Metro area index
Home appreciation in the Kankakee, IL metro area
FHFA HPI® data shows the Kankakee, IL metro area's all-transactions index changed +5.5% over the year to Q2 2026, versus +6.0% for Illinois and +3.0% for the U.S. That ranks 80th of 410 metro areas and divisions FHFA tracks.
- 1-year change
- +5.5%
- 5-year change
- +45.5%
- Since Q1 1995
- +151%
- Metro rank (1 year)
- 80th
U.S. +3.0%
U.S. +41.3%
U.S. +292%
of 410
Kankakee, IL vs Illinois and the U.S.
FHFA HPI® all-transactions index, rebased so Q1 1995 = 100, through Q2 2026
- Kankakee, IL: 250.7
- Illinois: 283.5
- United States: 391.6
Appreciation by time window
| Window | Metro | IL | U.S. | Gap vs IL | Gap vs U.S. |
|---|---|---|---|---|---|
| 1 year | +5.5% | +6.0% | +3.0% | −0.5 pts | +2.5 pts |
| 3 years | +22.1% | +21.8% | +12.9% | +0.4 pts | +9.3 pts |
| 5 years | +45.5% | +46.9% | +41.3% | −1.4 pts | +4.2 pts |
| 10 years | +83.1% | +75.6% | +93.3% | +7.5 pts | −10.2 pts |
| Since Q1 1995 | +151% | +184% | +292% | −32.8 pts | −140.8 pts |
3-digit ZIP regions in the Kankakee, IL area
Regions with at least 10% of their 2010 population inside the metro, largest overlap first. A 3-digit ZIP region can extend beyond the metro boundary.
| 3-digit ZIP region | State | 1 year | 5 years | Since Q1 1995 | Population in metro |
|---|---|---|---|---|---|
| 609 · Kankakee, IL area | IL | +4.5% | +45.5% | +157% | 67% |
Boom, bust, and recovery in Kankakee, IL area
Kankakee, IL area's index peaked in Q4 2007, fell 18.1% to its low in Q1 2014, and regained its peak in Q4 2020, about 13 years after the top. Today it sits +55.6% versus that 2000s peak. How every state and ZIP region fared
| Area | 2000s peak | Low point | Peak to low | Back to peak | Today vs peak |
|---|---|---|---|---|---|
| Metro | Q4 2007 | Q1 2014 | -18.1% | Q4 2020 (13 yrs) | +55.6% |
| IL | Q1 2007 | Q2 2012 | -21.8% | Q2 2021 (14.2 yrs) | +51.8% |
| U.S. | Q1 2007 | Q2 2012 | -19.0% | Q4 2016 (9.8 yrs) | +89.3% |
Appreciation after inflation
Adjusting for consumer price inflation, Kankakee, IL area's index has changed +13.2% in real terms since Q1 1995. Home prices vs inflation
| Window | Inflation (CPI-U) | Metro after inflation | IL after inflation | U.S. after inflation |
|---|---|---|---|---|
| 1 year | +3.9% | +1.6% | +2.0% | -0.8% |
| 3 years | +9.8% | +11.2% | +10.9% | +2.8% |
| 5 years | +24.0% | +17.3% | +18.4% | +13.9% |
| 10 years | +39.1% | +31.7% | +26.3% | +39.0% |
| Since Q1 1995 | +121% | +13.2% | +28.0% | +76.8% |
If you bought in the Kankakee, IL area in…
An example $300,000 purchase grown at the metro index rate to Q2 2026.
| Bought in | Index change | $300,000 then, at the metro rate |
|---|---|---|
| Q2 1995 | +150% | $750,464 |
| Q2 2000 | +118% | $653,453 |
| Q2 2005 | +74.9% | $524,686 |
| Q2 2010 | +70.4% | $511,311 |
| Q2 2015 | +81.7% | $545,065 |
| Q2 2020 | +57.9% | $473,701 |
| Q2 2021 | +45.5% | $436,381 |
| Q2 2023 | +22.1% | $366,386 |
| Q2 2025 | +5.5% | $316,512 |
Frequently asked questions
- How much have home prices risen in the Kankakee, IL area?
- FHFA HPI® data for the Kankakee, IL metro area shows changes of +5.5% over one year, +45.5% over five years, and +83.1% over ten years to Q2 2026, and +151% since Q1 1995.
- Is the Kankakee, IL area beating the national average?
- Over the past year the metro's index moved +2.5 pts versus the U.S.; over five years the gap is +4.2 pts.
- What area does this metro index cover?
- FHFA computes metro indexes using the counties in each OMB-defined metropolitan statistical area. The index covers the whole area, so individual neighborhoods and homes can differ from it.