Wave-equation traveltime inversion (WTI) is a useful tool for background velocity model building. It is generally formulated and implemented in the time domain, in which the gradient is calculated by temporally crosscorrelating the source- and receiver-side wavefields. The time-domain source-side snapshots are either stored in memory or are reconstructed through back propagation. The memory requirements and computational cost of WTI are thus prohibitively expensive, especially for 3D applications. To partially alleviate this problem, we provide an implementation of WTI in the frequency domain with a monofrequency component. Because only one frequency is used, it is affordable to directly store the source- and receiver-side wavefields in memory. There is no need for wavefield reconstruction during gradient calculation. In such a way, we have dramatically reduced the memory requirements and computational cost compared with the traditional time-domain WTI realization. For practical implementation, the frequency-domain wavefield is calculated by time-domain finite-difference forward modeling and is transformed to the frequency domain by an on-the-fly discrete Fourier transform. Numerical examples on a simple lateral periodic velocity model and the Marmousi model demonstrate that our method can obtain accurate background velocity models comparable with those from time-domain WTI and frequency-domain WTI with multiple frequencies. A field data set test indicates that our method obtains a background velocity model that well predicts the seismic wave traveltime.