Home Insurance in Franklin Park, Illinois
The median home value in Franklin Park is $287,000, 12% lower than the Cook County median.
Older homes can cost more to insure or rebuild because of aging wiring, roofing and plumbing. The typical home in Franklin Park was built around 1957. About 62% of homes were built before 1960, about 13 points above Cook County's 49%.
The housing stock in Franklin Park is 75% single-family homes, 18% apartments in buildings with 5+ units and 1% mobile or manufactured homes.
About 61% of owner-occupied homes in Franklin Park have a mortgage. Lenders require hazard (homeowners) insurance on any home carrying a mortgage.
Franklin Park has an owner-occupancy rate of 75% and a vacancy rate of 3%; unoccupied homes typically need a different coverage form.
Most homes in Franklin Park - 85% - are primarily heated with natural gas.
Cook County had 11,554 active NFIP flood policies as of September 2026. Its top FEMA-rated hazard is winter weather (Very High). See the full Cook County home insurance overview for all FEMA hazard ratings and flood coverage details.
In Illinois, the statewide average premium for a standard HO-3 homeowners policy is $1,480 per year (NAIC, 2023 data).
Key figures
| Median home value | $287,000 |
|---|---|
| Median year built | 1957 |
| Owner-occupied share | 75% |
| Share of owner-occupied homes with a mortgage | 61% |
| Top county hazard | Winter Weather (Very High) |
| Active NFIP policies in Cook County | 11,554 |
| Home insurance premium | $1,480 - statewide average (NAIC, 2023 data) |
Nearby towns
Sources
Data last updated: 2026-09-29
- U.S. Census Bureau Gazetteer Files (2024)
- U.S. Census Bureau, American Community Survey 2020-2024 5-Year Estimates (2024)
- FEMA National Risk Index (December 2025)
- FEMA OpenFEMA NFIP Redacted Policies v3 (2026)
- NAIC Dwelling Fire, Homeowners Owner-Occupied, and Homeowners Tenant and Condominium/Cooperative Unit Owners Insurance: Data for 2023 (published 2026) (2023)