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The total population of Frankfort is estimated to be 20,260 with 10,357 males (51.12%) and 9,903 females (48.88%). There are 454 less females than males in Frankfort.
The median household income in Frankfort was $157,429 in 2021, which marked an a decrease of 2,039(1.28%) from $159,468 in 2020. This income is 211.01% of the U.S. median household income of $74,606 (all incomes in 2022 inflation-adjusted dollars).
Per the latest American Community Survey by the Census Bureau, Frankfort sees its highest median household income among householders in the age group of 25 to 44 years old, at $229,766. Overall, the median household income for the village of Frankfort stands at $157,429.
In Frankfort, the median income for all workers aged 15 years and older, regardless of work hours, was $83,235 for males and $46,660 for females. However, when specifically considering full-time, year-round workers within the same age group, the median income was $118,471 for males and $78,307 for females.
In Frankfort, the demographic landscape is diverse, spanning 4 distinct racial categories among households. Among these, Black or African American households have the highest median household income at $230,552, while Two or More Races households represent the opposite end with the lowest median household income of $111,694.
In 2022, the population of Frankfort was 20,677, a 0.81% increase year-by-year from 2021. Previously, in 2021, Frankfort's population was 20,510, an increase of 0.97% compared to a population of 20,312 in 2020.
The median age in Frankfort, IL is 41.9, as per 2021 ACS 5-Year Estimates. Of the total population, 22.29% were under the age of 15, 15.39% aged 15 to 29, 46.61% aged 30 to 64, 15.06% aged 65 to 84, and 0.64% were 85 years of age and older.
Racial distribution of Frankfort population: 83.19% are White, 8.74% are Black or African American, 3.15% are Asian, 0.93% are some other race and 3.99% are multiracial.