Frankfort, IL Cost Of Living
Cost Of Living In Frankfort, IL Summary
Cost of living in Frankfort research summary. The cost of living index is set to 100 for the average place in the United States. A cost of living index above 100 means Frankfort is expensive. An index value below 100 means the city is a relatively cheap place to live.
On a city-by-city basis in Illinois, home prices and rent have the biggest impact on the cost of living. Here are the key takeaways based on Saturday Night Science:
The cost of living index in Frankfort is 126, with 100 being the average.
The cost of living index in Frankfort is 1.3x higher than the national average.
Frankfort ranks as the #303 cheapest in Illinois out of 338.
Frankfort ranks as the #5,091 cheapest out of 6,412 in the US.
The median home value in Frankfort is $389,500.
The median income in Frankfort is $145,645.
Table Of Contents
Frankfort's Overall Cost Of Living
Higher Than The National Average
What is the cost of living in Frankfort, IL?
According to the most recent data on the cost of living, Frankfort has an overall cost of living index of 126, which is 1.3x higher than the national index of 100.
Compared to Illinois, Frankfort has a cost of living index that's 1.4x higher than Illinois's index of 92.
The standard of living in Frankfort ranks as #303 most affordable out of the 338 places we measured in Illinois. By definition, that implies Frankfort ranks as the #35 most expensive place in the Prairie State.
For more reading on life in Frankfort, check out:
- Living In Frankfort
- Frankfort Crime Report
- Search Homes For Sale In Frankfort, IL
In Illinois
In America
Frankfort Cost Of Living Vs. Illinois
Six factors go into calculating the cost of living index in Frankfort. Here is how it fairs on each of the criteria:
The Services index in Frankfort is 95.
The Groceries index in Frankfort is 94.
The Health index in Frankfort is 111.
The Housing index in Frankfort is 190.
The Transportation index in Frankfort is 112.
The Utilities index in Frankfort is 90.
| Living Expense | Frankfort | Illinois | National Average | |
|---|---|---|---|---|
| Overall | 126 | 92 | 100 | |
| Services | 95 | 95 | 100 | |
| Groceries | 94 | 98 | 100 | |
| Health | 111 | 96 | 100 | |
| Housing | 190 | 81 | 100 | |
| Transportation | 112 | 105 | 100 | |
| Utilities | 90 | 90 | 100 | |
Frankfort, IL Housing Cost Breakdown
Housing swings affordability the most between places in Illinois, so we broke down housing costs into more detail. Home and income data comes from the most recent US Census ACS 2017-2021. The key points are:
The Median Home Value in Frankfort is $389,500.
The Median Rent in Frankfort is $1,863.
The Median Income in Frankfort is $145,645.
The Home Value To Income in Frankfort is 2.7x.
The Rent To Monthly Income in Frankfort is 0.15x.
| Statistic | Frankfort | Illinois | United States |
|---|---|---|---|
| Median Home Value | $389,500 | $212,600 | $244,900 |
| Median Rent | $1,863 | $1,097 | $1,163 |
| Median Income | $145,645 | $72,563 | $69,021 |
| Home Value To Income | 2.7x | 2.9x | 3.5x |
| Rent To Monthly Income | 0.15x | 0.18x | 0.2x |
Median Home Value
Median Rent
Median Income
Frankfort, IL Costs By Category
Detailed Frankfort Services Costs Vs. Illinois
Detailed Frankfort Groceries Costs Vs. Illinois
Detailed Frankfort Health Costs Vs. Illinois
Detailed Frankfort Transportation Costs Vs. Illinois
Detailed Frankfort Utilities Costs Vs. Illinois
Frankfort SnackAbility
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Cost Of Living In Cities Around Frankfort
The cost of living varies in the cities and towns around Frankfort. Here's a quick look at the cost of living in the most populous nearby places:
Orland Park, IL has a cost of living index of 112, 0.9x Frankfort.
Tinley Park, IL has a cost of living index of 105, 0.8x Frankfort.
Oak Forest, IL has a cost of living index of 99, 0.8x Frankfort.
| City | Population | Cost Of Living | Vs. Frankfort |
|---|---|---|---|
| Orland Park, IL | 58,622 | 112 | 0.9x |
| Tinley Park, IL | 55,988 | 105 | 0.8x |
| Oak Forest, IL | 27,445 | 99 | 0.8x |
| New Lenox, IL | 26,942 | 110 | 0.9x |
| Darien, IL | 22,087 | 111 | 0.9x |
| Mokena, IL | 19,897 | 110 | 0.9x |
| Matteson, IL | 19,047 | 99 | 0.8x |
| Lemont, IL | 17,535 | 118 | 0.9x |
| Country Club Hills, IL | 16,746 | 97 | 0.8x |
| Richton Park, IL | 12,867 | 95 | 0.8x |
