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Frankfort village, IL

ZIP 60423 — Housing & Real Estate

Source: U.S. Census Bureau ACS 2019–2023 5-Year Estimates. Page data updated 2026-08-02.

Upper Middle ClassLow Snow AreaRemote Work Hub

Home values, rent, tenure, and housing stock

Housing & Real Estate in ZIP Code 60423

Median Home Value
$376,500
Median Rent
$1,260
Affordability Snapshot
$104,000
Est. income to buy

Household income needed for a median home under a 20% down / 6.8% illustrative mortgage model (~$2,419/mo PITI).

11%
Rent-to-Income Ratio

Below the 30% threshold — generally affordable for median earners.

2.7x
Home Price-to-Income Ratio

Below 3x — relatively affordable housing market.

24.9 yrs
Price-to-Rent Ratio

Years to break even buying vs renting at median home value and rent.

To comfortably buy a median-priced home in ZIP 60423 in Frankfort village, IL, a household would need roughly $104,000 in annual income under a 20% down, 30-year loan at 6.8% (illustrative), keeping housing costs near 28% of income. Estimated monthly PITI is about $2,419. That sits below the local median household income ($137,651), suggesting the typical household income is closer to a workable buy-in level under these assumptions. Rates, taxes, insurance, and HOA fees vary — treat this as a planning estimate, not a lender quote.

Housing Tenure

Mostly owner-occupied, low vacancy — stable housing market.

Heating Fuel
Housing Metrics
Owner Occupied
93.6%+43% vs US avg
x
Vacancy Rate
4.3%-58% vs US avg
x
Broadband Access
94.2%+8% vs US avg
x
4+ Bedrooms
12.2%-18% vs US avg
x
Built Pre-1939
0.8%-93% vs US avg
x
Built Post-2014
1.0%-85% vs US avg
x
Rent Burden >30%
20.3%-59% vs US avg
x
Mortgage-Free
33.6%-12% vs US avg
x
$376,500
Home Value
$1,260
Rent
1993
Year Built
2009
Moved In

Residents have lived here since ~2009 on average

Housing Structure

Census ACS structure types (single-family, multi-unit, etc.).

  • 1-unit detached81.4%
  • 1-unit attached11.3%
  • 2-9 units3.8%
  • 10+ units1.4%
  • Mobile home & other2.1%

Housing & Real Estate key statistics

Housing statistics
Housing
Median home value$376,500
Median rent$1,260
Owner-occupied93.6%
Vacant4.3%
Price-to-income2.7x
Est. income to buy$104,000