salaryRent is lower than in 74% of U.S. cities. A typical house costs about 3.5 years of household income. Most homes (75.1%) are owned, so rentals can be hard to find.
How much money do I need?
To rent here comfortably, you should earn about $49,040 a year. That is $24 an hour at a full-time job.
Is rent cheaper than other Illinois cities?
Yes. Rent here is cheaper than in most of Illinois. It is number 97 of 334 cities from cheapest to most expensive.
How much do households earn in Franklin Park?
Share of households by yearly income. 26.7% of households earn $100,000 or more.
Rent by apartment size in Franklin Park
| Size | Franklin Park | U.S. average |
|---|---|---|
| Studio | $815 | $1,338 |
| 1 bedroom | $1,051 | $1,324 |
| 2 bedrooms | $1,319 | $1,509 |
| 3 bedrooms | $1,779 | $1,698 |
| 4 bedrooms | $2,304 | $2,098 |
Median monthly rent plus utilities for all renters, by number of bedrooms.
How expensive is Franklin Park overall?
Everyday prices in Illinois overall are same as the U.S. average (index 100.0, U.S. = 100).
Source: U.S. Bureau of Economic Analysis, Regional Price Parities 2024. City-level data is not published for Franklin Park, so the Illinois figure is shown.
Taxes and bills in Franklin Park
Life in Franklin Park
Is it cheaper to rent or buy in Franklin Park?
Renting is cheaper right now: about $765 a month less.
Owning assumes a typical $287,000 home, 10% down, a 30-year loan at 6.5% and about 1.5% a year for taxes and insurance. You would also need $28,700 for the down payment.
Frequently asked questions
What is the average rent in Franklin Park, IL?
Renting in Franklin Park costs a median of about $1,226 a month in 2026, including utilities. The Illinois median is $1,517.
How much do I need to make to live in Franklin Park?
To keep rent under 30% of income, you need about $49,040 a year, or $24 an hour at a full-time job.
Is Franklin Park cheap or expensive?
Franklin Park is rated Cheap: rent takes 17.8% of the typical household income of $82,526. It ranks 97th cheapest of 334 Illinois cities we track.
How much are property taxes in Franklin Park?
The median homeowner in Franklin Park pays $6,561 a year in property taxes, about 2.29% of the median home value.
Is Franklin Park 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 Franklin Park?
The median home value in Franklin Park is $287,000, about 3.5 times the typical yearly household income.
18,197 people live in Franklin Park. Numbers are typical (middle) values.