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Franklin village, IL

ZIP 62638 — Housing & Real Estate

Source: U.S. Census Bureau ACS 2019–2023 5-Year Estimates. Page data updated 2026-08-02.

Middle ClassLow Snow Area

Home values, rent, tenure, and housing stock

Housing & Real Estate in ZIP Code 62638

Median Home Value
$122,000
Median Rent
$563
Affordability Snapshot
$34,000
Est. income to buy

Household income needed for a median home under a 20% down / 6.8% illustrative mortgage model (~$784/mo PITI).

8%
Rent-to-Income Ratio

Below the 30% threshold — generally affordable for median earners.

1.5x
Home Price-to-Income Ratio

Below 3x — relatively affordable housing market.

18.1 yrs
Price-to-Rent Ratio

Years to break even buying vs renting at median home value and rent.

To comfortably buy a median-priced home in ZIP 62638 in Franklin village, IL, a household would need roughly $34,000 in annual income under a 20% down, 30-year loan at 6.8% (illustrative), keeping housing costs near 28% of income. Estimated monthly PITI is about $784. That sits below the local median household income ($80,395), suggesting the typical household income is closer to a workable buy-in level under these assumptions. Rates, taxes, insurance, and HOA fees vary — treat this as a planning estimate, not a lender quote.

Housing Tenure

Vacancy rate 15% — check local market conditions.

Heating Fuel
Housing Metrics
Owner Occupied
77.6%+19% vs US avg
x
Vacancy Rate
15.1%+46% vs US avg
x
Broadband Access
83.1%-5% vs US avg
x
4+ Bedrooms
4.5%-70% vs US avg
x
Built Pre-1939
11.6%-9% vs US avg
x
Built Post-2014
1.2%-83% vs US avg
x
Rent Burden >30%
0.0%
x
Mortgage-Free
53.5%+40% vs US avg
x
$122,000
Home Value
$563
Rent
1965
Year Built
2011
Moved In

Residents have lived here since ~2011 on average

Housing Structure

Census ACS structure types (single-family, multi-unit, etc.).

  • 1-unit detached83.0%
  • 1-unit attached1.9%
  • 2-9 units3.8%
  • 10+ units0.0%
  • Mobile home & other11.3%

Housing & Real Estate key statistics

Housing statistics
Housing
Median home value$122,000
Median rent$563
Owner-occupied77.6%
Vacant15.1%
Price-to-income1.5x
Est. income to buy$34,000