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Affordable
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These days, finding an affordable place to live in the Frankfort area can be challenging. Home prices in Frankfort are now at a median cost of $475,579, higher than the Illinois average of $300,242.
The average cost of rent is $1,577/mo in Frankfort, primarily driven by the current value of real estate in the Frankfort area. In Frankfort, 6.02% of households rent, and 34.29% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Frankfort is $12,720 per month. Households that rent pay about 12.40% of their income on rent here. Frankfort’s most expensive areas are in the southeastern regions, while the cheapest areas are in the northeastern parts of the city.
Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.
Nearby Cities
- Lincoln Estates, IL: less expensive homes
- Frankfort Square, IL: less expensive homes
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- New Lenox, IL: less expensive homes
- Tinley Park, IL: less expensive homes
- Richton Park, IL: less expensive homes
- Orland Hills, IL: less expensive homes
- Monee, IL: less expensive homes
- Manhattan, IL: less expensive homes
Cities with Similar Populations
- Socastee, SC: less expensive homes
- Haslett, MI: less expensive homes
- Hays, KS: less expensive homes
- Heber City, UT: higher priced homes
- Highland Park, MI: less expensive homes
- Hobe Sound, FL: higher priced homes
- Seffner, FL: less expensive homes
- Shafter, CA: less expensive homes
- Shiloh, PA: less expensive homes
- Siloam Springs, AR: less expensive homes
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