In Franklin Park, a typical home is worth $287,000 and typical rent is $1,109 a month. Compared with all of Cook County, typical rent is 23% lower, the typical home value is 12% lower, and the share of households that own their home is 17 points higher.
Typical home value from Zillow, September 2021 to September 2026: from $245,055 to $323,357.
From Zillow (ZHVI), September 2026. The Census figures above are 5-year averages (2020–2024).
Franklin Park is in Cook County. The FHA loan limit ($541,287 for a one-unit home), the fair market rents and the help on this page are those of all of Cook County. See the county
What this place has that others do not, from public data, most unusual first.
1
75% of households in Franklin Park own their home, against 58% in Cook County.
2
The typical rent in Franklin Park is $1,109 a month, 23% less than in Cook County as a whole ($1,435).
3
Nearby, in River Grove, the typical home value is $241,800: 16% less than in Franklin Park ($287,000).
Sources: U.S. Census Bureau (Average 2020–2024).
The homes here
Housing in Franklin Park
What homes there are in Franklin Park, what they cost, how that changed and how people live, from Census figures (2020–2024).
What homes there are
U.S. Census Bureau, ACS 5-year, 2020–2024
Kind of home
Detached houseAttached houseBuilding of 2 to 4Apartments (5 or more)Mobile homeBoat, RV and otherUnreliable estimate
Franklin Park
Cook County
Illinois
United States
Kind of home: Franklin Park and its comparisons
Measure
Franklin Park
Cook County
Illinois
United States
Detached house
74%
40%
58%
61%
Attached house
Unreliable estimate
6%
6%
6%
Building of 2 to 4
7%
19%
12%
8%
Apartments (5 or more)
18%
35%
22%
19%
Mobile home
Unreliable estimate
1%
2%
6%
Boat, RV and other
Unreliable estimate
0%
0%
0%
In Franklin Park, 7 in 10 homes are single-family detached houses; in Cook County, 4.
Year built
Before 19601960–19791980–19992000–20092010 or laterUnreliable estimate
Franklin Park
Cook County
Illinois
United States
Year built: Franklin Park and its comparisons
Measure
Franklin Park
Cook County
Illinois
United States
Before 1960
62%
49%
38%
26%
1960–1979
29%
25%
26%
24%
1980–1999
5%
14%
20%
25%
2000–2009
Unreliable estimate
8%
11%
14%
2010 or later
Unreliable estimate
5%
6%
11%
Homes in Franklin Park are older: the typical year built is 1957; in Cook County, 1961.
What it costs here
U.S. Census Bureau, ACS 5-year, 2020–2024
Value of owner-occupied homes
Unreliable estimate
Under $100KUnreliable
$100K–$200K11%
$200K–$300K45%
$300K–$500K41%
$500K–$750KUnreliable
$750K–$1MUnreliable
$1M or moreUnreliable
Value of owner-occupied homes: Franklin Park and its comparisons
Measure
Franklin Park
Under $100K
Unreliable estimate
$100K–$200K
11%
$200K–$300K
45%
$300K–$500K
41%
$500K–$750K
Unreliable estimate
$750K–$1M
Unreliable
$1M or more
Unreliable estimate
Monthly rent with utilities
Unreliable estimate
Under $500Unreliable
$500–$99928%
$1,000–$1,49951%
$1,500–$1,999Unreliable
$2,000–$2,499Unreliable
$2,500–$2,999Unreliable
$3,000 or moreUnreliable
Monthly rent with utilities: Franklin Park and its comparisons
Measure
Franklin Park
Under $500
Unreliable estimate
$500–$999
28%
$1,000–$1,499
51%
$1,500–$1,999
Unreliable estimate
$2,000–$2,499
Unreliable estimate
$2,500–$2,999
Unreliable estimate
$3,000 or more
Unreliable
With a mortgage
$2,073 a month
Cook County: $2,270 a month
Without a mortgage
$927 a month
Cook County: $910 a month
Owners with a mortgage
61%
Cook County: 62%
In Franklin Park, 61% of owners have a mortgage, and their typical cost is $2,073 a month, against $2,270 in Cook County. Without one it drops to $927.
How it changed
U.S. Census Bureau, ACS 5-year, 2015–2019 and 2020–2024
Change since 2015–2019
Typical home value
Franklin Park+41%
Cook County+32%
Illinois+35%
United States+53%
Typical rent
Franklin Park+26%
Cook County+28%
Illinois+26%
United States+33%
Typical household income
Franklin Park+20%
Cook County+29%
Illinois+27%
United States+29%
Change since 2015–2019: Franklin Park and its comparisons
Measure
Franklin Park
Cook County
Illinois
United States
Typical home value
+41%
+32%
+35%
+53%
Typical rent
+26%
+28%
+26%
+33%
Typical household income
+20%
+29%
+27%
+29%
Since 2015–2019, homes in Franklin Park gained value faster than in Cook County: 41% against 32%.
The typical rent in Franklin Park rose 26% since 2015–2019, about the same as in Cook County (28%).
The typical household income in Franklin Park rose 20%: less than home values (+41%) and rent (+26%).
How people live
U.S. Census Bureau, ACS 5-year, 2020–2024
How people live: Franklin Park and its comparisons
Measure
Franklin Park
Cook County
Illinois
United States
Rental vacancy
Unreliable estimate
4.5%
5.0%
5.5%
Homeowner vacancy
Unreliable estimate
1.1%
1.0%
0.9%
More than one person per room
8.7%
3.3%
2.5%
3.4%
People per household
3.03
2.43
2.46
2.53
Drive alone
75%
55%
66%
69%
Carpool
11%
8%
8%
9%
Public transit
Unreliable estimate
12%
6%
3%
Walk or bike
Unreliable estimate
5%
3%
3%
Work from home
7%
19%
16%
15%
Other means
Unreliable estimate
2%
1%
2%
Typical commute
Unreliable estimate
30 to 39 minutes
20 to 29 minutes
20 to 29 minutes
More than one person per room: that is how 8.7% of households in Franklin Park live, more than in Cook County (3.3%).
More people live in each home here: 3.03 on average, against 2.43 in Cook County.
In Franklin Park, 11% of workers share a car to get to work; in Cook County, 8%.
Do the math
What would you pay each month for a home in Franklin Park?
A typical home costs more than the typical income allows
We start with a typical home in Franklin Park, worth $287,000, an FHA loan with 3.5% down and the latest average rate (7.18%). That payment would take 42% of the typical household income in Franklin Park, which is $76,519 a year. For that payment to be 28% of income, a household would need to earn about $115,853 a year.
The calculator's FHA and conventional loan limits are those of all of Cook County.
Change the price, the down payment or the loan: the payment updates right away.
Your numbers
Local data
$
Starts at the typical home value in Franklin Park. Change it to the price you have in mind.
Your score changes which loans apply and FHA's minimum down payment. Your real rate also depends on your credit.
Down payment
%
That is $10,045 (3.5% of the price). The usual minimum for this loan is 3.5%.
This week's average ± a quarter or half point.
National average as of November 5, 2026 (Freddie Mac); your rate may be different.
Adjust advanced details⌄
Estimated monthly payment
Local data
$2,703
at 7.18% · 30 years
Loan amount
$281,802
Total interest
$405,447
Paid off in
November 2056
Includes $4,847 FHA upfront mortgage insurance premium.
Does it fit the income?
Comfortable
up to $1,785 a month
Tight
$1,785 to $2,296 a month
Hard
more than $2,296 a month
Your payment · 42%
Compared with the typical household income in Franklin Park ($76,519 a year). Reference: HUD calls paying more than 30% of income for housing a cost burden.
Monthly payment breakdown
Principal & interest
$1,909
Property tax
$548
Home insurance
$120
FHA mortgage insurance (MIP)
$127
You need at least $10,045 for the down payment, plus closing costs.
This is an estimate to give you an idea, not a loan offer. Your real payment depends on your rate, your credit, and the insurance and taxes on the home you buy.
Total monthly payment $2,703; principal and interest $1,909.
The city and its county
Franklin Park and Cook County
Franklin Park is in Cook County, Illinois. The U.S. Census Bureau publishes its own numbers for the city: home values, rent, household income, how many households own their home and the property tax. They are American Community Survey estimates (average 2020–2024).
Franklin Park
Map of Cook County, Illinois, with Franklin Park marked. Around it, the neighboring counties.
Franklin Park
Cook County
Other cities with a page
Franklin Park's own numbers
Typical home value
$287,000
Typical monthly rent
$1,109
Typical yearly household income
$76,519
Households that own their home
75%
Effective property tax rate
2.29%
U.S. Census Bureau, American Community Survey (average 2020–2024).
Numbers for all of Cook County
FHA limit, one-unit home
$541,287
Conventional limit, one unit
$832,750
HUD fair market rent, 2 bedrooms
$2,011
Price change over 5 years (FHFA)
+42%
Homes in a high flood-risk zone
1%
HUD, FHFA and FEMA don't publish these numbers by city.
Other numbers are not published by city, only for the whole county: FHA and conventional loan limits, HUD’s fair market rents, FHFA’s price index and FEMA’s flood data. On this page, those numbers always say they are for all of Cook County.
A typical home in Franklin Park is worth $287,000: 12% below the county and 9% above Illinois. With the typical household income in Franklin Park ($76,519 a year), a typical home costs 3.8 times what the household earns in a year.
Years of income to pay for a typical home
The typical home value divided by the typical household income for one year. The lower it is, the less buying weighs.
Franklin Park3.8 years
Cook3.9 years
Illinois3.2 years
United States4.1 years
Source: U.S. Census Bureau, Average 2020–2024
How prices have changed in Cook County
According to FHFA’s house price index, home prices in Cook County rose 61% in the 10 years through 2025.
FHFA does not publish this index by city: these are the numbers for all of Cook County.
Yearly change in FHFA’s price index in Cook County, 2016 to 2025
2016: +3.9% +3.9% 2016
2017: +3.2% +3.2% 2017
2018: +2.5% +2.5% 2018
2019: +2.7% +2.7% 2019
2020: +0.9% +0.9% 2020
2021: +7.2% +7.2% 2021
2022: +11.3% +11.3% 2022
2023: +5.7% +5.7% 2023
2024: +6.4% +6.4% 2024
2025: +5.5% +5.5% 2025
Change in FHFA’s price index in Cook County, Illinois and the United States
Period
County
Illinois
U.S.
Last year (2025)
+5.5%
+5.7%
+2.9%
5 years (2020–2025)
+42%
+47%
+47%
10 years (2015–2025)
+61%
+65%
+85%
The index follows the price of the same homes over time (sales and appraisals with Fannie Mae and Freddie Mac loans). It is not the average price of a home. FHFA considers its annual county indexes experimental. Source: FHFA, 2025 data
Franklin Park next to Cook County, Illinois and the U.S.
Three numbers side by side. “Typical” means the median: half are above it and half below.
Typical home value
Franklin Park$287,000
Cook$324,500
Illinois$263,300
United States$332,700
Typical monthly rent
Franklin Park$1,109
Cook$1,435
Illinois$1,274
United States$1,413
Typical yearly household income
Franklin Park$76,519
Cook$83,498
Illinois$83,390
United States$80,734
See the full table
Franklin Park next to Cook County and Illinois
Measure
Franklin Park
Cook County
Illinois
U.S.
Typical home value
$287,000 ▼12% below the county
$324,500
$263,300
$332,700
Typical monthly rent
$1,109 ▼23% below the county
$1,435
$1,274
$1,413
Typical yearly household income
$76,519 ▼8% below the county
$83,498
$83,390
$80,734
Households that own their home
75% ▲17 points above the county
58%
67%
65%
Typical yearly property tax
$6,561 ▲6% above the county
$6,191
$5,298
$3,119
Effective property tax rate
2.29% ▲0.38 points above the county
1.91%
2.01%
0.94%
Renters with high rent for their income
44% ▼5 points below the county
49%
48%
51%
“Typical” means the median: half are above and half are below. ▲ and ▼ say whether the city is above or below Cook County. “High rent” is the Census measure: renter households that pay 30% or more of their income in rent.
Four ways to pay for a typical home in Franklin Park
For a typical $287,000 home in Franklin Park, at Freddie Mac's average rate (7.18% as of November 5, 2026) over 30 years. The monthly payment adds principal and interest, Franklin Park's typical property tax, an example home insurance and mortgage insurance when it applies.
FHA, 3.5% down$2,703a month
Least cash to close
Down payment
$10,045
Cash to close
$18,655
Rate
7.18%
Mortgage insurance
FHA MIP · $127
Conventional, 5% down$2,651a month
Down payment
$14,350
Cash to close
$22,960
Rate
7.18%
Mortgage insurance
PMI · $136
Conventional, 20% down, no PMI$2,223a month
Down payment
$57,400
Cash to close
$66,010
Rate
7.18%
Mortgage insurance
None
ITIN, 15% down (example)$2,488a month
Down payment
$43,050
Cash to close
$51,660
Rate
8.18%
Mortgage insurance
None
Four ways to pay for a typical home in Franklin Park
Loan
Monthly payment
Down payment
Loan amount
Rate
Mortgage insurance
Cash to close
Minimum score
FHA, 3.5% down Least cash to close
$2,703
$10,045
$281,802
7.18%
FHA MIP · $127
$18,655
580
Conventional, 5% down
$2,651
$14,350
$272,650
7.18%
PMI · $136
$22,960
620*
Conventional, 20% down, no PMI
$2,223
$57,400
$229,600
7.18%
None
$66,010
620*
ITIN, 15% down (example)
$2,488
$43,050
$243,950
8.18%
None
$51,660
Set by the lender
The option that asks for the least cash to close is FHA, 3.5% down.
Cash to close = down payment plus 3% of the price in closing costs (example).
Minimum score: FHA requires 580 or higher for the minimum down payment (HUD Handbook 4000.1). * Fannie Mae requires 620 when a loan is underwritten by hand; its automated system has no fixed minimum.
The ITIN row is an example with a rate 1 percentage point higher: ITIN loans follow no federal rule and each lender sets its own down payment and rate. Nothing in this table promises an approval.
Typical rent in Franklin Park is $1,109 a month: 23% below the county. In Franklin Park, 44% of renter households pay 30% or more of their income in rent.
HUD publishes a fair market rent for all of Cook County, by unit size. To pay the 2-bedroom one ($2,011 a month) without spending more than 30% of your income, you would need to earn $38.67 an hour working full time.
What you need to earn to pay it without spending more than 30% of income, working full time.
HUD fair market rent in Cook County (Fiscal year 2027)
Size
Fair rent a month
Hourly wage
Yearly income
Studio
$1,678
$32.27
$67,120
1 bedroom
$1,780
$34.23
$71,200
2 bedrooms
$2,011
$38.67
$80,440
3 bedrooms
$2,586
$49.73
$103,440
4 bedrooms
$2,954
$56.81
$118,160
Includes basic utilities. It isn't the lowest or highest rent: it's a reference point. Source: HUD, Fiscal year 2027
By ZIP code
Fair market rent by ZIP code in Franklin Park
HUD also publishes a fair market rent for each ZIP code (Small Area FMR, fiscal year 2027). Franklin Park is in ZIP code 60131.
For 2 bedrooms it is $1,570: $441 less than the fair market rent for Cook County ($2,011).
Fair market rent by ZIP code and size in Franklin Park, fiscal year 2027.
ZIP code
Studio
1 bd
2 bd
3 bd
4 bd
60131
$1,310
$1,390
$1,570
$2,020
$2,310
ZIP code2 bd3 bd
60131 $1,570$2,020
1 of these ZIP codes crosses the city line: HUD sets the rent by ZIP code, not by city. A ZIP code counts for Franklin Park when at least 50% of its land is inside the city or it covers at least 15% of the city (Census 2020 boundaries). Source: Small Area Fair Market Rents (HUD)Fiscal year 2027Small Area Fair Market Rents (HUD) (external site)Source: Census Bureau ZCTA-to-place relationship fileData from 2020 dataCensus Bureau ZCTA-to-place relationship file (external site)
You do not have to do this alone. A HUD-approved housing counseling agency helps for free or at low cost: getting ready to buy, understanding your credit, or solving a problem with your rent.
There are 42 HUD-approved agencies with an office in Cook County; 19 say they serve in Spanish.
No down payment, repair or rent-help program on our list is for Franklin Park or Cook County. The ones below are statewide in Illinois: they work in Franklin Park the same as in the rest of the state.
IHDA second loan with no payments until you sell or refinance, for the down payment in Illinois.Offered by Illinois Housing Development Authority (IHDA).
The HUD-approved agencies closest to the center of Franklin Park, in a straight line, nearest first. If one says it serves in Spanish, its card says so.
NS
Northwest Side Housing Center (NWSHC)
5233 W Diversey Ave, Chicago · 6 miles away · Spanish
No legal help resource on our list is for Franklin Park or Cook County in particular.
If you have a problem with your landlord, an eviction notice or a scam, the Legal Services Corporation (LSC) search shows the free legal aid offices that serve your area.
Short answers with the numbers for Franklin Park and all of Cook County. If your case is different, a HUD-approved counseling agency can guide you for free or at low cost.
How much does a typical home cost in Franklin Park?
The typical home value in Franklin Park is $287,000, according to the U.S. Census Bureau (average 2020–2024). For comparison, in Cook County it is $324,500.
How much does it cost to rent in Franklin Park?
Typical rent in Franklin Park is $1,109 a month, according to the U.S. Census Bureau. HUD’s fair market rent for 2 bedrooms in Cook County is $2,011.
What is the FHA loan limit in Franklin Park?
Franklin Park uses the FHA limit for all of Cook County (2026): $541,287 for a one-unit home and $1,041,125 for a four-unit home.
How much property tax do owners pay in Franklin Park?
The typical homeowner in Franklin Park pays $6,561 a year, according to the U.S. Census Bureau. That is 2.29% of the home’s value; in Cook County, the rate is 1.91%.
Where can I find free help to buy or rent in Franklin Park?
There are 42 HUD-approved counseling agencies with an office in Cook County. 19 say they serve in Spanish. They can help you get ready to buy, with your credit, or with rent.
