A+
16%
Overall NAT. AVG.
5%
Goods & Services NAT. AVG.
40%
Housing NAT. AVG.
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Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.
The cost of living index is based on a national average of 100. For example, if the cost of living is 90, then it is 10% lower than average. If the cost of living is 110, then it is 10% higher than average. The breakdown for each index is as follows: goods & services (33%), groceries (13%), health care (5%), housing (30%), transportation (9%) and utilities (10%). If the cost of living data was unavailable for this city, estimates based upon nearby cities were used.
Index Kankakee Illinois National
Cost of living8496100
Goods & Services9697100
Groceries9798100
Health care9095100
Housing6095100
Transportation95103100
Utilities9089100

An Overview of Cost of Living in Kankakee, IL

Understanding the cost of living in Kankakee can help future residents assess whether their current financial situation aligns with the expenses they will encounter. It enables them to plan for potential changes in their budget and lifestyle. The Kankakee cost of living index is 84, which is 16% lower than the national average. The cost of living index is calculated by taking into account multiple categories, which encompass both the cost of everyday expenditures and larger expenses as well.

Housing expenses can absorb a substantial portion of your net income, sometimes exceeding 30%. Thankfully, Kankakee stands out by reporting housing costs that are 40.3% lower than the national average. This signifies that both homeownership and rental expenses in this region are considerably more budget-friendly compared to the rest of the country. With such favorable housing affordability, residents of Kankakee can allocate a more reasonable portion of their income to housing, allowing for greater financial flexibility.

Is Kankakee Affordable?

Is Kankakee affordable? This is a pivotal question, especially when mulling over a move, as affordability carries substantial weight in your decision-making process. Factors such as the cost of living index (discussed earlier), housing expenses and income levels all contribute to a location's affordability. For instance, in Kankakee, the median home price is 52.9% lower than the national average and monthly rent prices are 11.1% lower than the typical rates. Additionally, the median income levels play a role in affordability, with Kankakee boasting a median household income of $38,763, 29.9% lower than the national average.

What Factors can Influence the Cost of Living in Kankakee?

Groceries: Grocery expenditures have undergone notable escalation over the last 2-3 years. In some markets, the cost of food products has surged by more than 20%, while others have experienced only modest increments. These fluctuations in food costs can have a significant impact on the overall cost of living in any region. In Kankakee, the groceries index registers 2.6% lower than the national average.

Urbanization: Larger, urban hubs brimming with ample amenities and robust employment opportunities often showcase a heightened cost of living. This surge is primarily attributed to the amplified demand for services and increased residential migration, culminating in elevated home prices and elevated rental rates. Conversely, less densely populated rural locales or regions characterized by reduced demand tend to offer a more limited array of amenities and undergo slower job market growth, ultimately yielding a more affordable cost of living.

Subsidies: Certain cities or states may implement government subsidies or assistance programs with the goal of alleviating the cost of living pressures on their residents. These programs encompass a broad spectrum of support mechanisms, including Medicare, Medicaid, housing subsidies, low-income home energy assistance programs, school lunch programs, supplemental nutrition assistance programs, student loans, electric vehicle tax credits, affordable care act subsidies and farming subsidies. Areas offering fewer subsidies may experience a rise in their cost of living.

Where is the Data From?

The Kankakee cost of living data displayed above is derived from the C2ER cost of living index to provide a useful and reasonably accurate measure of living cost differences in urban areas. The index takes into account data from 300 independent researches, covering more than 60 goods and services across 6 different categories, to create an overall index for each area, with 100 being the average. The C2ER index does not include sales or income tax rates in their data, however AreaVibes does include both income and sales tax rates in the overall cost of living score for each area.

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Cost Of Living Quick Facts

  • The cost of living in Kankakee is 13% lower than the Illinois average
  • The cost of living in Kankakee is 16% lower than the national average
  • Kankakee housing is 40% lower than the national average
  • Illinois general sales tax is 22% higher than the national average
  • Illinois state income tax is 91% higher than the national average

Most Affordable Places to Live in and Around Kankakee

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Compare Kankakee, IL Cost of Living

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      Salary Calculator

      This is how much you would need to earn in
      Price difference in compared to
      Cost of living index
      Goods & Services index
      Groceries index
      Health care index
      Housing index
      Transportation index
      Utilities index

      Median Income & Debt-To-Income Ratio

      Median Income Per Year Per Month Max Budget (28% DTI) Max Budget (36% DTI)
      Owners$58,589$4,882$1,367$1,758
      Renters$24,620$2,052$574$739
      A good indicator of the general affordability of housing in Kankakee, IL, is the percentage of monthly income that should be spent on housing expenses, otherwise known as the debt-to-income ratio (DTI). Generally speaking, no more than 28 percent of your total gross income should be spent on your housing expenses and not more than 36 percent of your gross income on total expenses, including debts. In Kankakee, the median monthly income is $58,589 for those who own their own homes. Under the standard rule, that income level would allow for $1,367 to be budgeted for housing expenses each month, at the most. Renters, on the other hand, earn about $24,620, per the median income in the area. That would allow for renters to spend up to $574 on monthly rental expenses.

      Illinois Sales Tax

      State General Sales Tax With Max Surtax
      Illinois 6.25% 10.25%

      Illinois Income Tax

      State Income Tax (Low) Income Tax (High)
      Illinois 4.95% 4.95%

      Goods & Services

      Item Kankakee National avg. Difference
      Haircut $23.56$24.262.9%
      Beauty Salon $42.28$45.567.2%
      Toothpaste $3.77$3.701.9%
      Shampoo $1.46$1.2813.8%
      Movie $8.75$12.1327.9%
      Bowling $18.33$18.001.9%

      Groceries

      Item Kankakee National avg. Difference
      Ground Beef $6.31$5.848.0%
      Fried Chicken $1.39$1.5711.4%
      Milk $4.63$4.670.8%
      Potatoes $4.96$4.930.5%
      Pizza $13.80$12.0914.1%
      Beer $10.43$10.410.2%

      Health Care

      Item Kankakee National avg. Difference
      Optometrist $93.66$125.6825.5%
      Doctor $120.22$135.7811.5%
      Dentist $113.44$113.290.1%
      Ibuprofen $10.48$10.651.7%
      Lipitor $365.52$468.6022.0%

      Housing

      Item Kankakee National avg. Difference
      Home Price $87,000.00$184,700.0052.9%
      Avg. Mortgage Payment $1,536.70$2,346.6934.5%
      Apartment Rent $844.00$949.0011.1%

      Transportation

      Item Kankakee National avg. Difference
      Gasoline $3.17$3.468.3%
      Tire Balancing $61.36$59.922.4%

      Utilities

      Item Kankakee National avg. Difference
      All Electricity $157.45$193.9918.8%
      Phone $197.49$192.252.7%
      Although the cost of living data is updated regularly, this cost of living information is to be used as estimates only as prices can change on an ongoing basis.

      Nearby cities with low cost of living

      City Population Cost of Living Index National Avg.
      Hopkins Park, IL5917822.0%
      Donovan, IL2728218.5%
      Beaverville, IL3708217.9%
      Papineau, IL1288316.7%
      Martinton, IL3468415.7%
      Kankakee, IL25,8188415.9%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Mercer Island, WA25,820261161.2%
      Mauldin, SC25,829981.6%
      Holbrook, NY25,79414242.0%
      Socastee, SC25,846981.6%
      Lebanon, PA25,779928.4%
      Kankakee, IL25,8188415.9%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.