States › Illinois › Frankfort Square

Is Frankfort Square, IL expensive to live in?

CheapRent takes 16 cents of every $1 people earn here.
🏠 Rent per month (2026)$1,7942% higher than U.S. average
💵 Families earn per year (2026)$136,858about $11,405/month · 57% higher than U.S. average
🔑 House price$305,8008% lower than U.S. average

Rent is higher than in 57% of U.S. cities. Household incomes are higher than in 85% of U.S. cities. A typical house costs under 3 years of household income, which is easy by U.S. standards. Most homes (95.2%) are owned, so rentals can be hard to find.

How much money do I need?

To rent here comfortably, you should earn about $71,760 a year. That is $35 an hour at a full-time job.

Is rent cheaper than other Illinois cities?

No. Rent here is more expensive than in most of Illinois. It is number 231 of 334 cities from cheapest to most expensive.

Frankfort Square
$1,794
Rochelle
$983
Harvard
$1,213
LaSalle
$1,156
Sauk Village
$1,661
Steger
$1,284
Flossmoor
$2,393

How much do households earn in Frankfort Square?

Under $25k
4.7%
$25k–50k
10.1%
$50k–100k
32.4%
$100k–150k
33.3%
$150k+
17.9%

Share of households by yearly income. 51.2% of households earn $100,000 or more.

Rent by apartment size in Frankfort Square

SizeFrankfort SquareU.S. average
2 bedrooms$1,565$1,509
3 bedrooms$1,935$1,698

Median monthly rent plus utilities for all renters, by number of bedrooms.

How expensive is Frankfort Square overall?

Everyday prices in Illinois overall are same as the U.S. average (index 100.0, U.S. = 100).

Housing
94
Goods (food, clothes…)
104
Utilities
85
Other services
100
U.S. average
100

Source: U.S. Bureau of Economic Analysis, Regional Price Parities 2024. City-level data is not published for Frankfort Square, so the Illinois figure is shown.

Taxes and bills in Frankfort Square

🏛️ Property tax$6,827a year · 2.23% of home value · U.S. $3,119
⚡ Electric bill$141a month (typical) · U.S. $156

Life in Frankfort Square

Commute to work28 minU.S.: 26.4 min
College degree32.9%U.S.: 35.7%
Own their home95.2%U.S.: 65.2%
Below poverty line6.4%U.S.: 12.5%
Unemployment7.4%U.S.: 5.2%

Is it cheaper to rent or buy in Frankfort Square?

Renting is cheaper right now: about $328 a month less.

Renting
$1,794
Owning
$2,122

Owning assumes a typical $305,800 home, 10% down, a 30-year loan at 6.5% and about 1.5% a year for taxes and insurance. You would also need $30,580 for the down payment.

Frequently asked questions

What is the average rent in Frankfort Square, IL?

Renting in Frankfort Square costs a median of about $1,794 a month in 2026, including utilities. The Illinois median is $1,517.

How much do I need to make to live in Frankfort Square?

To keep rent under 30% of income, you need about $71,760 a year, or $35 an hour at a full-time job.

Is Frankfort Square cheap or expensive?

Frankfort Square is rated Cheap: rent takes 15.7% of the typical household income of $136,858. It ranks 231st cheapest of 334 Illinois cities we track.

How much are property taxes in Frankfort Square?

The median homeowner in Frankfort Square pays $6,827 a year in property taxes, about 2.23% of the median home value.

Is Frankfort Square more expensive than the national average?

Overall prices in Illinois are same as the U.S. average, according to the U.S. Bureau of Economic Analysis.

How much does a house cost in Frankfort Square?

The median home value in Frankfort Square is $305,800, about 2.2 times the typical yearly household income.

9,560 people live in Frankfort Square. Numbers are typical (middle) values.