The housing market in the Kankakee, IL Metro Area is quite favorable for buyers and investors. The median value for homes in this area is $168,800, which is significantly lower than the national median value of $338,100. Additionally, the one-year appreciation rate on houses in the metro area was 9.58%, which is higher than the national rate of 8.27%. This indicates that home values are increasing at a faster pace here compared to other parts of the US. With relatively low prices and robust appreciation rates, buying a home in Kankakee can be an attractive option for many people.
The median home cost in Kankakee Metro Area is $168,800. Home appreciation the last 10 years has been 52.8%. Home Appreciation in Kankakee Metro Area is up 15.4%.
Average Age of Homes
- The median age of Kankakee Metro Area real estate is 47 years old
The Rental Market in Kankakee Metro Area
- Renters make up 28.8% of the Kankakee Metro Area population
- 1.7% of houses and apartments in Kankakee Metro Area, are available to rent
DID YOU KNOW
Buying a home is the biggest single purchase most people make during their lives. The second largest is most often an automobile.