The story of this market
The typical home in ZIP 60423 sells for about $505,000, or $209 per square foot.
Prices are up +4.7% from a year ago, so sellers still have some momentum. Homes take about 35 days to sell. HUD's fair market rent for a two-bedroom is $1,492 a month.
ZIP 60423 — Frankfort
The 60423 housing market remains stable with steady demand for single-family homes, though high price-to-rent ratios limit investment appeal. Prices have seen modest year-over-year growth, supported by the area's strong school reputation and suburban appeal. Market activity is currently constrained by limited inventory, keeping days on market relatively low.
This ZIP is ideal for families seeking suburban living with high-quality schools and a quiet residential environment, though it presents challenges for passive investors due to high entry prices.
Median prices moved up 4.7% year over year.
Homes spend a median of 35 days on market with 4.2 months of supply — a fast-moving market.
16% of listings have cut prices · homes sell at 98.5% of asking — demand is running ahead of supply.
no recorded foreclosure-ledger notices (0.0 per 10,000 residents) · unemployment 5.5% · poverty 4.5% — a stable, low-distress profile.
Researched annual trajectory for this ZIP, from published historical series
Solid: researched ten-year history · dotted: 1 / 3 / 5-year projection extended from the historical 5.0%/yr trend — a deterministic estimate, not a published forecast or guarantee.
Median annual property tax paid on this ZIP's residential parcels
Solid: researched ten-year history · dotted: 1 / 3 / 5-year projection extended from the historical 3.7%/yr trend — a deterministic estimate, not a published forecast or guarantee.
versus the prior ACS vintage
ZCTA 60423, Illinois
The area is served by highly-rated public schools within the Lincoln-Way Community High School District and Frankfort School District 157C.
The area features steady suburban development with proximity to major employment hubs in the Chicago south suburbs and I-80 corridor.
Composed from the ARED governance burden registry — tier-native tax structure (state + county + city + special districts), never averaged. State (Illinois) — Property Tax Assessment (Fair Cash Value): Property is assessed at 33 1/3% of its fair cash value. The tax bill is calculated by multiplying the equalized assessed value (EAV) by the aggregate tax rate of the local taxing districts.
Residents primarily commute via personal vehicle to Chicago or nearby employment centers, with access to Metra commuter rail services in the vicinity.
The area offers extensive park systems, forest preserves, and golf courses, including the Hickory Creek Forest Preserve and various local community parks.
The rental market is characterized by a high price-to-rent ratio, making it challenging for cash-flow-focused investors.
The local economy is driven by professional services, retail, and proximity to the broader Chicago metropolitan industrial and logistics sectors.
The area is served by major regional highways including I-80 and I-355, facilitating access to the Chicago loop and surrounding suburbs.
Ongoing residential development continues in the Frankfort area, focusing on single-family housing expansion.
Parcels are subject to various special districts including school, library, and park districts typical of Illinois suburban governance.
Data retrieved from US Census Bureau ZCTA 60423 profiles.
Public schools whose reported address is in this area (NCES). Not attendance boundaries — schools that serve residents may sit outside it. Check the district's address locator for assignment.
Large nature preserve with trails and wildlife.
Private golf course and social club.
Key-figure check: median price corroborated by the published ten-year series (2025) (within 12.5%).