Kankakee, IL
The numbers that matter most
What an investor checks first when sizing up a new metro — affordability ratio, rent vs income, cap rate proxy, and where the market is moving. Each metric shown vs. state and national medians for instant context.
affordable
Price to income
2.72×
The single most-cited 'is this market still cheap' check. Below 3× and you're in an affordability tailwind.
- vs Illinois
- 2.49×
- vs U.S.
- 3.43×-0.71
Benchmark
ACS median home value ÷ median HHI
comfortable
Rent to income
23.3%
What share of a typical household's income goes to rent. Below 30% means tenants can absorb modest rent increases.
- vs Illinois
- 20.6%
- vs U.S.
- 23.3%
Benchmark
(HUD FMR 2BR × 12) ÷ median HHI
deal-by-deal
Cap rate proxy
5.57%
Rough first-pass yield assuming a 35% expense ratio. Not an underwriting number — a 'is this even worth modeling' filter.
- vs Illinois
- 5.30%+0.27
- vs U.S.
- 4.35%+1.22
Benchmark
(FMR 2BR × 12 × 0.65) ÷ ACS median home value
steady
Net migration
+0.21%
Forward-looking demand signal. Positive net migration drives rent growth and absorbs new supply.
- vs Illinois
- -0.07%+0.28
- vs U.S.
- 0.03%+0.19
Benchmark
IRS net migration ÷ population
tight
Permit pipeline
1.39
permits per 1,000 residents
Forward-supply indicator. Above ~5 means the metro is building meaningfully relative to its size; below 2 means supply is tight.
- vs Illinois
- 1.23+0.16
- vs U.S.
- 3.52
Benchmark
Census BPS permits TTM ÷ population × 1,000
softening
Unemployment
6.7%
Tighter unemployment means higher wages, more rental demand, lower vacancy.
- vs Illinois
- 5.3%
- vs U.S.
- 3.9%
Benchmark
BLS LAUS, latest month
Where prices are and where they've been
5-year price appreciation
+49.7%
homeValues.yearOverYear
+2.6%
Median home value
$185,700
The rent ladder
| Bedroom | Monthly | Annual | % of median HHI |
|---|---|---|---|
| 1 BR | $1,011 | $12,132 | 17.8% |
| 2 BR | $1,326 | $15,912 | 23.3% |
| 3 BR | $1,745 | $20,940 | 30.6% |
Labor market direction
Unemployment
6.7%
Median household income
$68,325
What's being built
Total TTM
149
+43.3% YoY
Single-family
117
2–4 unit
27
5+ unit
5
All 1 counties, ranked by population
| County | Population | Home value | Median HHI | Permits TTM | YoY |
|---|---|---|---|---|---|
| Kankakee County | 107,421 | $185,700 | $68,325 | 149 | +43.3% |
Similar metros nationally
| Metro | Pop | Med HHI | P/I | Cap proxy | HPI 5y | Permits/1k | Unemp |
|---|---|---|---|---|---|---|---|
| ★Kankakee | 107,421 | $68,325 | 2.72× | 5.57% | +49.7% | 1.39 | 6.7% |
| Grand Forks, ND-MN | 104,055 | $68,653 | — | — | +34.8% | — | 2.7% |
| Lewiston-Auburn, ME | 111,532 | $67,298 | — | — | +73.9% | — | 3.3% |
| Michigan City-La Porte, IN | 112,215 | $70,452 | — | — | +59.7% | — | 3.1% |
| Longview, WA | 110,621 | $72,932 | — | — | +42.7% | — | 6.2% |
| Twin Falls, ID | 115,066 | $66,473 | — | — | +58.1% | — | 3.3% |
Where people are moving in from
Net migration
+230
+0.21% of population
| Origin county | Tax returns |
|---|---|
| Cook County, IL | 451 |
| Will County, IL | 413 |
| Iroquois County, IL | 134 |
| Lake County, IN | 63 |
| DuPage County, IL | 50 |
| Champaign County, IL | 43 |
Who lives in Kankakee
- Median age
- 39
- Bachelor's+
- 20.4%
- Owner-occupancy
- 68.8%
- Vacancy rate
- 9.9%
- Rent burdened (30%+)
- 44.9%
- Median household income
- $68,325
This page shows federally sourced data. A full editorial analysis with charts and investment commentary is in progress.