Frankfort is a medium-sized village located in the state of Illinois. With a population of 20,907 people and five associated neighborhoods, Frankfort is the 121st largest community in Illinois. Frankfort has seen a significant amount of newer housing growth in recent years. Quite often, new home construction is the result of new residents moving in who are middle class or wealthier, attracted by jobs, a healthy local economy, or other amenities as they leave nearby or far away areas for greener pastures. This seems to be the case in Frankfort, where the median household income is $153,714.00.

Frankfort real estate is some of the most expensive in Illinois, although Frankfort house values don't compare to the most expensive real estate in the U.S.

Also of interest is that Frankfort has more people living here who work in computers and math than 95% of the places in the US.

One interesting thing about the economy is that relatively large numbers of people worked from their home: 19.44% of the workforce. While this number may seem small overall, as a fraction of the total workforce this is high compared to the rest of the county. These workers are often telecommuters who work in knowledge-based, white-collar professions. For example, Silicon Valley has large numbers of people who telecommute. Other at-home workers may be self-employed people who operate small businesses out of their homes.

Because of many things, Frankfort is a very good place for families to consider. With an enviable combination of good schools, low crime, college-educated neighbors who tend to support education because of their own experiences, and a high rate of home ownership in predominantly single-family properties, Frankfort really has some of the features that families look for when choosing a good community to raise children. Is Frankfort perfect? Of course not, and if you like frenetic nightlife, it will be far from your cup of tea. But overall this is a solid community, with many things to recommend it as a family-friendly place to live.

One downside of living in Frankfort, however, is that residents on average have to contend with a long commute, spending on average 33.65 minutes every day commuting to work. However, local public transit is widely used. For those who would prefer to avoid driving entirely and leave their car at home, it may be an option to use the transit instead.

Like elsewhere in America, most people in Frankfort use a private automobile to get to work. But notably, a substantial number of Frankfort‘s citizens do make use of public transit in their daily commute, primarily riding the train. This helps more people get to work with less air pollution, and require fewer highways to get them there.

If knowledge is power, Frankfort is a pretty powerful place. 59.19% of the adults in Frankfort have earned a 4-year college degree, masters degree, MD, law degree, or even PhD. Compare that to the national average of 21.84% for all cities and towns.

The per capita income in Frankfort in 2022 was $59,421, which is wealthy relative to Illinois and the nation. This equates to an annual income of $237,684 for a family of four.

Frankfort is a very ethnically-diverse village. The people who call Frankfort home describe themselves as belonging to a variety of racial and ethnic groups. The greatest number of Frankfort residents report their race to be White, followed by Black or African-American. Important ancestries of people in Frankfort include German, Irish, Polish, Italian, and English.

The most common language spoken in Frankfort is English. Other important languages spoken here include Spanish and Arabic.