Analytics built by: Location, Inc.
Raw data sources: American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data
With 28,391 people, 12,670 houses or apartments, and a median cost of homes of $198,413, house prices in Frankfort are solidly below the national average.
Single-family detached homes are the single most common housing type in Frankfort, accounting for 53.06% of the city's housing units. Other types of housing that are prevalent in Frankfort include large apartment complexes or high rise apartments ( 23.35%), duplexes, homes converted to apartments or other small apartment buildings ( 17.83%), and a few row houses and other attached homes ( 3.69%).
People in Frankfort primarily live in small (one, two or no bedroom) single-family detached homes. Frankfort has a mixture of owner-occupied and renter-occupied housing.
There is a lot of housing in Frankfort built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Frankfort built between 1940-1969 ( 37.46%). A lesser amount of the housing stock also hails from before 1939 ( 10.04%). There's also some housing in Frankfort built between 2000 and later ( 9.12%).
Real estate appreciation rates in Frankfort's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 5.84% during the period.
NeighborhoodScout's data show that during the latest twelve months, Frankfort's appreciation rate, at 7.04%, has been at or slightly above the national average. In the latest quarter, Frankfort's appreciation rate has been 1.84%, which annualizes to a rate of 7.57%.
Relative to Kentucky, our data show that Frankfort's latest annual appreciation rate is lower than 50% of the other cities and towns in Kentucky.
One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Frankfort differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Frankfort - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Frankfort real estate investment or home purchase decisions.
$198,413
for Kentucky
for nation
12,670
$1,559 / per month