At $1,800/mo, rent takes about 28% of the local median household income, comfortably within the 30% benchmark.
Rent by unit size
These are HUD Fair Market Rents, the payment standard for a Housing Choice Voucher (Section 8). They often differ from the $1,800 market median above, and that is expected: FMR is the 40th percentile of standard-quality units and counts gross rent, so it includes essential utilities such as electricity, water, gas, sewer, and trash. The market median is asking rent, which usually excludes utilities. HUD sets FMR once a year; market rent here updates monthly.
Source: HUD Small Area Fair Market Rents. Read the methodology →
12-month history
Last updated: September 25, 2026
What the numbers show
30% of the median household income ($76,519) is $1,913 a month. That covers HUD's Fair Market Rent for up to a 3-bedroom ($1,850); a 4-bedroom is $2,170.
From Zillow's monthly rent index (ZORI) for Franklin Park. Income is the Census median household income (5-year estimates). Fair Market Rents are HUD’s, which include utilities.
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Who lives here
Franklin Park, IL is majority owner-occupied, 19.7% of residents hold a bachelor's degree or higher.
Source: U.S. Census Bureau · ACS 2024 5-Year Estimates
How Franklin Park, IL has changed in 5 years
Household income in the area moved from $70,221 to $76,519 across the same window, up 9.0% versus 2021. The population has contracted by 1.3% since 2021, moving from about 18,435 residents to roughly 18,197. Renters now make up 24.9% of households, compared with 26.7% five years ago. College-educated residents now make up 19.7% of adults here, versus 16.1% in 2021.
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Can you afford rent in Franklin Park on your salary?
At $1,800/mo, how Franklin Park rent compares to typical pay (30% rule).
Franklin Park rent by bedroom count
Median rent for each apartment size in Franklin Park. Click any size for full breakdown.
Tips for renters in Franklin Park
Last updated: September 25, 2026
The median rent in Franklin Park is $1,800/mo as of September 2026. A studio apartment averages $1,190/mo while a 2-bedroom runs $1,440/mo. One-bedroom apartments average $1,280/mo and 3-bedroom units go for $1,850/mo.
At 28% of local median household income ($76,519/yr), Franklin Park ranks as affordable compared to the national benchmark of 30%. Rent prices have stayed steady over the past year.
Frequently asked questions
How much income do you need to rent in Franklin Park?
Is rent going up or down in Franklin Park?
How does Franklin Park rent compare to other cities in Illinois?
Which nearby cities are cheaper to rent in than Franklin Park?
At $1,800/mo, rent takes ~28% of Franklin Park's median household income ($76,519/yr). The standard benchmark is 30%.
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Estimated from ZIP-level data
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