Frankfort, IL Profile: Facts & Data

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Frankfort, Illinois - Basic Facts

The Village of Frankfort had a population of 19,577 as of July 1, 2019. Frankfort ranks in the upper quartile for Diversity Index when compared to the other cities, towns and Census Designated Places (CDPs) in Illinois. See peer rankings below.

The primary coordinate point for Frankfort is located at latitude 41.4959 and longitude -87.8487 in Will County. The formal boundaries for the Village of Frankfort encompass a land area of 15.06 sq. miles and a water area of 0 sq. miles. Will County is in the Central time zone (GMT -6). The elevation is 761 feet.

The Village of Frankfort (GNIS ID: 2398915) has a C1 Census Class Code which indicates an active incorporated place that does not serve as a county subdivision equivalent. It also has a Functional Status Code of "A" which identifies an active government providing primary general-purpose functions.

The Village of Frankfort is located within Township of Frankfort, a minor civil division (MCD) of Will County.

Alternate Unofficial Names for Frankfort: Frankfort Station.

Jump to... (On This Page!)
  1. Frankfort 2019 Demographic Data
  2. Growth Rates for Frankfort (Historical & 5-Year Forecast)
  3. Peer Comparisons (Rank and Percentile)
  1. Neighborhoods Demographics (Home Values, Household Income, etc.)
  2. Illinois Research Tools (Easy Tools & Current Data)
  3. Illinois Data Comparison Tool - 2019 Demographics

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Boundary Maps, Demographic Data, School Zones Review maps and data for the neighborhood, city, county, ZIP Code, and school zone. July 1, 2019, data includes home values, household income, percentage of homes owned, rented or vacant, etc.


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Frankfort, IL Data & Demographics (As of July 1, 2019)

HOUSING AFFORDABILITY INDEX

Frankfort, IL Housing Affordability Index is 144
State of Illinois Housing Affordability Index is 119
The Housing Affordability Index base is 100 and represents a balance point where a resident with a median household income can normally qualify to purchase a median price home. Values above 100 indicate increased affordability, while values below 100 indicate decreased affordability.

WEALTH INDEX

Frankfort, IL Wealth Index is 233
State of Illinois Wealth Index is 105
The Wealth Index is based on a number of indicators of affluence including average household income and average net worth, but it also includes the value of material possessions and resources. It represents the wealth of the area relative to the national level. Values above or below 100 represent above-average wealth or below-average wealth compared to the national level.

These new demographic attributes are availiable for Neighborhoods, Cities, Counties, and ZIP Codes.

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  4. See the References & Data Sources page for more information about methodology and sources of data.

POPULATION

Total Population 19,577
Population in Households 19,416
Population in Familes 18,068
Population in Group Qrtrs 161
Population Density 1,218
Diversity Index1 33
 

INCOME

Median Household Income $117,253
Average Household Income $146,686
Per Capita Income $48,308
Wealth Index3 233

HOUSING

Total Housing Units 6,725 (100%)
Owner Occupied HU 6,063 (90.2%)
Renter Occupied HU 359 ( 5.3%)
Vacant Housing Units 303 ( 4.5%)
Median Home Value $374,099
Housing Affordability Index2 144
 

HOUSEHOLDS

Total Households 6,422
Average Household Size 3.02
Family Households 5,415
Average Family Size 3
NOTES
  1. The Diversity Index is a scale of 0 to 100 that represents the likelihood that two persons, chosen at random from the same area, belong to different race or ethnic groups. If an area's entire population belongs to one race AND one ethnic group, then the area has zero diversity. An area's diversity index increases to 100 when the population is evenly divided into two or more race/ethnic groups.
  2. The Housing Affordability Index base is 100 and represents a balance point where a resident with a median household income can normally qualify to purchase a median price home. Values above 100 indicate increased affordability, while values below 100 indicate decreased affordability.
  3. The Wealth Index is based on a number of indicators of affluence including average household income and average net worth, but it also includes the value of material possessions and resources. It represents the wealth of the area relative to the national level. Values above or below 100 represent above-average wealth or below-average wealth compared to the national level.

GROWTH RATE / YEAR

2010-2019 2019-2024
Population 1.02% 0.85%
Households 1.06% 0.86%
Families 0.92% 0.8%
Median Household Income   1.05%
Per Capita Income   1.29%

Frankfort, IL - Peer Comparisons by Rank and Percentile

The table below compares Frankfort to the other 1,369 incorporated cities, towns and CDPs in Illinois by rank and percentile using July 1, 2019 data. The location Ranked # 1 has the highest value. A location that ranks higher than 75% of its peers would be in the 75th percentile of the peer group.

Variable Description Rank Percentile
Total Population # 125 91st
Population Density # 610 56th
Diversity Index # 337 75th
Median Household Income # 43 97th
Per Capita Income # 85 94th

Additional comparisons and rankings can be made with a VERY EASY TO USE Illinois Census Data Comparison Tool.

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