Frankfort, IL


Highest Appreciating Frankfort Neighborhoods Since 2000

Frankfort, IL Real Estate Data

Frankfort Housing Market Information

With a population of 18,653, 5,689 total housing units (homes and apartments), and a median house value of $349,545, Frankfort house prices are not only among the most expensive in Illinois, Frankfort real estate also is some of the most expensive in all of America.

Single-family detached homes are the single most common housing type in Frankfort, accounting for 79.11% of the village's housing units. Other types of housing that are prevalent in Frankfort include row houses and other attached homes ( 16.32%), large apartment complexes or high rise apartments ( 2.37%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 2.19%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Frankfort. Owner-occupied housing accounts for 92.90% of Frankfort's homes, and 73.63% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Frankfort built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Frankfort built between 2000 and later ( 40.75%). A lesser amount of the housing stock also hails from between 1940-1969 ( 9.56%). There's also some housing in Frankfort built before 1939 ( 2.94%).

Frankfort Home Appreciation Rates

Frankfort's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Frankfort during the period has been just -1.47%, which is lower than 80% of US communities.

Over the last year, Frankfort appreciation rates have trailed the rest of the nation. In the last twelve months, Frankfort's appreciation rate has been 3.90%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Frankfort were at 1.63%, which equates to an annual appreciation rate of 6.69%.

Relative to Illinois, our data show that Frankfort's latest annual appreciation rate is lower than 80% of the other cities and towns in Illinois.

One very important thing to keep in mind is that these are average appreciation rates for the village. Individual neighborhoods within Frankfort differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Frankfort - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Frankfort real estate investment or home purchase decisions.

Average Home Values


Median Home Value:


Value Range
> $1,076,000 0.7
$807,001 - $1,076,000 2.0
$538,001 - $807,000 8.7
$431,001 - $538,000 18.5
$323,001 - $431,000 27.2
$215,001 - $323,000 28.4
$108,001 - $215,000 9.8
$54,001 - $108,000 3.1
$0 - $54,000 1.7

Very High for IL
Very High for Nation

Value Relative to Nation Value Relative to State
12.6310241845757 7.9746835443038

Number Of Homes And Apartments:

Rent & Ownership


Average Market Rent:
$1,532 / per month

Homeownership Rate

Owners 92.90
Renters 7.10
Vacant 5.53

Housing Market Details


Age of Homes

AGE OF Frankfort HOMES
2000 or Newer 40.8
1970 - 1999 46.7
1940 - 1969 9.6
1939 or Older 2.9

Types of Homes

Single-Family 79.1
Townhomes 16.3
Small Apt. Buildings 2.2
Apt. Complexes 2.4
Mobile Homes 0.0
Other 0.0

Home Size

No Bedroom 0.00
1 Bedroom 0.90
2 Bedrooms 16.19
3 Bedrooms 34.77
4 Bedrooms 38.86
5 or more bedrooms 9.28

Frankfort Appreciation Rates

Time Period Total Appreciation Avg. Annual Rate Compared To
Compared To
Latest Quarter:
2016 Q2 - 2016 Q3
Last 12 Months:
2015 Q4 - 2016 Q3
Last 2 Years:
2014 Q4 - 2016 Q3
Last 5 Years:
2011 Q4 - 2016 Q3
Last 10 Years:
2006 Q4 - 2016 Q3
Since 2000:
2000 Q1 - 2016 Q3
21.31% 1.14% 4 2
* 10 is highest