Real Estate Investing in Kankakee, Illinois (60901)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 60901 (Kankakee, IL)? Our answer, based on the numbers below.
Solid choice — values are growing steadily and the market is stable enough to buy with confidence.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
- High vacancy: 15.2% of homes vacant — above national norms.
What’s happening in Kankakee, IL (60901)?
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Market Analysis: 60901 Kankakee
This part of Kankakee County is not an easy win. The 60901 ZIP posts softness in key indicators, and the playbook that works in cleaner markets often stalls here.
Rent of $1,249/mo on a $165K basis reads well until vacancy, delinquency, and capex enter the model. The honest cap rate in 60901 sits below the stated 0.0% once reality is priced in.
On the rental side, 60901 offers a low basis, the region around Kankakee has moved on in ways that the ZIP itself has not fully absorbed. The result is a discount with genuine reasons.
The 60901 ZIP's population of 33,224 has faced economic pressure over the last decade. That pressure shows up in rent delinquency patterns that stands at the need for careful underwriting.
Strategy in 60901 is an operator game, not a passive one. In practical terms, entry prices of $165K are inviting, the management lift is real and non-optional.
Here's what matters if you're considering buying a home in Kankakee:
Property Strategy for 60901
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $121,077 | $1,240 | 7.4% | +9.7% | $60,538 |
| 3BR | $180,089 | $1,630 | 6.5% | +8.9% | $60,030 |
| 4BR | $212,651 | $1,660 | 5.6% | +8.6% | $53,163 |
| 5BR | $237,510 | — | — | +8.0% | $47,502 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 60901 Compare?
| Metric | 60901 | Kankakee | Kankakee, IL | Illinois |
|---|---|---|---|---|
| Home Value | $165,209 | $159,924 | N/A | $279,761 |
| 5-Year CAGR | 7.2% | 7.2% | N/A | 6.6% |
| Avg Rent | $1,249 | $1,137 | N/A | - |
| Cap Rate | 5.9% | 5.5% | - | - |
Similar ZIPs Within 25 Miles
Compare other nearby markets to see if a neighbor offers a better fit.
Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 60901 (Kankakee, IL). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $165,209 |
| Monthly Rent | $1,249 |
| Price-to-Rent | 11.0:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 9.1% |
| Cap Rate | 5.9% |
| 5-Year IRR | 13.1% |
📈 Home Appreciation
| 1-Year | +7.8% ▲ |
| 3-Year CAGR | +7.9% ▲ |
| 5-Year CAGR | +7.2% ▲ |
| 10-Year CAGR | +7.5% ▲ |
🏠 Rent Trends
| 1-Year | +8.5% ▲ |
| 3-Year CAGR | N/A |
| 5-Year CAGR | N/A |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (5.9%). Financing reduces your cash-on-cash return below the cap rate. Markets like this may still make sense as IRR plays — factoring in appreciation, depreciation, and a future refinance when rates drop.
Run an IRR Analysis →⚠️ Risk Signals
Composite view of factors that can impact a ZIP's stability and your downside risk.
Demographics in 60901
Population: 33,224
Crime & Safety
Crime & Safety Data Coming Soon
We're integrating comprehensive crime statistics including violent crime rates, property crime, and safety scores to help you make informed investment decisions.
Expected: Q1 2025
🎓 Schools in 60901
Schools in This ZIP Code
About Repit School Scores
Traditional school ratings rely heavily on standardized test scores, which often reflect family income more than school quality. Repit takes a different approach.
We evaluate schools based on factors that research shows actually impact educational outcomes:
- Class Size — Smaller classes mean more individual attention
- School Funding — Resources available for programs, staff, and facilities
- Community Factors — Neighborhood characteristics that influence student success
- School Environment — Size, type, and structure
Scores are updated annually using federal education data.
🎓 Nearby Colleges & Universities
Investor Insight: With 605 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
What are home prices like in Kankakee, IL?
Median home price in Kankakee, IL is near $165K, with a 5-year CAGR of 0.0%. Prices have been consistent and supportive of buy-and-hold strategies.
How do landlord-tenant laws work in Kankakee, IL?
IL ranks as a landlord-friendly state for landlord-tenant law. Kankakee generally follows the statewide framework, so landlords face reasonable operating rules.
What kind of tenants rent in Kankakee, IL?
Tenant quality in Kankakee, IL ranks as solid. Landlords generally report even-keeled occupancy at market rents of $1,249/mo.
What do landlords charge for rent in Kankakee, IL?
Rent in Kankakee, IL is around $1,249/mo. The resulting rent-to-value relationship with $165K pricing is reasonable for most investor models.
Does a duplex house hack pencil in Kankakee, IL?
The a challenging house-hack environment in Kankakee, IL reflects the rent-to-price spread. Expect meaningful PITI offset at market rents.
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How 60901 ranks in Kankakee, IL
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