Skip to main content

EconPulse

Local economy signal dashboard

Saved
PLACEThriving

Frankfort, IL

Thriving overall. Population is the clearest support signal, while jobs needs the most attention. Housing reads as affordable for a median-income household.

Post on XLinkedIn
Overall score73out of 100
Compare
66
65
96
73
78

Population

20,651

Data freshness

Unknown

GDP / Output

+3.9% YoY

66

$50.3B

Output changed +3.9% in 2024.

Vintage date unknown

State growth4.3%
U.S. growth5.3%

Jobs

Unemployment rate

65

4.1%

Unemployment is 4.1% for Latest available.

Vintage date unknown

State avg5.1%
U.S. avg5.2%

Population

+7.7% 5-year

96

20,651

Population moved +7.7% over the latest ACS window.

Vintage date unknown

State population12,694,798
U.S. population334,922,499

Housing

Rent share of income

73

19.0%

Median rent consumes 19.0% of median household income: Affordable.

Vintage date unknown

State rent$1.3K
U.S. rent$1.4K
HUD_API_TOKEN missing; ACS median gross rent is used as the housing affordability fallback.

Federal Funds

$5.3K per resident

78

$3.7B

$3.7B in federal obligations flowed here in FY2025.

Vintage date unknown

State total$134.6B
U.S. total$5.3T

Population and output

Trend Snapshot

Reported share

Industry Breakdown

FY2025

Federal Money

Federal obligations

$3.7B

$5.3K per resident in reported federal flow.

Top agencies

Dollars
1. Social Security Administration$3.0B
2. Department of Veterans Affairs$256.0M
3. Department of Transportation$121.2M

Top recipients

Dollars
1. ILLINOIS DEPARTMENT OF TRANSPORTATION$121.1M
2. HOUSING AUTHORITY OF JOLIET$49.6M
3. ILLINOIS STATE BOARD OF EDUCATION$20.0M

Affordable

Housing Affordability

19.0%

of median income

1BR estimate$2,002
2BR estimate$2,637
Median income$154,375
Median home value$481,200

ACS context

Quick Facts

Population

20,651

Median age

42.2

Bachelor's degree+

59.3%

Poverty rate

3.2%

Labor force participation

64.3%

Prime rate

6.8%

CPI YoY

+3.2%

U.S. GDP YoY

+6.5%

Sources and warnings

Data Provenance

Census ACS 5-year

2024

BLS LAUS / CPS

Latest available

BEA regional CAGDP1

2024

USAspending

FY2025

FRED

2026-07-30

HUD Fair Market Rent

Latest available

Data notes
  • HUD_API_TOKEN missing; ACS median gross rent is used as the housing affordability fallback.

5-year compound growth

Historical Trends

Population CAGR

+1.5%

GDP CAGR

+7.1%

Federal flow

5 years

Population (5 years)
202019,166
202120,040
202220,260
202320,417
202420,651
GDP (5 years)
2020$35.7B
2021$40.9B
2022$45.4B
2023$48.4B
2024$50.3B

2-year linear forecast

Predictive Outlook

Population forecast

202420,651
202521,111 *
202621,446 *

R² = 85.8% · * projected

GDP forecast

2024$50.3B
2025$55.2B *
2026$58.9B *

R² = 96.7% · * projected

Linear regression over available historical data. Projections are estimates based on past trends and do not account for policy changes, economic shocks, or other external factors.

housing affordability breakdown

Cost of Living

Median household income$154,375/yr
Median rent$2,442/mo
Rent share of income19.0%
Est. mortgage (30yr, 6.5%)$29,199/yr
Mortgage share of income18.9%

Rent data from Census ACS 5-year. Mortgage estimate assumes 20% down, 6.5% APR, 30-year fixed.

employment snapshot

Job Market

Unemployment rate4.1%
State avg5.1%
U.S. avg5.2%
Labor force participation64.3%
Poverty rate3.2%

Data from BLS LAUS / CPS. Latest available.

valuation snapshot

Real Estate

Median home value$481,200
Median monthly rent$2,442
Price-to-rent ratio16.4x

Moderate price-to-rent ratio — buying and renting are roughly balanced in this market.

composite score

Investment Climate

Investment climateStrong
Composite score74/100
Economic growth66/100
Labor market65/100
Population momentum96/100
Overall stability73/100

Composite score weighs economic growth, labor market health, population momentum, and overall stability. Not financial advice.

Location Context

Frankfort village, Illinois

City/Town

Part of

Chicago-Naperville-Elgin, IL-IN

Nearby locations

Mokena, ILArbury Hills, ILFrankfort Square, ILMarley, ILNew Lenox, IL