Frankfort village, Illinois Demographics & Population 2026

Population Overview

Frankfort village is a small city located in Illinois. The total population is 20,417. It ranks as the 120th most populous out of 1,445 cities and towns in Illinois.

Age Demographics

The median age in Frankfort village is 41.8 years. This is 7% higher than the state median of 38.9 years. With 29.5% of the population under 18, Frankfort village has a notably young demographic profile, suggesting a family-oriented community.

Economy, Income & Housing

The median household income in Frankfort village is $153,714. This is 88% higher than the state median of $81,702. Compared to the national median of $78,538, household income here is 96% higher. The poverty rate stands at 4.4%. This is 62% lower than the state poverty rate of 11.7%. This exceptionally low poverty rate indicates strong economic prosperity across the community. The unemployment rate is 3.6%. This is 38% lower than the state rate of 5.8%. The median home value is $461,600. Housing costs are 84% higher than the state median of $250,500. The home-value-to-income ratio is 3.0x. 94.8% of occupied housing units are owner-occupied. This homeownership rate is 42% higher than the state average of 66.8%.

Race & Ethnicity

The largest racial or ethnic group in Frankfort village is White (non-Hispanic), making up 78.6% of the population. Black or African American residents account for 10.8%. The Hispanic or Latino population (5.5%) is well below the state average of 18.5%. The Asian population (2.6%) is well below the state average of 5.8%.

Education

59.2% of residents aged 25 and older hold a bachelor's degree or higher. This places Frankfort village in the top 10% of all cities in the state for educational attainment. This is 59% higher than the state rate of 37.2%. Nationally, 35.0% of adults hold at least a bachelor's degree. The high school graduation rate (or equivalent) is 98.3%. Notably, 25.0% of adults hold a graduate or professional degree, indicating a highly educated workforce.

Data Sources & Methodology

All demographic data for Frankfort village, Illinois is sourced from the U.S. Census Bureau's American Community Survey (ACS) 5-Year Estimates (2019-2023). The ACS collects data from approximately 3.5 million households annually, providing reliable estimates for communities of all sizes. Comparisons are made against Illinois state averages and national averages calculated from the same dataset. Rankings reflect the city's position among all 1,445 Census-designated places in Illinois. For official data, visit data.census.gov.