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RentData.org Logo Kankakee Fair Market Rent FY 2017 Kankakee, IL MSA Rental Data

Fair Market Rent Prices in Kankakee, IL :
$570 $676 $899 $1,235 $1,474
Studio / Efficiency 1-Bedroom 2-Bedroom 3-Bedroom 4-Bedroom
0-BR 1-BR 2-BR 3-BR 4-BR
Moderate 40th Percentile Metro Area

Fair Market Rent prices in Kankakee are high compared to the national average. This FMR area is more expensive than 88% of other FMR areas. Fair Market Rent for a two-bedroom apartment in Kankakee is $899 per month.

The previous year, rent for a two-bedroom home was $823 per month. This is a 9.23% increase year-over-year.

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 Illinois which is listed in the table below. Estimated population of Kankakee, IL MSA FMR area is 113,449 people based on latest Census data.

Compared to the rest of Illinois, the Kankakee FMR area is more expensive than 93% of the state.

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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 $ 606
1-BR 1-Bedroom $ 719
2-BR 2-Bedroom $ 955
3-BR 3-Bedroom $ 1312
4-BR 4-Bedroom $ 1566
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, 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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