Cost of Living in Frankfort, IL
Population 20,417 · Illinois · Data vintage 2023
(100 = US avg)
Frankfort is effectively a commuter community: the average resident spends 36 minutes each way getting to work, well above the 27-minute US median. Housing costs ($462,000 for a typical home) tend to reflect the tradeoff between price and access.
Frankfort sits roughly 14 miles east of Joliet — close enough that regional housing and labor patterns are shaped largely by the larger market. Median home values run roughly 86% higher than Joliet's $249,000.
Cost Overview
Scale: 100 = US national average. Green < 90, Red > 110.
About the Cost of Living in Frankfort
The median home value in Frankfort is $461,600 — 51% above the national median of $305,000. Median rent runs $2,175/month, 66% higher than the national median of $1,314/month. The median household income of $153,714/year is 106% higher than the US median of $74,580. The local unemployment rate is 3.6%, below 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 has a cost of living index of 157 versus the US average of 100, meaning it is 57% more expensive.
🏠 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, IL?
Frankfort has a cost index of 157 (100 = national average). It is 57% above the national average.
What is average rent in Frankfort, IL?
The median gross rent in Frankfort is $2,175 per month based on 2023 Census data.
What is the average home price in Frankfort?
The median home value in Frankfort is $461,600 according to Zillow and Census data.
What is the median income in Frankfort?
The median household income in Frankfort is $153,714 per year (2023 ACS 5-year estimates).
What is the sales tax in Frankfort, IL?
The combined state and local sales tax rate in Frankfort is 8.7%. The Illinois state income tax top rate is 5.0%.
Is Frankfort, IL affordable?
Frankfort is above average in cost of living, with an index of 157 — about 57% higher than the national average.
Frankfort at a Glance
- Population
- 20,417
- Median Income
- $153,714
- Home Value
- $461,600
- Median Rent
- $2,175/mo
- Unemployment
- 3.6%
- Sales Tax
- 8.7%
Nearby Cities
Explore county-level cost of living data
Illinois Rankings
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