyer's market.
What is the Zillow home value estimate for Kankakee?
The Zillow Home Value Index (ZHVI) for Kankakee is $156,135, representing the typical home value in the area.
What is the median condo price in Kankakee?
The median condo/co-op sale price in Kankakee, IL is $122,000, compared to $151,500 for a single-family home, based on the latest Redfin data.
How much does a single-family home cost in Kankakee?
The median single-family home price in Kankakee, IL is $151,500 (about $118 per square foot).
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