Cheap Homes for Rent in Kankakee, IL from $400 (15 Rentals)

How Many Bedrooms?Done
Select your price rangeDone
By AmenitiesDone
By Community TypeDone
Done

Search the lowest-cost Homes available for rent right now in Kankakee.

property at 169 S 3rd Ave

169 S 3rd Ave

KankakeeIL60901
property at 405 E Reed St

405 E Reed St

BraidwoodIL60408
property at 29837 IL-50

29837 IL-50

PeotoneIL60468

Kankakee, IL Local Guide

Cheapest Neighborhoods for Apartments in Kankakee, IL

Pricing Updated: 03/22/2025

Current apartment rentals in the Kankakee, IL area range in price from to with an overall median price of . Here is today’s list neighborhoods with the lowest median pricing for Kankakee Apartments for rent:

NeighborhoodMedian PriceMin PriceAvailable Units
Downtown Kankakee$1,600$479488

Cheapest Available Kankakee Apartments for Rent

 
Apartment ListingModel NameBed/BathPriced From
Sherwood Forest Apartment Homes3 Bedroom3BR,2BA$1,399

Best Value Apartments for Rent in Kankakee, IL

As of March 22, 2025 the best value apartment in the Kankakee area is the $1.30 price per square foot 3 Bedroom Model at Sherwood Forest Apartment Homes in the starting from $1,399. The second greatest value Kankakee apartment is the 1720 W Merchant St Model at 1720 W Merchant St, Unit A starting at $980 with a $1.15 price per square foot in the Northfield Square Mall neighborhood. Here is today’s list of the best values for Kankakee apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Sherwood Forest Apartment Homes3 Bedroom3BR,2BA$1.30
1720 W Merchant St, Unit A1720 W Merchant St2BR,1BA$1.15
125 N W Ave, Unit 3125 N W Ave1BR,1BA$2.00

Quick Rent Budget Calculator

How much rent can you afford?

The common "Rule of Thumb" is that rent should be no more than 30% of your income. How much is that? Enter your monthly income and click "Calculate My Budget" to find out.

decorative image of people with a giant lease agreement

Frequently Asked Questions about Kankakee

What type of rentals are currently available in Kankakee?

There are currently 129 Apartments for Rent in Kankakee, IL with pricing that ranges from $750 to $1,250. There are also 36 Single Family Homes for rent, Condos, and Townhome rentals currently available in Kankakee ranging from $479 to $5,200.

What is the current price range for Rental Homes in Kankakee?

Today's rental pricing for Homes for Rent, Condos and Townhomes in Kankakee ranges from $479 to $5,200 with an average monthly rent of $1,585.

Expert Rental Resources

Helpful Apartment Articles, How-To's and Tips

The rental experts at ApartmentHomeLiving.com provide you with top advice, tools, and tips for understanding the leasing process and finding the perfect rental. Here are a few helpful rental and leasing articles from our experts to guide you on your search.

decorative image for Understanding Amenity Fees: Know Where You Might Be Able to Save Money article

Understanding Amenity Fees: Know Where You Might Be Able to Save Money

Written by: Amber Kanuckel

With the rising costs of housing, a lot of renters are asking this question: Is it possible to opt out of various amenities that your rental property offers so that you can avoid paying the fees.

decorative image for What to Know About Fees and Fines When Renting article

What to Know About Fees and Fines When Renting

Written by: Trey Huguley

When it comes to renting a new apartment or home there can be a number of fees that you will want to keep in mind going into the process.

decorative image for Battling the Butts: Your Guide to the Reality of Smoke-Free Renting article

Battling the Butts: Your Guide to the Reality of Smoke-Free Renting

Written by: Andrea Lee Negroni, JD

While many apartment buildings are “no smoking” properties, it’s hard to know exactly how many. In 2017, the National Apartment Association reported more than half of rental properties had smoke free policies.

decorative image for How Your Move-In Inspection Can Protect Your Security Deposit  article

How Your Move-In Inspection Can Protect Your Security Deposit

Written by: Christine Leonard, Esq.

If you’re anything like most people, housing costs represent a huge chunk of your monthly budget. On top of that, moving can be both a stressful and expensive affair.