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RentData.org Logo Kankakee Fair Market Rent FY 2016 Kankakee, IL MSA Rental Data

Fair Market Rent Prices in Kankakee, IL :
$508 $615 $823 $1,133 $1,308
Studio / Efficiency 1-Bedroom 2-Bedroom 3-Bedroom 4-Bedroom
0-BR 1-BR 2-BR 3-BR 4-BR
Affordable 40th Percentile Metro Area

Fair Market Rent prices in Kankakee are very low compared to the national average. This FMR area is less expensive than 100% of other FMR areas. Fair Market Rent for a two-bedroom apartment in Kankakee is $823 per month.

This FMR rate applies to Pembroke Township, IL, Hopkins Park, IL, Union Hill, IL, Aroma Park, IL, Essex, IL, Bonfield, IL, Grant Park, IL, Peotone, IL, Momence, IL, Beecher, IL and other cities within the region. The Metro Code or CBSA code for this region is METRO28100M28100.

Additionally, This Fair Market Rent (FMR) area Kankakee, IL MSA spans one county or city in which is listed in the table below. Estimated population of Kankakee, IL MSA FMR area is 113,449 people based on latest Census data.

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What is Fair Market Rent?

Fair Market Rent is determined each fiscal year by the HUD and is used to set payment standards for federal housing assistance programs in Kankakee. Fair Market Rent is the 40th-percentile of typical rentals in a given region. Learn more

Median Rent Prices in Kankakee

To compute the 40th percentile of rent prices the HUD must determine the median or 50th percentile as well. 50th percentile rent prices are NOT fair market rents (unless otherwise noted as a 50th percentile designated region above). However, some home owners or rents may be interested in the median rent prices as well.

50th Percentile Rental Prices:
0-BR Studio / Efficiency $ 540
1-BR 1-Bedroom $ 654
2-BR 2-Bedroom $ 876
3-BR 3-Bedroom $ 1206
4-BR 4-Bedroom $ 1392
Change Year:

There is just one county (listed below) within the Kankakee, IL MSA FMR area (most regions, especially metro areas, cover multiple counties). This FMR area covers one metro area: Chicago.

County / Region Est. Population
Kankakee County, IL Metro 113,449
Zip Codes in Kankakee, IL MSA

There are 14 unique zip codes in this Fair Market Rent (FMR) area:

60401, 60468, 60901, 60910, 60913, 60914, 60915, 60935, 60940, 60944, 60950, 60954, 60958 and 60969

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