HomeIllinoisWill CountyFrankfort
Frankfort, Illinois: commercial real estate data.
Frankfort is a Census village of 20,651 people across 15.62 square miles of land, in Will County. Median household income is $154,375, 94.8 percent of occupied homes are owned, and the SBA record carries 66 7(a) approvals to borrowers here worth $27.6 m since FY2020.
Underlined figures are computed by MMCG Analytics, not published by the agency.
Frankfort
What Frankfort is
- Census place typevillage
- Land area15.62 sq mi
- Water area0 sq mi
- Population per square mile of land1,322
- County holding the largest share of its areaWill County, 98.6 percent
US Census Bureau, cartographic boundary file, places, 2024 vintage. US Census Bureau, American Community Survey 5-Year Estimates, place level, 2020-2024 5-year.
Frankfort
How many people live in Frankfort
- Population20,651
- Median age42.2
- Population under 185,878
- Share under 1828.5 percent
- Population 65 and over3,453
- Share 65 and over16.7 percent
- Households6,789
- Family households5,638
- Share of households that are families83.0 percent
US Census Bureau, American Community Survey 5-Year Estimates, place level, 2020-2024 5-year.
Frankfort
Income and work in Frankfort
- Median household income$154,375
- Per capita income$62,793
- Civilian labor force10,037
- Employed9,628
- Unemployed409 plus or minus 176
- Unemployment rate4.1 percent plus or minus 1.7
- Adults 25 and over13,291
- Adults 25 and over with a high school diploma or higher97.9 percent
- Adults 25 and over with a bachelor degree or higher59.3 percent
- Adults 25 and over with a graduate degree28.3 percent
US Census Bureau, American Community Survey 5-Year Estimates, place level, 2020-2024 5-year.
Frankfort
Housing in Frankfort
- Housing units7,043
- Occupied units6,789
- Vacant units254 plus or minus 139
- Vacancy rate3.6 percent plus or minus 2.0
- Owner occupied6,433
- Renter occupied356 plus or minus 163
- Ownership rate94.8 percent
- Median owner-occupied home value$481,200
- Median gross rent, monthly$2,442 plus or minus $882
- Annual rent as a share of median income19.0 percent plus or minus 7.0
- Single family units6,641
- Share single family94.3 percent
- Units in buildings of two or more394 plus or minus 153
- Share in buildings of two or more5.6 percent plus or minus 2.2
- Mobile homes8 plus or minus 15
- Median year structure built1999
US Census Bureau, American Community Survey 5-Year Estimates, place level, 2020-2024 5-year.
Frankfort
How Frankfort gets to work
- Workers 16 and over who commute7,101
- Commuting under 15 minutes1,064 plus or minus 231
- Share commuting under 15 minutes15.0 percent plus or minus 3.0
- Commuting 30 minutes or more3,936
- Share commuting 30 minutes or more55.4 percent
- Drove alone69.1 percent
- Carpooled3.0 percent plus or minus 1.7
- Public transport3.6 percent plus or minus 1.4
- Walked0.0 percent
- Worked from home23.6 percent plus or minus 5.1
US Census Bureau, American Community Survey 5-Year Estimates, place level, 2020-2024 5-year.
Frankfort
SBA loans in Frankfort (7(a))
- Approvals66
- Gross approval$27,582,400
- Average approval$417,915
- Median approval$150,000
- Ninetieth percentile approval$890,750
- Largest approval$4,675,000
- Jobs supported615
- Jobs per approval9.3
- Loans with a final outcome10
- Paid in full9
- Charged off1
- Median term120 months
- Share on real estate terms of 20 years or more10.6 percent
- Share to franchises18.2 percent
- Distinct lenders25
- Distinct industries by NAICS37
Counted by borrower city: approvals to borrowers whose address is in Frankfort, in any county, FY2020 to FY2026. Only 10 loans have reached a final outcome, fewer than the 30 a charge-off rate needs, so no rate is published.
US Small Business Administration, 7(a) FOIA release, FY2020 to FY2026 year to date, as of 2026-06-30.
Frankfort
SBA loans in Frankfort (504)
- Approvals29
- Gross approval$16,495,000
- Average approval$568,793
- Median approval$434,000
- Largest approval$2,007,000
- Jobs supported212
- Loans with a final outcome11
- Charged off1
- Median term240 months
- Distinct CDCs3
Counted by borrower city: approvals to borrowers whose address is in Frankfort, in any county, FY2010 to FY2026. Only 11 loans have reached a final outcome, fewer than the 30 a charge-off rate needs, so no rate is published.
US Small Business Administration, 504 FOIA release, FY2010 to FY2026 year to date, as of 2026-06-30.
Frankfort
Flood risk in Frankfort
- NFIP communityVillage of Frankfort
- NFIP community number170701
- Participating in the NFIPYes
- Community Rating System classNone
- Currently effective map date02/15/19
The Village of Frankfort participates in the National Flood Insurance Program as community 170701 and carries no Community Rating System class, so no CRS premium discount applies to it.
Federal Emergency Management Agency, NFIP Community Status Book (OpenFEMA), as of 2026-09-26.
Will County, not Frankfort
Will County context, not Frankfort figures
- Establishments in Will County17,085
- Covered employment, Will County263,673
- Average annual pay, Will County$60,570
- Housing units permitted, Will County2,002
Every figure in this section is published for Will County as a whole and is not a measurement of Frankfort.
US Census Bureau, County Business Patterns, 2023. US Bureau of Labor Statistics, Quarterly Census of Employment and Wages, 2024 annual averages. US Census Bureau, Building Permits Survey, 2024 annual.
Coverage
What this page does not hold.
Parcel detail, zoning and the flood zone at an address are not on this page; they resolve at the address in the platform. How this page was built →
Common questions
Frankfort questions, answered from the record.
How many people live in Frankfort, Illinois?
20,651, in 6,789 households. Frankfort village covers 15.62 square miles of land, which is 1,322 people per square mile. Source: US Census Bureau, American Community Survey 5-Year Estimates, place level, 2020-2024 5-year.
What county is Frankfort in?
Will County, which holds 98.6 percent of the place by area. Source: US Census Bureau, cartographic boundary file, places, 2024 vintage.
What is the median household income in Frankfort?
$154,375. The median owner-occupied home is valued at $481,200. Median gross rent is $2,442 per month. Source: US Census Bureau, American Community Survey 5-Year Estimates, place level, 2020-2024 5-year.
How much SBA lending goes to Frankfort businesses?
66 7(a) approvals totaling $27.6 m since FY2020, across 25 lenders, median approval $150,000, plus 29 504 approvals worth $16.5 m since FY2010. These count approvals to borrowers whose address is in Frankfort, not projects sited inside the place boundary, and they are approvals recorded in the release rather than loans disbursed.
Do SBA loans to Frankfort borrowers get paid back?
No rate is published for Frankfort. Only 10 loans have reached a final outcome, fewer than the 30 a charge-off rate needs, so no rate is published. The counts are shown instead.
Is Frankfort in the National Flood Insurance Program?
Yes. Frankfort appears in the FEMA Community Status Book as Frankfort, village of, community 170701, with no Community Rating System class, so no CRS discount applies. Whether a specific parcel sits in a mapped special flood hazard area is an address level question the platform answers.
Are the county figures on this page Frankfort figures?
No, and they are labeled so. County Business Patterns, QCEW, the Building Permits Survey, BEA product and IRS migration are published for Will County as a whole and there is no place level equivalent. They appear in one clearly marked section as context and are never presented as measurements of Frankfort.
Is zoning published for Frankfort?
No. Nothing on this page presents parcel level zoning.