Cost of Living in Frankfort Square, IL
Population 9,777 · Illinois · Data vintage 2023
(100 = US avg)
Frankfort Square is a smaller Illinois community of around 10000 residents, where median household incomes of $126,953 and housing costs ($282,000 for a typical home) give the local cost-of-living profile a distinctly small-town shape. Unemployment has stayed elevated relative to the national figure — 7.3% as of the most recent ACS release — which shows up in household-income and poverty figures as well.
Frankfort Square sits roughly 20 miles east of Joliet — close enough that regional housing and labor patterns are shaped largely by the larger market. Median home values run roughly 13% higher than Joliet's $249,000.
Cost Overview
Scale: 100 = US national average. Green < 90, Red > 110.
About the Cost of Living in Frankfort Square
The median home value in Frankfort Square is $282,100 — 8% below the national median of $305,000. Median rent runs $1,511/month, 15% higher than the national median of $1,314/month. The median household income of $126,953/year is 70% higher than the US median of $74,580. The local unemployment rate is 7.3%, above the national average of 4.8%. Illinois's top state income tax rate is 5.0% and the combined sales tax is 8.7%. Overall, Frankfort Square has a cost of living index of 101 versus the US average of 100, meaning it is 1% more expensive.
Frankfort Square is a military installation
This location is a military installation. Civilian housing is primarily found in surrounding communities — here are the nearest cities with full cost of living data:
🏠 Housing
HUD Fair Market Rents by Bedroom
💰 Estimated Monthly Budget
Estimates based on median data and national averages. Actual costs vary.
🛒 Food & Groceries
National BLS average prices (2023). Local prices may vary.
🚗 Transportation
Commute Mode
⚡ Utilities
📋 Taxes
💼 Income & Employment
🎓 Education
👥 Demographics
💨 Air Quality
EPA AQS 2023 — county-level monitoring data
Frequently Asked Questions
What is the cost of living in Frankfort Square, IL?
Frankfort Square has a cost index of 101 (100 = national average). It is 1% above the national average.
What is average rent in Frankfort Square, IL?
The median gross rent in Frankfort Square is $1,511 per month based on 2023 Census data.
What is the average home price in Frankfort Square?
The median home value in Frankfort Square is $282,100 according to 2023 Census ACS data.
What is the median income in Frankfort Square?
The median household income in Frankfort Square is $126,953 per year (2023 ACS 5-year estimates).
What is the sales tax in Frankfort Square, IL?
The combined state and local sales tax rate in Frankfort Square is 8.7%. The Illinois state income tax top rate is 5.0%.
Is Frankfort Square, IL affordable?
Frankfort Square is near the national average in terms of cost of living, with an index of 101 (100 = US average).
Frankfort Square at a Glance
- Population
- 9,777
- Median Income
- $126,953
- Home Value
- $282,100
- Median Rent
- $1,511/mo
- Unemployment
- 7.3%
- Sales Tax
- 8.7%
Nearby Cities
Explore county-level cost of living data
Illinois Rankings
Similar Cost Cities
Cities in other states with comparable housing costs