Rent to own Homes in Kankakee, IL
Kankakee is a historic small city in eastern Illinois, close to both Chicago and the Indiana border. Home to attractions like Frank Lloyd Wright designed homes and huge state parks, as well as museums and ample shopping and dining spots, Kankakee offers something for everyone. It has big city amenities while still maintaining small town charm. This has allowed Kankakee to remain a friendly, community-oriented place to live -- something residents value a great deal.
Kankakee, IL is a great place for affordable rent-to-own homes! With a median household income of over $38,763 and a median rent of $844, the Kankakee, IL rent-to-own market is more affordable than the traditional housing market which has shown tremendous growth across the U.S. and with it, aggressive competition for home purchases. With the current housing shortage trend it can make it harder to become a homeowner, including in Kankakee, IL. This means higher than average down payments for homes and higher qualification standards for conventional home loans. With a rent-to-own property, tenants are also buyers. You can live in the house for a set amount of time before you purchase it, meaning that you get to know the house, your neighbors, and your community before making the final purchase. This enables you and your family to make the right choice based on both information and experience. Rent-to-own is also a great alternative way to get into a home if you have bad credit or don't have enough saved for a down payment.
More Kankakee, IL Property Resources
Rent to own Homes in Cities Near Kankakee, IL
- Alsip
- Blue Island
- Burnham
- Calumet City
- Calumet Park
- Cedar Lake
- Chicago Heights
- Country Club Hills
- Crestwood
- Crete
- Demotte
- Dyer
- East Chicago
- Evergreen Park
- Flossmoor
- Ford Heights
- Frankfort
- Frankfort Square
- Goodenow
- Griffith
- Hebron
- Highland
- Hobart
- Hometown
- Homewood
- Lakes of the Four Seasons
- Manteno
- Markham
- Matteson
- Merrionette Park
- Midlothian
- Mokena
- New Chicago
- Oak Forest
- Orland Park
- Palos Heights
- Park Forest
- Peotone
- Phoenix
- Portage
- Roselawn
- Sauk Village
- Schneider
- Shorewood Forest
- South Chicago Heights
- Steger
- Thayer
- Thornton
- Tinley Park
- Worth
Neighborhoods in Kankakee, IL
Downtown Kankakee Historic District rent to own homes Kankakee Riverfront rent to own homesPopular Zip Codes in Kankakee, IL
60901 rent to own homesBuying a Home in Kankakee, IL
Kankakee, IL is seeing rapid growth and Kankakee, IL's' housing market remains optimal with an average home price that is -60% below the 2024 national average. Kankakee, IL is part of Kankakee county and taxes are an important factor to consider when purchasing a home whether through rent to own or a traditional purchase. The average tax rate as of 2024 for county Kankakee is 1.91% which is above the national average, which is 0.99%.
Median Home Price in Kankakee, IL
Median Rent in Kankakee, IL
Top 5 Reasons to Live in Kankakee, IL
Enjoy affordable housing prices! The housing market is going strong in Kankakee. With a median home cost of just over $80,000, first-time buyers or those on a budget can find their dream home in this community-centered town. Housing options include large, older houses or newer rent to own homes with modern amenities. Spruce St. and Wildwood Ave. boast affordable options.
See the great outdoors! Kankakee has an amazing park district, with over 600 acres of public land for residents to enjoy. The nearby Kankakee River State Park has bike and walking paths. Fishing is a popular pastime in town, and spots like Bird Park are great for that. Other green areas, such as Perry Farm Park and Old Fair Park, are great for simply relaxing outside. Kankakee also has a marina, a civic auditorium, and numerous public tennis and basketball courts.
Visit historic must-see sites! From the railroad depot to local history museums, Kankakee offers a lot for history buffs. The historic district is home to breathtaking mansions and beautiful architecture. But what draws many to Kankakee every year are the Frank Lloyd Wright homes in this small town. The Warren Hickox and H. Harley Bradley homes cannot be missed if you are a fan of architecture!
Savor the tasty cuisine! Residents of Kankakee don't have to make the trek to Chicago for first-rate meals, as good food is available all over town. Have some ribs at Bull's Pit Smoked Barbecue, get an entree and a drink at Soul Da Soul Restaurant, or have a casual breakfast at Bill's Diner.
Shop for homes with yards! Privacy and personal space come at a premium in other cities, but Kankakee's wide variety of single-family residences mean it's easy to find a home with space to play. Affordable housing prices mean you can buy a house with some serious property without busting the bank or going into a large amount of debt. With old trees and river views, yards in Kankakee are things of beauty. Grow a garden, build onto the house, or just enjoy the freedom of having a backyard of your own. Particularly large lots can be found on N. 5500 W. Rd. and Stonefence Dr.