Living in Franklin Park, Illinois
Cost of living, income, home prices, rent and demographics of Franklin Park · Census data 2020–2024
Franklin Park has 18,197 residents with a median age of 38.3. The median household income is $76,519 (8% lower than the Illinois median), the median home value is $287,000, the median rent is $1,109/month.
Franklin Park at a glance
- Population
- 18,197
- Median age
- 38.3State: 39
- Median household income
- $76,519State: $83,390
- Median home value
- $287,000State: $263,300
- Median rent
- $1,109/moState: $1,274
- Homeowners
- 75.1%
- Bachelor's degree or higher
- 19.7%
- Average commute
- 29 min
Is Franklin Park a good place to live?
Pros: A poverty rate of 9.4%.
Cons: Median household income 8% lower than the Illinois median; home values 9% higher than the state median; an average commute of 29 minutes; unemployment of 6.1%.
The weather is best in June to September.
Cost of living in Franklin Park
Housing is the biggest part of the cost of living. In Franklin Park the median home value is $287,000, 14% lower than the U.S. median. Renters pay a median of $1,109 per month, which is 28.1% of household income. Homeowners with a mortgage pay $2,073 a month in housing costs.
Franklin Park median household income
The median household income in Franklin Park is $76,519 and the income per person is $31,284. 9.4% of residents live below the poverty line (Illinois: 11.8%).
Housing in Franklin Park: homes for sale and rent
- Housing units
- 6,201
- Owner-occupied
- 75.1%
- Renter-occupied
- 24.9%
- Vacant
- 3.1%Includes seasonal homes
- Median year built
- 1957
- Average household size
- 3.03
Franklin Park demographics
- Population
- 18,197
- Median age
- 38.3
- Under 18
- 23.9%
- 65 and older
- 11.6%
- Households
- 6,007
- Foreign-born
- 34.2%
- Veterans
- 1.7%Adults 18+
Hispanic or Latino can be of any race. Population history of Franklin Park ›
Education in Franklin Park
19.7% of adults 25 and older in Franklin Park have a bachelor's degree or higher (Illinois: 37.8%), and 4.6% have a graduate or professional degree.
Jobs and commute in Franklin Park
- Unemployment rate
- 6.1%State: 5.8%
- Average commute
- 29 minState: 28 min
- Work from home
- 7.4%
- Drive alone
- 75.1%
- Public transit
- 1.6%
- Walk to work
- 3.4%
- Homes with broadband
- 91.2%
Franklin Park vs nearby towns
| Town | Population | Median income | Home value | Rent |
|---|---|---|---|---|
| Franklin Park | 18,197 | $76,519 | $287,000 | $1,109 |
| Schiller Park | 11,393 | $69,696 | $275,000 | $1,221 |
| Northlake | 12,513 | $83,892 | $259,800 | $1,123 |
| Stone Park | 4,482 | $67,224 | $242,100 | $1,412 |
| River Grove | 10,451 | $69,858 | $241,800 | $1,214 |
| Melrose Park | 24,549 | $66,189 | $275,800 | $1,176 |
| Elmwood Park | 23,868 | $91,955 | $339,300 | $1,334 |
| Norridge | 15,439 | $87,807 | $374,900 | $1,433 |
| Berkeley | 5,199 | $85,823 | $246,900 | $1,434 |
More for people moving to Franklin Park
Franklin Park ZIP code ›Weather and climate ›Living in Franklin Park: FAQ
What is the median household income in Franklin Park, IL?
The median household income in Franklin Park is $76,519, 8% lower than the Illinois median of $83,390 (U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024).
What is the average home price in Franklin Park?
The median home value in Franklin Park is $287,000, compared with $263,300 in Illinois.
How much is rent in Franklin Park?
The median gross rent in Franklin Park is $1,109 per month, about 28.1% of household income.
Is Franklin Park, IL a good place to live?
Pluses: a poverty rate of 9.4%. Minuses: median household income 8% lower than the Illinois median; home values 9% higher than the state median; an average commute of 29 minutes; unemployment of 6.1%.
What is the median age in Franklin Park?
The median age in Franklin Park is 38.3 years (Illinois: 39).
How long is the commute in Franklin Park?
The average commute to work in Franklin Park is 29 minutes; 7.4% of workers work from home.
What is the unemployment rate in Franklin Park?
The unemployment rate in Franklin Park is 6.1% (U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024).
How educated is Franklin Park?
19.7% of adults in Franklin Park have a bachelor's degree or higher.
Source: U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024 (margins of error apply, especially in small towns). Figures are in 2024 dollars.
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