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Illinois · Census place 27663

Franklin village, IL

Quick answer

Franklin village has 554 residents, ranking #908 of 1462 places in Illinois. Median household income is $66,250, the median home is worth $103,300 and median gross rent runs $915 a month.

Population
554Franklin village residents
Median household income
$66,250Past 12 months, inflation adjusted
Median home value
$103,300Owner-occupied units
Median gross rent
$915Rent plus utilities, monthly
Median age
36.3 yrsAll residents
Homeownership rate
68.8%Owner-occupied households

What the numbers mean in Franklin village

Housing cost measured against local earnings.

A household earning the Franklin village median would spend about 16.6% of gross income on the median rent. The 30% mark is the federal threshold for cost burden, so anything above it signals a stretched rental market. The median home costs 1.6× the median household income; nationally that ratio sits near 4.5×. Poverty affects 7.3% of residents and 68.8% of households own their home.

Source: US Census Bureau, ACS 2019-2023 5-year estimates · rates as published for 2019-2023 ACS 5-year

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