Cost of Living in Frankfort Square, IL

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B-
11%
Overall NAT. AVG.
2%
Groceries NAT. AVG.
34%
Housing NAT. AVG.
Date & Last Updated: These cost of living estimates reflect 2026 modeled data using U.S. Census housing inputs and AI-assisted city-level pricing models.
The cost of living index is based on a national average of 100. For example, if the cost of living score is 90, then the estimated cost of living is 10% lower than the national average. If the score is 110, then the estimated cost of living is 10% higher than average. The overall index is calculated using weighted estimates across major everyday expense categories, including housing (30%), groceries (16%), transportation (12%), healthcare (10%), utilities (8%), lifestyle and entertainment (8%), household expenses (8%), and education and childcare (8%). All values are AI-assisted city-level estimates designed for directional comparisons.
Index Frankfort Square Illinois National
Cost of living11198100
Groceries102100100
Health care100100100
Housing13495100
Transportation105101100
Utilities10299100
Lifestyle & Entertainment102100100
Household Items98100100
Education & Childcare94100100
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Homes For Sale In Frankfort Square, IL

property for sale

20455 S Grand Prairie Ln

Frankfort, IL
property for sale

7654 W Moorefield Dr

Frankfort, IL
property for sale

20053 S Rosewood Dr

Frankfort, IL
property for sale

7653 W North Ave

Frankfort, IL

Cost Of Living Quick Facts

  • The cost of living in Frankfort Square is 13% higher than the Illinois average
  • The cost of living in Frankfort Square is 11% higher than the national average
  • Frankfort Square housing is 34% higher than the national average
  • Illinois general sales tax is 22% higher than the national average
  • Illinois state income tax is 91% higher than the national average

Most Affordable Places to Live in and Around Frankfort Square

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Compare Frankfort Square, IL Cost of Living

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      The best places in Illinois

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      Salary Calculator

      This is how much you would need to earn in
      Price difference in compared to
      Cost of living index
      Groceries index
      Health care index
      Housing index
      Transportation index
      Utilities index
      Lifestyle index
      Household index
      Educare index

      Median Income & Debt-To-Income Ratio

      Median Income Per Year Per Month Max Budget (28% DTI) Max Budget (36% DTI)
      Owners$172,218$14,352$4,018$5,167
      Renters$134,973$11,248$3,149$4,050
      The percentage of monthly income spent on housing related expenses can help predict the affordability of housing in Frankfort Square, IL, as well as what the overall cost of living might be. Generally, a good rule to follow is that the debt-to-income (DTI) level you want to maintain is 28 percent or less of your income on your rent or mortgage payments and not more than 36 percent of income on all expenses and debts. In Frankfort Square, homeowners have a median income of $172,218. Using that number, a maximum of $4,018 per month should be allocated to housing expenses. For those who are renting instead of owning, the median income is $134,973, which means there is a maximum of $3,149 to be spent on the costs of renting a home or apartment.

      Illinois Sales Tax

      State General Sales Tax With Max Surtax
      Illinois 6.25% 10.25%

      Illinois Income Tax

      State Income Tax (Low) Income Tax (High)
      Illinois 4.95% 4.95%

      Nearby cities with low cost of living

      City Population Cost of Living Index National Avg.
      Ford Heights, IL2,8018316.6%
      Phoenix, IL1,4508514.6%
      Dixmoor, IL3,6638712.6%
      Harvey, IL24,9318713.2%
      Hometown, IL4,3508911.2%
      Frankfort Square, IL9,03711110.7%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Clinton, MO9,0378614.0%
      Palm Beach, FL9,038230130.3%
      New Albany, MS9,0398712.7%
      McFarland, WI9,04011010.1%
      Matawan, NJ9,03313231.7%
      Frankfort Square, IL9,03711110.7%
      Date & Last Updated: These cost of living estimates reflect 2026 modeled data using U.S. Census housing inputs and AI-assisted city-level pricing models.
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