Foreclosure Homes in Franklin Grove, IL

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View this home at Herman Rd Franklin Grove IL 61031
$112,895 EMV

| 1 Bath | 1,704 Sq. Ft.

View this home at N Elm St Franklin Grove IL 61031
$149,375 EMV
View this home at S Walnut St Franklin Grove IL 61031
$162,816 EMV
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Home Value Estimator For Franklin Grove, IL

There are currently 446 real estate properties in Franklin Grove, IL, with a median automated valuation model (AVM) price of $131,800.00. What is an AVM? It is a smart computer program that analyzes and predicts the approximate value of a home, property or land in Franklin Grove, IL, based on current market trends, comparable real estate sales nearby, historical data and, of course, property features, among other variables. These automated home estimates are often very helpful, providing buyers and sellers with a better idea of a home’s value ahead of the negotiation process. For example, the average home price in Franklin Grove, IL, is $151,354.00, with the most expensive house in Franklin Grove, IL, topping out at $1,245,700.00 and the cheapest home in Franklin Grove, IL, clocking in at $46,200.00. In other words, there’s something for every potential homebuyer or savvy investor in Franklin Grove, IL!

Rent Prices In Franklin Grove, IL

With the expiration of certain local, state and federal housing-related restrictions and mandated programs, the rental market in Franklin Grove, IL, is on a rollercoaster ride. The average rent price in Franklin Grove, IL, is $1,227.00. Indeed, when looking to rent in Franklin Grove, IL, you can expect to pay as little as $720.00 or as much as $2,380.00, with the average rent median estimated to be $1,190.00. The good news is that finding an affordable and desirable property to rent in Franklin Grove, IL -- whether it’s apartments, townhomes, condominiums or single-family homes -- is made easier with knowledge of the local market and, of course, a little patience.

Foreclosure Homes in Franklin Grove, IL

Find the best foreclosure homes listings for sale — bank-owned, government (Fannie Mae, Freddie Mac, HUD, etc.) and others — in and near the Franklin Grove, IL area at Get information on foreclosure homes for rent, how to buy foreclosures in Franklin Grove, IL and much more. Save thousands at closing with home foreclosure listings in Franklin Grove, IL — up to 75% off market value!

Top Reasons To Live In Franklin Grove, IL In 2023

Franklin Grove is located in Lee, Illinois, with an estimated municipal population of 938 residents. All of the best foreclosed homes for sale in Franklin Grove are located in the following zip code areas on 61031. The estimated population per square kilometer (.62 miles) in Franklin Grove is 763.

Cost Of Living In Franklin Grove, IL

So, about how much do homes cost in Franklin Grove? The most recent median value of resident-owned homes in Franklin Grove is 87,594. An estimated 69.3 percent of households in Franklin Grove own their homes, with an average family size of 3.11. The median household income in Franklin Grove is 48,177, with15.5 percentage of households earning at least $100,000 annually. For working parents and professionals who are searching for cheap homes in Franklin Grove, the median commute time of resident workers (in minutes) is 27.3. And last, but certainly not least, are you looking for homes to rent in Franklin Grove? If so, the average rent price paid by renters in Franklin Grove is 848, according to recent statistics.

Diversity And Demographics In Franklin Grove, Illinois

Where a home is located is almost just as important as the home itself. Whether you are a first-time homebuyer or are relocating to Franklin Grove, it is essential to take a deep dive into your potential future neighborhood. Homeownership is often a long-term relationship; therefore, be sure to do your due diligence to ensure that you make the best long-term decision.

The median age of residents in Franklin Grove is 41.9, split between 45.3 percent male versus 54.7 female. The percentage of residents who report being married in Franklin Grove is 46.1, with an average family size of 3.11.

The percentage of residents who report their race in Franklin Grove is as follows:

White 97.8%
Black / African American 1.5%
Asian 0%
American Indian / Alaskan Native 0%
Native Hawaiian / Other Pacifc Islander 0%
Multi-racial 0.7%
Other 0%

Looking for family-friendly neighborhoods in and/or near Franklin Grove? Or maybe you are searching for 55+ active adult communities in and/or near Franklin Grove?

The percentage of residents who report their age in Franklin Grove is as follows:

Under 10 12%
Aged 10-19 13.6%
20s 11.4%
30s 10.3%
40s 9.6%
50s 10.7%
60s 15.1%
70s 7.1%
80+ 10.4%

Best Schools In Franklin Grove, Illinois

It was a rollercoaster ride for academics in 2020, with school districts throughout the nation transferring their classes online because of the global pandemic. Numerous school districts will continue online courses, while others will welcome students back to campus. Regardless, homebuyers are shopping for homes in Franklin Grove with dedicated in-home learning spaces, as well as for homes located within the best school systems for in-person instruction in Franklin Grove.

Pros And Cons Of Living In Franklin Grove, Illinois

How do you know that living in -- or moving to -- Franklin Grove is right where you need to be? Perhaps you grew up in Franklin Grove or already live nearby; therefore, the decision to buy a home in Franklin Grove is a no-brainer. For others, however, it may not be such a straightforward or simple decision. Whether you are relocating to Franklin Grove for work or just looking for a fresh start, getting a read on a neighborhood from afar (online) can be tricky... and exhausting.

Here are some questions to ask yourself when shopping for foreclosed homes for sale in Franklin Grove:

  • What type of neighborhood environment (suburban, urban, rural, etc.) do you prefer?
  • What types of shopping (mom and pop, mall, big box), restaurants (fast food, chain, local) and businesses (small, big, mixed) would you like nearby?
  • What leisure-time activities (golf, biking, hiking, etc.) do you enjoy?
  • What type of commute (car, plane, home office) do you seek?

In short, it always helps to create a “Pros vs. Cons” list of what you need in a home and/or neighborhood like Franklin Grove.

Reasons To Move To Franklin Grove, Illinois, In 2023

Prospective homebuyers are clearly taking advantage of the low interest rates and numerous government assistance programs. These low interest rates mean homebuyers in Franklin Grove can now afford much more house for the same monthly payment (if interest rates were higher). Motivated and opportunistic sellers in Franklin Grove, meanwhile, can field multiple offers from more qualified buyers.

Franklin Grove, IL Foreclosures


Listing types in Franklin Grove, IL

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