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Franklin Grove, IL
Full City Profile · Illinois · Lee County County
3.1
/5.0
B
Good
1,086
Population
2,586/sq mi density
$60,833
Median Income
$30,081 per capita
$136,800
Home Value
$179,330 Zillow
$850
Median Rent
23.7% income on rent
48°F
Avg Temperature
275 sunny days/yr
102
Violent Crime/100K
410 property/100K
B
Overall
3.1 / 5.0
Good overall score based on economy, affordability, safety and education
B+
Economy
3.9 / 5.0
$60,833 median income, 0.7% unemployment
A+
Affordability
5.0 / 5.0
$136,800 home value, $850/mo rent
F
Safety
1.0 / 5.0
102 violent crimes/100K
C+
Education
2.5 / 5.0
19.1% bachelor's degree or higher
Housing Overview
Median Home Value
$136,800
51% below
US avg: $281,900
Median Rent
$850/mo
27% below
US avg: $1,163/mo
Homeownership Rate
66.2%
1% above US avg (65.4%)
Total Housing Units
418
Median year built: 1943
Home Value by Source
Census Median
$136,800
Zillow (ZHVI)
$179,330
Census ACS, Zillow ZHVI, Redfin median sale price
Ownership vs. Renting
66.2%
Owner-Occupied
33.8%
Renter-Occupied
US avg: 65.4% owner-occupied
Fair Market Rents (HUD FY2026)
Studio
$774/mo
1 Bedroom
$854/mo
2 Bedroom
$1,063/mo
3 Bedroom
$1,370/mo
4 Bedroom
$1,561/mo
Census median rent:
$850/mo
Affordability & Housing Stock
Rent Burden
23.7%
of renters spending 30%+ of income on housing
24% below US avg (31.0%)
Median Year Built
1943
Average age of housing stock: 83 years
Homeownership Rate
66.2%
Complete Housing Data
Home Values
| Census Median Value | $136,800 |
| Zillow Home Value (ZHVI) | $179,330 |
Rent
| Census Median Rent | $850 |
| FMR Studio | $774 |
| FMR 1-Bedroom | $854 |
| FMR 2-Bedroom | $1,063 |
| FMR 3-Bedroom | $1,370 |
| FMR 4-Bedroom | $1,561 |
Market
Ownership & Stock
| Owner-Occupied | 66.2% |
| Renter-Occupied | 33.8% |
| Homeownership Rate | 66.2% |
| Total Housing Units | 418 |
| Median Year Built | 1943 |
| Rent Burden | 23.7% |