60423, Frankfort, IL

The Frankfort, IL 60423 zip code has a median home value of $128,000 and a median home equity of $101,000. This is lower than the Illinois median home value of $162,500 and the national median home equity of $106,200. The percentage of homes in the Frankfort 60423 zip code that are worth less than their mortgages is 26%. This is higher than the Illinois percentage of 23% and the national percentage of 24%. The percentage of homes in the Frankfort 60423 zip code that are worth more than their mortgages is 74%. This is higher than the Illinois percentage of 67% and the national percentage of 66%.

There are a number of factors that could contribute to these differences. Some potential reasons include low population density in this area which could lead to more expensive homes being sold, high levels of unemployment which could lead to fewer buyers able to afford a home outright, or lower incomes which might not be able to cover monthly mortgage payments. Whatever the reason may be, it seems that homeownership rates in this area are lower than average.