Housing data for Frankfort Square, IL
Frankfort Square, IL has an estimated 9,560 residents and 3,288 homes (US Census Bureau, 2020–2024 American Community Survey).
It is an unincorporated community in Will County.
4.8% of households rent.
The median gross rent is $1,622 a month.
Figures last updated on .
- Residents
- 9,560 (±699)
- Housing units
- 3,288 (±285)
- Households that rent
- 4.8%
- Median gross rent
- $1,622
- Residents since 2015–2019
- +9.0%
What stands out in Frankfort Square
Households that rent: 4.8% (±3.1 points) in Frankfort Square, lower than in Will County (17.2%).
Homes in buildings of 5 or more units: 1.2% (±1.4 points) in Frankfort Square, lower than in Will County (8.2%).
Households that moved in since 2020: 10.5% (±3.1 points) in Frankfort Square, lower than in Will County (18.5%).
Median household income: $126,897 (±$16,618) in Frankfort Square, higher than in Will County ($109,984).
- Types of homes in Frankfort Square
- How long people stay in Frankfort Square
- Income and affordability in Frankfort Square
Housing in Frankfort Square at a glance
- Median rent: $1,622 median gross rent a month
- Rent by bedrooms: $1,415 median gross rent, 2 bedrooms (Small sample: wide margin of error)
- Rent burden: 37.0% of renters pay 30% or more of income (Small sample: wide margin of error)
- Renters and owners: 4.8% of households rent (Small sample: wide margin of error)
- Income and affordability: $126,897 median household income
- Home values: $305,800 median home value
- Homeowner costs: $2,055 median monthly cost with a mortgage
- Property taxes: $6,827 median real estate taxes a year
- Types of homes: 1.2% of homes are in buildings of 5 or more units
- Bedrooms: 90.4% of homes have 3 or more bedrooms
- Age of homes: 42.6% of homes were built before 1980
- Vacancy rate: 0.0% rental vacancy rate (Small sample: wide margin of error)
- Heating fuel: 96.0% heat with utility gas
- Commute and cars: 28.0 minutes average trip to work
- Growth: +9.0% residents since 2015–2019
- How long people stay: 10.5% moved in since 2020
- Crowding and facilities: 0.7% of homes have more than 1 person per room
Frankfort Square against Will County, its state and the nation
| Frankfort Square | Will County | Illinois | United States | |
|---|---|---|---|---|
| Residents | 9,560 (±699) | 701,462 (exact) | 12,694,798 (exact) | 334,922,499 |
| Housing units | 3,288 (±285) | 254,278 (±158) | 5,457,452 (±471) | 143,775,355 |
| Households that rent | 4.8% (±3.1 points) | 17.2% (±0.6 points) | 32.9% (±0.2 points) | 34.8% |
| Median gross rent | $1,622 (±$257) | $1,462 (±$33) | $1,274 (±$5) | $1,413 |
| Median household income | $126,897 (±$16,618) | $109,984 (±$1,819) | $83,390 (±$362) | $80,734 |
| Median home value | $305,800 (±$16,111) | $319,600 (±$3,152) | $263,300 (±$797) | $332,700 |
| Median real estate taxes (a year) | $6,827 (±$377) | $7,173 (±$64) | $5,298 (±$22) | $3,119 |
| Built before 1980 | 42.6% (±7.1 points) | 37.1% (±0.8 points) | 63.4% (±0.2 points) | 49.7% |
| Average commute | 28.0 minutes (±2.1) | 31.4 minutes (±0.5) | 27.8 minutes (±0.1) | 26.4 minutes |
| Households with broadband | 99.2% (±0.6 points) | 94.1% (±0.4 points) | 90.8% (±0.1 points) | 91.0% |
| Median age of residents | 42.3 years (±4.1) | 39.1 years (±0.2) | 39.0 years (±0.1) | 38.9 years |
Frankfort Square covers 2.5 square miles of land, about 3,830 residents per square mile (Census Bureau Gazetteer).
How Frankfort Square has changed since 2015–2019
| 2015–2019 | 2020–2024 | Amount of change | Verdict | |
|---|---|---|---|---|
| Residents | 8,768 (±586) | 9,560 (±699) | +9.0% | Not a measurable change |
| Housing units | 3,158 (±215) | 3,288 (±285) | +4.1% | Not a measurable change |
| Median gross rent | $1,220 (±$185) | $1,622 (±$257) | +33.0% | No measurable change after inflation |
| Median home value | $223,600 (±$7,004) | $305,800 (±$16,111) | +36.8% | Up after inflation |
| Median household income | $99,951 (±$7,556) | $126,897 (±$16,618) | +27.0% | No measurable change after inflation |
| Median owner cost with a mortgage | $1,864 (±$63) | $2,055 (±$132) | +10.2% | Down after inflation |
| Median real estate taxes | $5,995 (±$183) | $6,827 (±$377) | +13.9% | Down after inflation |
| Households that rent | 8.1% (±2.7 points) | 4.8% (±3.1 points) | −3.3 percentage points | Not a measurable change |
| Rental vacancy rate | 8.6% (±12.8 points) | 0.0% (±21.3 points) | −8.6 percentage points | Not a measurable change |
The Census Bureau publishes 2015–2019 dollars in 2019 dollars and 2020–2024 dollars in 2024 dollars.
Prices (the CPI-U, US Bureau of Labor Statistics) rose 22.7% between 2019 and 2024, so a dollar figure’s verdict compares the two after raising the earlier one by that much, using the Census Bureau’s test for a difference.
The two periods do not overlap, as the Census Bureau recommends for 5-year estimates.
Places near Frankfort Square
| Place | Distance | Median gross rent | Median home value | Households that rent |
|---|---|---|---|---|
| Frankfort Township (Will County) | 2.3 mi | $1,449 | $389,800 | 6.9% |
| Arbury Hills | 2.4 mi | — | $230,200 | 2.7% |
| Matteson | 3.1 mi | $1,580 | $250,600 | 22.6% |
| Tinley Park | 3.2 mi | $1,495 | $299,900 | 13.1% |
| Rich Township | 3.6 mi | $1,434 | $223,900 | 25.5% |
| Frankfort | 3.7 mi | $2,442 | $481,200 | 5.2% |
| Mokena | 3.9 mi | $1,254 | $401,400 | 9.4% |
| Richton Park | 4.3 mi | $1,294 | $220,900 | 48.1% |
Places in Illinois most like Frankfort Square
| Place | Median gross rent | Median home value | Median household income | Households that rent |
|---|---|---|---|---|
| Wayne Township | $1,750 | $371,300 | $136,513 | 8.3% |
| Foster Township (Madison County) | $1,719 | $235,000 | $110,625 | 5.9% |
| Newport Township | $1,359 | $350,100 | $125,074 | 7.9% |
| Grandwood Park | $1,836 | $330,500 | $126,736 | 12.6% |
| Winfield | $1,493 | $386,300 | $135,795 | 8.1% |
| Oakwood Hills | $1,886 | $282,300 | $109,907 | 8.5% |
Matched on rent, home value, income, the share who rent, the age of the homes, the share in apartment buildings and the commute, each measured against the spread across Illinois.
HUD Fair Market Rent for Frankfort Square, fiscal year 2027
| Studio | 1 bedroom | 2 bedrooms | 3 bedrooms | 4 bedrooms |
|---|---|---|---|---|
| $1,678 | $1,780 | $2,011 | $2,586 | $2,954 |
HUD income limits for Frankfort Square, fiscal year 2026
| Household size | Extremely low (30%) | Very low (50%) | Low (80%) |
|---|---|---|---|
| 1 person | $25,550 | $42,550 | $68,050 |
| 2 people | $29,200 | $48,600 | $77,800 |
| 3 people | $32,850 | $54,700 | $87,500 |
| 4 people | $36,450 | $60,750 | $97,200 |
| 5 people | $39,400 | $65,650 | $105,000 |
| 6 people | $44,360 | $70,500 | $112,800 |
| 7 people | $50,040 | $75,350 | $120,550 |
| 8 people | $55,720 | $80,200 | $128,350 |
These are the limits HUD sets for its housing programs in the Chicago-Joliet-Naperville, IL HUD Metro FMR Area, where HUD’s median family income for fiscal year 2026 is $121,500.
A program can use its own limits; tax-credit and local programs often do.
Frankfort Square is a census-designated place: an unincorporated community the Census Bureau draws for statistics, with no municipal government of its own.
Survey years: 2020–2024 (American Community Survey 5-year estimates), compared with 2015–2019.
Margins of error are at the 90% confidence level.
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Questions about Frankfort Square
What is the average rent in Frankfort Square, IL?
The Census Bureau publishes the median rather than the average: the median gross rent in Frankfort Square is $1,622 (±$257) a month (2020–2024 American Community Survey), so half of renting households pay less and half pay more.
What is the median household income in Frankfort Square?
The median household income in Frankfort Square is $126,897 (±$16,618) a year (2020–2024 American Community Survey).
What is the average home value in Frankfort Square, IL?
The Census Bureau publishes the median: $305,800 (±$16,111) for owner-occupied homes in Frankfort Square (2020–2024 American Community Survey).
What is the average mortgage payment in Frankfort Square?
The Census Bureau publishes total owner costs rather than the mortgage alone: the median for owners with a mortgage in Frankfort Square, IL is $2,055 (±$132) a month, including taxes, insurance and utilities.
How much are property taxes in Frankfort Square?
The median real estate tax paid by homeowners in Frankfort Square, IL is $6,827 (±$377) a year (2020–2024 American Community Survey).
How many homes are in Frankfort Square?
Frankfort Square, IL has an estimated 3,288 (±285) housing units, occupied and vacant (2020–2024 American Community Survey).
Is Frankfort Square growing?
In Frankfort Square, the number of residents went from 8,768 in 2015–2019 to 9,560 in 2020–2024 (+9.0%), not a measurable change.
Sources
- Demographic and Housing Estimates (DP05), 2020–2024 ACS 5-year estimates — Frankfort Square CDP, Illinois
- Selected Housing Characteristics (DP04), 2020–2024 ACS 5-year estimates — Frankfort Square CDP, Illinois
- Selected Economic Characteristics (DP03), 2020–2024 ACS 5-year estimates — Frankfort Square CDP, Illinois
- Median Real Estate Taxes Paid by Mortgage Status (B25103), 2020–2024 ACS 5-year estimates — Frankfort Square CDP, Illinois
- Selected Social Characteristics (DP02), 2020–2024 ACS 5-year estimates — Frankfort Square CDP, Illinois
- Total Population (B01003), 2015–2019 ACS 5-year estimates — Frankfort Square CDP, Illinois
- Median Gross Rent (B25064), 2015–2019 ACS 5-year estimates — Frankfort Square CDP, Illinois
- HUD Fair Market Rents, fiscal year 2027: Chicago-Joliet-Naperville, IL HUD Metro FMR Area
- HUD Small Area Fair Market Rents, fiscal year 2027
- HUD Income Limits, fiscal year 2026: Chicago-Joliet-Naperville, IL HUD Metro FMR Area
- Consumer Price Index for All Urban Consumers (CPI-U), US city average, all items, US Bureau of Labor Statistics: annual averages 2019 and 2024
- US Census Bureau, 2024 Gazetteer Files
To check these figures in the Census Bureau’s own API, request the variables below from the 2024 ACS 5-year data profile (acs/acs5/profile) for Frankfort Square CDP, Illinois (place:27644, in state:17).
Each estimate (E or PE) has a margin of error beside it (M or PM).
The 2015–2019 figures are B01003_001E, B01003_001M, B25064_001E, B25064_001M from the 2019 release.
The API needs a free key.
DP05_0001E, DP05_0001M, DP04_0001E, DP04_0001M, DP04_0047PE, DP04_0047PM, DP04_0134E, DP04_0134M, DP03_0062E, DP03_0062M, DP04_0089E, DP04_0089M
This product uses the Census Bureau Data API but is not endorsed or certified by the Census Bureau.
Figures are published by the US Census Bureau, HUD, the Bureau of Labor Statistics and the FBI; Seayora reproduces them and does not adjust them, except where a sentence says it compares dollar figures after inflation. They describe the whole place, not any one building or street, and are not an appraisal, a rent determination, a tax bill, a safety rating or legal advice.
Figures last updated on .