Kankakee, IN housing market
Home prices around Kankakee have risen about 53% over the past 5 years.
Home values, sales, trends and how Kankakee compares with the towns next door — updated as new data is published.
Home prices up 53% in 5 years
The federal house price index for the ZIP codes around Kankakee rose 53% over the past 5 years, about the same as across Indiana. Last year prices rose 5.4%. Carrying the Census median home value forward with that index puts the typical Kankakee home at roughly $440,000 today.
Show as a table
| Year | Change that year | Since 2000 | Indiana since 2000 |
|---|---|---|---|
| 2025 | +5.4% | +120% | +126% |
| 2024 | +8% | +109% | +117% |
| 2023 | +6.9% | +94% | +106% |
| 2022 | +16% | +81% | +90% |
| 2021 | +8.9% | +57% | +65% |
| 2020 | +3% | +44% | +48% |
| 2019 | +6.7% | +40% | +42% |
| 2018 | +7.2% | +31% | +34% |
| 2017 | +1.4% | +22% | +26% |
| 2016 | +4.1% | +20% | +20% |
| 2015 | +3.9% | +16% | +16% |
| 2014 | +2.5% | +11% | +13% |
| 2013 | +0.2% | +8.7% | +10% |
| 2012 | −0.8% | +8.4% | +9% |
| 2011 | −3.5% | +9.3% | +9.6% |
| 2010 | −3.1% | +13% | +12% |
| 2009 | −1.3% | +17% | +14% |
| 2008 | −1.7% | +18% | +17% |
| 2007 | +2.3% | +20% | +18% |
| 2006 | +2.3% | +18% | +16% |
| 2005 | +5.2% | +15% | +14% |
| 2004 | +2.2% | +9.3% | +10% |
| 2003 | +1.3% | +7% | +7.8% |
| 2002 | +1.1% | +5.6% | +6.3% |
| 2001 | +4.5% | +4.5% | +4.3% |
| 2000 | — | — | — |
How Kankakee ranks on rising home prices →
Federal Housing Finance Agency House Price Index (annual, developmental) for ZIP codes 46350, 46371, weighted by land area. It tracks repeat sales and appraisals of the same homes, so it shows how prices changed, not what homes cost. The estimated value scales the Census (ACS 2020-2024) median home value by that change.
Kankakee and its neighbors
| Town | 1-yr change | 2-bed rent | Median income |
|---|---|---|---|
| Kankakee | +5.4%† | $1,250 | $109,426 |
| Wills | +5.1%† | $1,290 | $113,349 |
| Pleasant | +6.4%† | $1,140 | $88,205 |
| Galena | +5.4%† | $1,260 | $86,293 |
| Center | +6.3%† | $1,140 | $68,142 |
† FHFA price index change, where Zillow has no home value for the town.
2.4 years of income
The typical Kankakee home costs about 2.4 years of the town's median household income, less than across Indiana (3.6 years).
How Kankakee ranks on affordability →
Home value ÷ ACS median household income.
Owners, rent & taxes
U.S. Census Bureau, ACS 2020-2024.
A two-bedroom rents for about $1,250
HUD's Fair Market Rent for a two-bedroom in Kankakee is $1,250 a month, utilities included: roughly what a modest, recently rented unit costs. Renters already in Kankakee pay a median of $1,292. A two-bedroom takes about 14% of the town's median household income.
Studio $950 · 4 bedrooms $1,830
U.S. Department of Housing and Urban Development, FY2026 Fair Market Rents by ZIP code (46350, 46371; Michigan City-La Porte, IN MSA), weighted by land area. A Fair Market Rent is the 40th-percentile rent plus utilities for a standard unit. Median rent: U.S. Census Bureau, American Community Survey.
Home values: Zillow Home Value Index (ZHVI), Zillow Research. Sales, days on market and supply: Redfin Data Center. Income, ownership, taxes and rent: U.S. Census Bureau, American Community Survey. Price trend: Federal Housing Finance Agency House Price Index. Fair Market Rents: U.S. Department of Housing and Urban Development. Listings link to their publishers.