Franklin Park, IL
Population 18,233 · Illinois
About Franklin Park, IL
Franklin Park is a mid-sized city located in Illinois with a population of 18,233 residents according to the latest US Census Bureau American Community Survey data. The median household income is $76,009 per year, which is 1% above the national median of $75,149. The median age of 37 years is close to the US median age of 38.9 years.
Housing Market Overview
The housing market in Franklin Park features a median home value of $261,700, which is 7% above the national median of $244,900. This positions Franklin Park in a moderately priced market relative to the rest of the country. Median monthly rent is $1,103, 5% below the national average of $1,163/month. Of the 6,182 total housing units, 75% are owner-occupied (4,432 units) and 25% are renter-occupied (1,468 units). The high homeownership rate suggests a stable, established residential community.
Economy & Employment
The local economy in Franklin Park shows an unemployment rate of 5.0%, which is near the national rate of 3.7%. The poverty rate stands at 13.6%, above the national average of 12.4%. Workers in Franklin Park have an average one-way commute time of 28.5 minutes.
Education & Demographics
18.7% of Franklin Park residents aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. The lower educational attainment rate may reflect the area's industry mix, with more employment in trades, manufacturing, or agricultural sectors. The community's demographic composition includes 45.6% White, 3.2% Hispanic or Latino, 5.9% Black or African American, and 6.5% Asian residents, with 31.6% of the population being foreign-born.
Cost of Living in Franklin Park, IL
Compared to national averages, Franklin Park has a median household income of $76,009 (1% above the national median of $75,149). Home values average $261,700, which is 7% above the national median. Monthly rent at $1,103 is 5% below the US average of $1,163. Within Illinois, Franklin Park's income is 1% above the state average of $75,072, and home values are 58% above the state median of $165,779.
Why Live in Franklin Park, IL?
Franklin Park offers a strong local economy with a median household income of $76,009, well above the national average, and rent that’s lower than the national average at $1,103/month.
Franklin Park has a population of 18,233 with a median age of 37 years. Compare Franklin Park with other cities to see how it stacks up, or explore all cities in Illinois.
Similar Cities Near Franklin Park
Cities in Illinois with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Sycamore | 18,243 | $80,837 | $254,200 | Compare |
| Shorewood | 18,218 | $122,648 | $324,600 | Compare |
| East St. Louis | 18,278 | $30,992 | $52,700 | Compare |
| Palos Hills | 18,139 | $83,969 | $259,200 | Compare |
| Bourbonnais | 18,109 | $81,017 | $242,600 | Compare |
| Bellwood | 18,373 | $76,990 | $219,600 | Compare |
| North Aurora | 18,375 | $111,781 | $323,900 | Compare |
| Bensenville | 18,576 | $78,298 | $259,300 | Compare |
Demographics
Racial & Ethnic Composition
Economy & Education
Housing
Other Cities in Illinois
Data source: US Census Bureau ACS 5-Year Estimates. Last updated: 2026-04-05.
Compare Franklin Park With Other Cities
Frequently Asked Questions about Franklin Park
What is the population of Franklin Park, IL?
The population of Franklin Park, IL is 18,233 according to the latest US Census Bureau American Community Survey estimates. This makes it a mid-sized city in Illinois.
What is the median household income in Franklin Park?
The median household income in Franklin Park, IL is $76,009 per year, which is 1% above the national median of $75,149.
What is the median home value in Franklin Park?
The median home value in Franklin Park, IL is $261,700, which is 7% above the national median of $244,900. The majority of housing units are owner-occupied.
What is the average rent in Franklin Park?
The median monthly rent in Franklin Park, IL is $1,103, which is 5% below the national average of $1,163/month.
What is the unemployment rate in Franklin Park?
The unemployment rate in Franklin Park, IL is 5.0%, compared to the national average of 3.7%. Job seekers may want to research the dominant industries in the area.
Is Franklin Park, IL a good place to live?
Franklin Park offers above-average incomes, a competitive housing market, and growing employment opportunities. With a population of 18,233 and a median age of 37, the city appeals to a broad range of residents.
How educated is Franklin Park, IL?
18.7% of residents in Franklin Park aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. The educational profile reflects the area's industry mix and employment landscape.
What is the cost of living in Franklin Park?
Key cost-of-living indicators for Franklin Park, IL: median home value is $261,700 (7% above national), median rent is $1,103/month, and median household income is $76,009. The home-value-to-income ratio is 3.4x, indicating relatively affordable housing relative to local incomes.
What is the poverty rate in Franklin Park?
The poverty rate in Franklin Park, IL is 13.6%, compared to the national average of 12.4%. Residents and prospective movers should be aware of the economic challenges facing parts of this community.
How diverse is Franklin Park, IL?
Franklin Park's population is 45.6% White, 3.2% Hispanic or Latino, 5.9% Black or African American, 6.5% Asian, and 0.6% two or more races. 31.6% of residents are foreign-born.