Frankfort, Illinois Demographics & Population 2026
During the 2020–2024 ACS period, Frankfort, Illinois had a total population of 20,651, the 119th largest village in Illinois, with a median household income of $154,375, which is 85% higher than the state average. The poverty rate is 3.2%.
Data vintage: U.S. Census Bureau ACS 2020–2024 5-Year Estimates · refreshed July 2026 · Methodology & source notes
Key Takeaways
- Household income is 85% above the state average — one of the wealthiest communities in Illinois.
- An exceptionally low poverty rate of 3.2% — among the lowest in Illinois.
- 59.3% of adults hold a bachelor's degree or higher — top 10% in Illinois.
Frankfort Quick Facts
How Frankfort Changed
Change from the 2019–2023 ACS period to 2020–2024. These are rolling five-year estimates, not year-over-year measurements.
| Metric | 2019–2023 | 2020–2024 | Change |
|---|---|---|---|
| Population | 20,417 | 20,651 | +1.1% |
| Median household income | $153,714 | $154,375 | +0.4% |
| Median home value | $461,600 | $481,200 | +4.2% |
How Frankfort Compares
Median Household Income
Median Home Value
Economy & Housing
Household Income Distribution
Detailed income brackets
Employment
Housing Overview
People & Demographics
Age Distribution
Race & Ethnicity
Diversity Index
Moderate diversity with one or two groups making up the majority.
State average: 61 | National average: 61
Education
Educational Attainment (Adults 25+)
Frankfort Rankings in Illinois
Explore Illinois Rankings
Other Cities in Cook County
| City | Population | Median Income | Poverty | Home Value |
|---|---|---|---|---|
| Chicago | 2,711,226 | $77,902 | 16.8% | $334,100 |
| Elgin | 114,934 | $90,282 | 9.8% | $273,000 |
| Cicero | 82,797 | $70,842 | 14.6% | $249,400 |
| Schaumburg | 76,868 | $97,514 | 5.7% | $330,400 |
| Evanston | 76,340 | $96,434 | 11.8% | $481,200 |
| Arlington Heights | 76,005 | $116,723 | 6.0% | $414,500 |
| Palatine | 66,293 | $97,819 | 8.2% | $355,600 |
| Skokie | 66,219 | $95,337 | 9.7% | $387,200 |
| Des Plaines | 59,156 | $97,875 | 6.0% | $335,600 |
| Orland Park | 57,916 | $98,910 | 7.3% | $367,200 |
Cities Similar to Frankfort
These cities in the same state have comparable population and economic profiles.
| City | Population | Median Income | Home Value | Bachelor's+ | Poverty |
|---|---|---|---|---|---|
| Libertyville | 20,525 | $165,667 | $512,000 | 71.0% | 4.2% |
| Geneva | 21,258 | $144,341 | $441,400 | 63.8% | 3.8% |
| Lake Zurich | 19,832 | $135,968 | $435,300 | 60.7% | 3.4% |
| Deerfield | 19,518 | $181,660 | $623,400 | 82.1% | 2.8% |
| Mokena | 20,021 | $123,889 | $401,400 | 42.5% | 4.5% |
Population Overview
Frankfort is a small city located in Illinois, within Cook County. The total population is 20,651. It ranks as the 119th most populous out of 1,445 Census-designated places in Illinois.
Age Demographics
The median age in Frankfort is 42.2 years. This is 8% higher than the state median of 39.0 years. With 28.5% of the population under 18, Frankfort has a notably young demographic profile, suggesting a family-oriented community.
Economy, Income & Housing
The median household income in Frankfort is $154,375. This is 85% higher than the state median of $83,390. It is also 91% higher than the national median of $80,734. The poverty rate stands at 3.2%. This is 73% lower than the state poverty rate of 11.8%. This exceptionally low poverty rate indicates strong economic prosperity across the community. The unemployment rate is 4.1%. This is 30% lower than the state rate of 5.8%. The median home value is $481,200. Housing costs are 83% higher than the state median of $263,300. The home-value-to-income ratio is 3.1x. 94.8% of occupied housing units are owner-occupied. This homeownership rate is 41% higher than the state average of 67.1%.
Race & Ethnicity
The largest racial or ethnic group in Frankfort is White (non-Hispanic), making up 75.1% of the population. Black or African American residents account for 10.2%. The Hispanic or Latino population (7.0%) is well below the state average of 18.8%. The Asian population (2.6%) is well below the state average of 5.9%.
Education
59.3% of residents aged 25 and older hold a bachelor's degree or higher. This places Frankfort in the top 10% of all cities in the state for educational attainment. This is 57% higher than the state rate of 37.9%. Nationally, 35.7% of adults hold at least a bachelor's degree. The high school graduation rate (or equivalent) is 97.9%. Notably, 28.3% of adults hold a graduate or professional degree, indicating a highly educated workforce.
Data Sources & Methodology
All demographic data for Frankfort, Illinois is sourced from the U.S. Census Bureau's American Community Survey (ACS) 2020–2024 5-Year Estimates. The ACS collects data from approximately 3.5 million households annually and pools five years of responses so that even small communities can be measured, though the margin of error widens as the population falls. 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. Read more about how these figures are produced on our methodology page, or visit data.census.gov for official data.
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Frequently Asked Questions
What is the population of Frankfort, Illinois?
Frankfort, Illinois has a population of 20,651 according to the most recent U.S. Census ACS 5-Year Estimates.
What is the median household income in Frankfort, IL?
The median household income in Frankfort is $154,375, which is 91% higher than the national median of $80,734.
What is the poverty rate in Frankfort, IL?
The poverty rate in Frankfort is 3.2%. This means approximately 661 residents live below the federal poverty line.
What is the racial makeup of Frankfort, Illinois?
Frankfort's population is 75.1% White, 10.2% Black, 7.0% Hispanic/Latino, and 2.6% Asian.
What is the median home value in Frankfort, IL?
The median home value in Frankfort is $481,200. The home-value-to-income ratio is 3.1x.
How educated is Frankfort, Illinois?
59.3% of adults (25+) in Frankfort hold a bachelor's degree or higher, and 28.3% hold a graduate or professional degree.