How much do homeowners pay a month in Frankfort Square, IL?

Name: Homeowner costs in Frankfort Square, IL, 2020–2024
Creator: US Census Bureau
License: https://www.census.gov/data/developers/about/terms-of-service.html

Homeowners with a mortgage in Frankfort Square, IL pay a median of $2,055 (±$132) a month in selected owner costs (2020–2024 American Community Survey).

Owners without a mortgage pay $863 (±$146).

77.0% of owned homes carry a mortgage.

In Frankfort Square, the median monthly cost with a mortgage went from $1,864 in 2015–2019 to $2,055 in 2020–2024 (+10.2%).

Prices (CPI-U) rose 22.7% over the same years, so it rose more slowly than prices: a measurable decrease after inflation.

Figures last updated on November 12, 2026.

With a mortgage: $2,055 (±$132)
Without a mortgage: $863 (±$146)
Owned with a mortgage: 77.0%

Monthly owner costs in Frankfort Square

Median selected monthly owner costs, estimate (90% margin of error)
	Frankfort Square	Will County	Illinois	United States
With a mortgage	$2,055 (±$132)	$2,255 (±$21)	$1,987 (±$6)	$1,963
Without a mortgage	$863 (±$146)	$971 (±$15)	$792 (±$4)	$638
Owned homes with a mortgage	77.0% (±6.3 points)	68.6% (±0.8 points)	60.8% (±0.2 points)	60.6%
Median real estate taxes (a year)	$6,827 (±$377)	$7,173 (±$64)	$5,298 (±$22)	$3,119

Selected monthly owner costs are the mortgage payment, property taxes, insurance, utilities, fuels and any condominium or mobile-home fees.

In Frankfort Square, the median cost with a mortgage is lower than in Will County ($2,255).

It is not measurably different from Illinois ($1,987).

It is not measurably different from the national figure ($1,963).

In Will County, Frankfort Square ranks 28 of 57 places with a published estimate, from highest to lowest median monthly cost with a mortgage.

Statewide, it ranks 370 of 2,589.

Rankings use the estimates alone; where margins of error overlap, neighboring ranks may not truly differ.

How owner costs in Frankfort Square have changed since 2015–2019

2015–2019 and 2020–2024 American Community Survey 5-year estimates
	2015–2019	2020–2024	Amount of change	Verdict
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
Median home value	$223,600 (±$7,004)	$305,800 (±$16,111)	+36.8%	Up after inflation

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.

Median monthly cost with a mortgage in places near Frankfort Square

Nearest places with a published estimate, compared with Frankfort Square
Place	Distance	Median monthly cost with a mortgage	Compared with this place
Frankfort Square	—	$2,055 (±$132)	—
Frankfort Township (Will County)	2.3 mi	$2,529 (±$113)	Higher
Arbury Hills	2.4 mi	$1,659 (±$208)	Lower
Matteson	3.1 mi	$2,213 (±$156)	Not measurably different
Tinley Park	3.2 mi	$2,129 (±$68)	Not measurably different
Rich Township	3.6 mi	$2,044 (±$86)	Not measurably different
Frankfort	3.7 mi	$3,128 (±$187)	Higher
Mokena	3.9 mi	$2,575 (±$229)	Higher
Richton Park	4.3 mi	$1,846 (±$118)	Lower

Nearby places with a measurably lower figure: Arbury Hills, IL ($1,659), Richton Park, IL ($1,846).

Nearby places with a measurably higher figure: Frankfort Township (Will County), IL ($2,529), Frankfort, IL ($3,128), Mokena, IL ($2,575).

Distance is measured in a straight line between the Census Bureau’s internal points for each place.

Median monthly cost with a mortgage across Will County, place by place

Rank	Place	Median monthly cost with a mortgage
22	Monee	$2,180 (±$100)
23	Troy Township	$2,167 (±$54)
24	Washington Township (Will County)	$2,117 (±$209)
25	Beecher	$2,100 (±$234)
26	Monee Township	$2,064 (±$119)
27	Custer Township	$2,061 (±$294)
28	Frankfort Square	$2,055 (±$132)
29	Jackson Township (Will County)	$2,024 (±$158)
30	Wesley Township	$2,020 (±$265)
31	Florence Township (Will County)	$2,010 (±$395)
32	Joliet	$1,960 (±$31)
33	Crete	$1,935 (±$157)
34	Romeoville	$1,934 (±$57)

Showing 13 of 57 places in Will County, ranked from highest to lowest.

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 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 does it cost to own a paid-off home in Frankfort Square?

Owners without a mortgage in Frankfort Square pay a median of $863 (±$146) a month in taxes, insurance, utilities and fees.

Has the cost of owning a home in Frankfort Square gone up?

In Frankfort Square, the median monthly cost with a mortgage went from $1,864 in 2015–2019 to $2,055 in 2020–2024 (+10.2%).

Prices (CPI-U) rose 22.7% over the same years, so it rose more slowly than prices: a measurable decrease after inflation.

Sources

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) and detailed tables (acs/acs5) 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 B25088_002E, B25088_002M, B25103_001E, B25103_001M, B25077_001E, B25077_001M from the 2019 release.

The API needs a free key.

Request a Census API key.

DP04_0101E, DP04_0101M, DP04_0109E, DP04_0109M, DP04_0091PE, DP04_0091PM, B25103_001E, B25103_001M

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.