Frankfort, IL


Highest Appreciating Frankfort Neighborhoods Since 2000

Frankfort, IL Real Estate Data

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q1 2017. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2015 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

Frankfort Housing Market Information

With a population of 18,653, 5,878 total housing units (homes and apartments), and a median house value of $372,734, 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.

Frankfort is a village of large, single-family homes. In fact, there is a higher proportion of four, five or more bedroom homes in Frankfort than is found in 98% of the communities in America.

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 94.05% of Frankfort's homes, and 72.50% 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 ( 44.21%). A lesser amount of the housing stock also hails from between 1940-1969 ( 6.74%). There's also some housing in Frankfort built before 1939 ( 2.86%).

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.

NeighborhoodScout's data show that during the latest twelve months, Frankfort's appreciation rate, at 4.88%, has been at or slightly above the national average. In the latest quarter, Frankfort's appreciation rate has been 0.43%, which annualizes to a rate of 1.74%.

Relative to Illinois, our data show that Frankfort's latest annual appreciation rate is higher 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
> $1,105,000 0.8
$829,001 - $1,105,000 1.0
$552,001 - $829,000 9.3
$442,001 - $552,000 18.6
$331,001 - $442,000 27.8
$221,001 - $331,000 27.4
$111,001 - $221,000 8.8
$55,001 - $111,000 4.1
$0 - $55,000 2.3

Very High for IL
Very High for Nation

Value Relative to Nation Value Relative to State
10.7640923473573 6.70886075949367

Number Of Homes And Apartments:

Frankfort Appreciation Rates

Time Period Total Appreciation Avg. Annual Rate Compared To
Compared To
Latest Quarter:
2016 Q4 - 2017 Q1
Last 12 Months:
2016 Q1 - 2017 Q1
Last 2 Years:
2015 Q1 - 2017 Q1
Last 5 Years:
2012 Q1 - 2017 Q1
Last 10 Years:
2007 Q1 - 2017 Q1
Since 2000:
2000 Q1 - 2017 Q1
22.94% 1.20% 5 2
* 10 is highest

Rent & Ownership


Average Market Rent:
$1,819 / per month

Homeownership Rate

Owners 94.05
Renters 5.95
Vacant 5.92

Housing Market Details


Age of Homes

AGE OF Frankfort HOMES
2000 or Newer 44.2
1970 - 1999 46.2
1940 - 1969 6.7
1939 or Older 2.9

Types of Homes

Single-Family 79.0
Townhomes 16.6
Small Apt. Buildings 2.4
Apt. Complexes 2.0
Mobile Homes 0.0
Other 0.0

Home Size

No Bedroom 0.00
1 Bedroom 1.57
2 Bedrooms 14.72
3 Bedrooms 33.40
4 Bedrooms 39.10
5 or more bedrooms 11.20