HomeIllinoisWill CountyFrankfort village
Frankfort village, Illinois: commercial real estate data.
Frankfort village 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.
82 sourced place values · tier FULL · 9 sections
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 7(a) lending to Frankfort borrowers
- Approvals66
- Gross approval$27,582,400
- Average approval$417,915
- Median approval$150,000
- Ninetieth percentile approval$906,500
- Largest approval$4,675,000
- Jobs supported615
- Jobs per approval9.3
- Loans with a final outcome10
- Paid in full9
- Charged off1
- Charge-off rate over resolved loans10.0 percent
- 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
US Small Business Administration, 7(a) FOIA release, FY2020 to FY2026 year to date, as of 2026-06-30.
Frankfort
SBA 504 lending to Frankfort borrowers
- 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
- Charge-off rate over resolved loans9.1 percent
- Median term240 months
- Distinct CDCs3
US Small Business Administration, 504 FOIA release, FY2010 to FY2026 year to date, as of 2026-06-30.
Frankfort
Flood programme status in Frankfort
- Listed NFIP communities1
- Of those, participating1
- NFIP community number170701
- Currently effective map date02/15/19
This community carries no Community Rating System class, so no CRS premium discount applies to it.
FEMA, National Flood Insurance Program Community Status Book, Community Status Book, as retrieved.
Will County, not Frankfort
Will County context, not Frankfort figures
These are Will County figures. There is no place level equivalent published for any of them, so they are shown as the county backdrop and never as Frankfort measurements.
- Establishments in Will County17,085
- Employment at those establishments, Will County267,545
- Covered employment, Will County263,673
- Average annual pay, Will County$60,570
- Average weekly wage, Will County$1,165
- Housing units permitted, Will County2,002
- Of those, single family, Will County1,464
- County product, 2024, Will County$50,332,938,000
- County product change over the prior year, Will County3.9 percent
- Average income of an arriving household, Will County$80,186
Every figure in this section is published for Will County as a whole and is not a measurement of Frankfort. It is here because a county backdrop is what a credit committee reads a place against, and it is labelled so that it can never be quoted as the place's own.
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. US Bureau of Economic Analysis, Regional, table CAGDP2, CAGDP2, through 2024. US Internal Revenue Service, Statistics of Income county migration flows, 2021 to 2022 filing years.
Coverage
What this page does not hold.
Every item below could be filled with a plausible figure. None of them is. On a page a lender may read, a number that cannot be traced is worse than an absence, so the absences are named.
- Parcel level detail, zoning and flood zone at an address are resolved in the platform, not on this page.
SBA figures count approvals to borrowers whose address is in the place. They are not approvals for projects inside the place boundary: the tape records a borrower city and a project county, and those can differ.
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 totalling $27.6 m, across 25 lenders, median approval $150,000, plus 29 504 approvals worth $16.5 m. 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?
Of the 10 loans that have reached a final outcome, 9 were paid in full and 1 charged off, a charge off rate of 10.0 percent. Loans still running are excluded because they have not yet succeeded or failed.
Is Frankfort in the National Flood Insurance Program?
Yes. Frankfort appears in the FEMA Community Status Book as 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 labelled 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?
Not yet. The zoning layer is in build. Nothing on this page presents parcel level zoning.