515 S Dearborn Ave
515 S Dearborn Ave,
Kankakee, IL 60901
3 Beds | $1,850
Rental Market Trends in Kankakee, IL
Updated September 2026
The average rent in Kankakee, IL is $973/month.
Rent in Kankakee is 42% lower than the national average rent of $1,664/month, making this one of the less expensive cities statewide.
$973/month
Average Rent
190 Sq Ft
Average Size
+1%
Change / Year
14
Available Apartments
Kankakee rent varies by unit size and layout:
- Studio apartments in Kankakee average per month.
- One-bedroom apartments in Kankakee average $973 per month.
- Two-bedroom apartments in Kankakee average $984 per month.
- Three-bedroom apartments in Kankakee average $1,423 or more per month.
Average Rent by Home Type
Bedrooms
Average Rent
Average Sq Ft
How much has average rent changed in Kankakee, IL?
In the past year, rent has increased by 1%, which averages out to $10 more per month.
Market Trends Over Time
September 2026
2025
2026
Rent Ranges in Kankakee, IL
September 2026
Below $701
Most rental prices fall within this range
Percentage*
Rent Range
33%
Below $700/month
17%
$700 - $1,000/month
33%
$1,001 - $1,500/month
17%
$1,501 - $2,000/month
0%
Above $2,000/month
What salary do I need to live comfortably in Kankakee, IL?
Because the average rent in Kankakee is $973, you’ll want to make about $3,243 per month or $38,916 per year. The general guideline is to pay no more than 30 percent of your monthly income on rent. However, you’ll want to consider additional factors, such as your monthly bills and other expenses. Use our rent affordability calculator to help determine how much to budget for rent.
Cost of Living
The cost of living in Kankakee, IL is 12.7% lower than the national average. Generally, housing in Kankakee is 33.1% less expensive than the national average, with rent falling between $0 - $1,423. You can expect to pay 0.9% less for groceries, 6.8% less for utilities, and 4.6% less for transportation.
How does Kankakee, IL compare to other nearby cities and neighborhoods?
Use the tool below to compare Kankakee, IL to other nearby cities and neighborhoods. The Apartments.com neighborhood guides provide you with insight into the area’s transportation, things to do, and more.
Compare Rent Trends Nearby
Get a clearer picture of the area by viewing rent trends in nearby cities.
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Frequently Asked Questions
What is the average rent in Kankakee?
The average rent in Kankakee is $973 per month, which is 41.5% lower than the national average of $1,664.
Are rents going up or down in Kankakee?
Rents in Kankakee, IL are increasing, with prices up 1.0% year-over-year and $10 more per month.
What rent range is most common in Kankakee?
In Kankakee, IL, 33% of apartments fall below $700/month, though prices may vary depending on location and other factors.
Methodology
† Our analysis of utilities, groceries, transportation, healthcare, home prices, and other goods and services is sourced from the Cost of Living Index, a respected benchmark published by the Council for Community and Economic Research (C2ER) that provides a thorough overview of living expenses across different regions.
Rent data is provided by CoStar Group’s Market Trend reports. As the industry leader in commercial real estate information, analytics, and news, CoStar conducts extensive research to produce and maintain a comprehensive database of commercial real estate information. We combine this data with public record to provide the most up-to-date rental information available.
Consumer goods, services, and home prices are sourced from the Cost of Living Index published by the Council for Community and Economic Research (C2ER). The data on this page is updated quarterly. It was last published in September 2026.
Demographic information comes from Neustar and combines detailed address data with U.S. Census and American Community Survey statistics to produce reliable local estimates.
* Percentages may not total 100 due to rounding.