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Featured local agent — Frankfort, IL
Sarah Mitchell
Compass Real Estate · Frankfort, IL
“Your trusted relocation specialist since 2009. 350+ homes sold. Zero-pressure, data-first approach.”
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Frankfort, IL Housing Market & Real Estate
Housing market overview · Updated monthly ·
$623,500median sale price
How is the Frankfort, IL housing market right now?
The median home sale price in Frankfort, IL is $623,500, up 9.4% year-over-year. Homes sell in an average of 57 days with 78 active listings. The market is currently a balanced market. (Source: Redfin monthly MLS data, as of May 2026 — the most recent Redfin release; Redfin publishes each month's data on a ~6-week lag.)
Is Frankfort a buyer's or seller's market?
Frankfort, IL is currently a balanced market, based on 2.9 months of supply and homes selling in about 57 days. How we determine this →
Homes sold
27
Last 12 weeks
Days on market
57
Average pace
Active listings
78
2.9 months supply
Sale-to-list
99.0%
Below asking
What does the Frankfort housing market data show?
| Metric | Value |
|---|---|
| Median sale price | $623,500 |
| Median list price | $707,250 |
| Year-over-year price change | +9.4% |
| Average days on market | 57 days |
| Active inventory | 78 listings |
| Months of supply | 2.9 months |
| Sale-to-list price ratio | 99.0% |
| Median price per sq ft | $194/sq ft |
| Homes sold (latest month) | 27 |
| New listings (latest month) | 35 |
| Listings with a price cut | 21.8% |
| Market condition | Balanced market |
Source: Redfin · Updated monthly
How much do homes cost in Frankfort by property type?
How the Frankfort, IL market breaks down across single-family homes, condos, and townhouses.
| Property type | Median price | Price / sq ft | Homes sold | Days on market |
|---|---|---|---|---|
| Single-family | $665,000 | $204/sq ft | 24 | 50 days |
| Condo / Co-op | $297,500 | $203/sq ft | 2 | 88 days |
| Townhouse | $480,000 | $159/sq ft | 3 | 65 days |
Source: Redfin · Updated monthly
The Frankfort housing market is currently classified as a balanced market with a median sale price of $623,500. Prices have risen 9.4% compared to last year, with homes spending an average of 57 days on market, indicating 2.9 months of inventory.With limited inventory, homes sell quickly and buyers should be prepared to act decisively and competitively to secure a property.The price-to-income ratio of 3.2x provides context for how home values compare to local earning capacity.
Market trends
Homes for sale in Frankfort
There are currently 78 homes listed for sale in Frankfort, Illinois. The median listing price is $707K.
Active listings
78
Homes on market
Median list price
$707K
Avg. days on market
57
Days until sale
New this week
35
Newly listed
Who lives in Frankfort?
Population
20,417
Median income
$153,714/yr
Median age
41.8 years
Owner-occupied
94.7%
College grads
59.2%
Avg commute
33.1 min
Source: U.S. Census Bureau ACS
What are homes worth in Frankfort?
Zillow home value
$498,139
Price-to-income
3.2x
Source: Zillow Research
What is it like to live in Frankfort?
Frankfort is a community of approximately 20K residents with a median age of 41.8 years.The median household income is $153,714, which reflects a relatively affluent area with strong earning potential. 59.2% of residents hold a bachelor's degree or higher, indicating a highly educated population.
Homeownership rates are at 94.7%, reflecting strong community stability and long-term resident commitment. The average commute time is 33.1 minutes, which suggests a more suburban or rural location for those willing to commute longer distances.Overall, Frankfort offers a balanced lifestyle with accessible home values relative to local income levels.
Which public schools serve Frankfort?
11 schools tracked · 7,257 students
The largest public schools serving Frankfort, IL by enrollment, drawn from the National Center for Education Statistics. School quality is a commonly cited factor in home-buying decisions — these are the campuses families in this area are most likely to encounter.
Lincoln-Way East High School
Grades 9-12 · 2,728 students
Hickory Creek Middle School
Grades 6-8 · 951 students
Chelsea Elem School
Grades 3-5 · 889 students
Grand Prairie Elementary School
Grades PK-2 · 835 students
Dr Julian Rogus School
Grades PK-4 · 607 students
Summit Hill Junior High School
Grades 7-8 · 606 students
Indian Trail Elem School
Grades 1-4 · 309 students
Frankfort Square Elem School
Grades 1-4 · 175 students
Source: National Center for Education Statistics, Common Core of Data directory. Updated annually. Ratings and test scores are not currently displayed.
Which cities are near Frankfort, IL?
Want a head-to-head view? Compare Frankfort side-by-side with any other U.S. city using our market-comparison tool.
Frequently asked questions
What is the average home price in Frankfort?
The median home sale price in Frankfort is $623,500, up 9.4% from last year.
How long do homes stay on market in Frankfort?
Homes typically spend 57 days on market before going under contract.
What is the median income in Frankfort?
The median household income is $153,714 per year.
Is Frankfort a buyer's or seller's market?
With 2.9 months of supply, Frankfort is currently a balanced market.
What is the Zillow home value estimate for Frankfort?
The Zillow Home Value Index (ZHVI) for Frankfort is $498,139, representing the typical home value in the area.
What is the median condo price in Frankfort?
The median condo/co-op sale price in Frankfort, IL is $297,500, compared to $665,000 for a single-family home, based on the latest Redfin data.
How much does a single-family home cost in Frankfort?
The median single-family home price in Frankfort, IL is $665,000 (about $204 per square foot).
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