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City · 28,503 residents · Franklin County, Kentucky

Frankfort , Kentucky

In Frankfort, a typical home is worth $183,700 and typical rent is $944 a month. Compared with all of Franklin County, typical household income is 19% lower, the typical home value is 15% lower, and the share of households that own their home is 16 points lower.

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  • Typical home value

    $183,700

    15% below the county

    11% below Kentucky

    • Frankfort
    • Franklin
    • Kentucky

  • Typical rent

    $944a month

    2% below the county

    2% below Kentucky

    • Frankfort
    • Franklin
    • Kentucky

  • Typical household income

    $53,073a year

    19% below the county

    17% below Kentucky

    • Frankfort
    • Franklin
    • Kentucky

  • Households that own their home

    49%

    16 points below the county

    20 points below Kentucky

    • Frankfort
    • Franklin
    • Kentucky

Source: U.S. Census Bureau, Average 2020–2024

Market now, with Zillow data

Zillow data
Typical home value
$249,495
about the same as 12 months ago
Typical rent
$989 a month
about the same as 12 months ago

From Zillow (ZHVI/ZORI), September 2026. The Census figures above are 5-year averages (2020–2024).

Frankfort is in Franklin County. The FHA loan limit ($541,287 for a one-unit home), the fair market rents and the help on this page are those of all of Franklin County. See the county

Data updated: October 1, 2026 11 official sources

Only here

What sets Frankfort apart

What this place has that others do not, from public data, most unusual first.

  1. 49% of households in Frankfort own their home, against 64% in Franklin County.

  2. The typical household income in Frankfort is $53,073, 19% less than in Franklin County as a whole ($65,298).

  3. The typical home in Frankfort is worth $183,700, 15% less than in Franklin County as a whole ($216,600).

Sources: U.S. Census Bureau (Average 2020–2024).

The homes here

Housing in Frankfort

What homes there are in Frankfort, what they cost, how that changed and how people live, from Census figures (2020–2024).

What homes there are

U.S. Census Bureau, ACS 5-year, 2020–2024

Kind of home

The detached house is still the most common home in Frankfort, but it weighs less than in Franklin County: 54% against 67%.

Year built

Homes in Frankfort are older: the typical year built is 1972; in Franklin County, 1977.

There are fewer big homes in Frankfort than in Franklin County: 49% have 3 bedrooms or more, against 63%.

All homes, occupied or empty. A figure the Census cannot measure precisely enough here is not shown.

Census tables: B25024, B25034, B25035, B25041

What it costs here

U.S. Census Bureau, ACS 5-year, 2020–2024

Value of owner-occupied homes

With an FHA limit of $541,287, at least 98% of owner-occupied homes in Frankfort sit below it: they are worth less than $500,000.

Monthly rent with utilities

Measured against HUD's 2-bedroom fair market rent ($1,145), about 65% of rented homes in Frankfort cost less.

With a mortgage

$1,232 a month

Franklin County: $1,425 a month

Without a mortgage

$468 a month

Franklin County: $495 a month

Owners with a mortgage

61%

Franklin County: 61%

Owning costs less in Frankfort: with a mortgage, the typical cost is $1,232 a month; in Franklin County, $1,425. Without one, $468.

Value: what owners think their home is worth. Rent: rent plus utilities, for homes of every size. The FHA limit is the most an FHA loan (Federal Housing Administration) lends for a one-unit home; the fair market rent (FMR) is the one HUD uses for housing vouchers.

Census tables: B25075, B25063, B25088, B25081

How it changed

U.S. Census Bureau, ACS 5-year, 2015–2019 and 2020–2024

Change since 2015–2019

The typical home value in Frankfort rose 40% since 2015–2019, less than in Franklin County (52%).

The typical rent in Frankfort rose 24% since 2015–2019, about the same as in Franklin County (27%).

Change between two 5-year periods that do not overlap, in each period's dollars, not adjusted for inflation.

Census tables: B25077, B25064, B19013

How people live

U.S. Census Bureau, ACS 5-year, 2020–2024

MeasureFrankfortFranklin CountyKentuckyUnited States
Rental vacancy Unreliable estimateUnreliable estimate4.6%5.5%
Homeowner vacancy Unreliable estimateUnreliable estimate0.9%0.9%
More than one person per room Unreliable estimate2.0%2.0%3.4%
People per household 2.112.202.432.53
Drive alone 75%73%77%69%
Carpool 11%10%9%9%
Public transit Unreliable estimateUnreliable estimate1%3%
Walk or bike 2%2%2%3%
Work from home 11%14%10%15%
Other means Unreliable estimateUnreliable estimate1%2%
Typical commute 10 to 19 minutes10 to 19 minutes20 to 29 minutes20 to 29 minutes

Much as in Franklin County, a household in Frankfort has 2.11 people on average.

The car rules in Frankfort: 75% of workers drive to work alone, and the typical trip takes 10 to 19 minutes.

Vacancy: empty homes offered for rent or for sale. Rooms: every room in the home, not only bedrooms. Commute: the minute range of the typical worker.

Census tables: B25004, B25003, B25014, B25010, B08301, B08303

Do the math

What would you pay each month for a home in Frankfort?

A typical home is tight for the typical income

We start with a typical home in Frankfort, worth $183,700, an FHA loan with 3.5% down and the latest average rate (7.18%). That payment would take 34% of the typical household income in Frankfort, which is $53,073 a year. For that payment to be 28% of income, a household would need to earn about $64,772 a year.

The calculator's FHA and conventional loan limits are those of all of Franklin County.

Your numbers

Local data
$

Starts at the typical home value in Frankfort. Change it to the price you have in mind.

Loan type
Your credit score

Your score changes which loans apply and FHA's minimum down payment. Your real rate also depends on your credit.

Down payment
%

That is $6,430 (3.5% of the price). The usual minimum for this loan is 3.5%.

This week's average ± a quarter or half point.

Term

National average as of November 5, 2026 (Freddie Mac); your rate may be different.

Adjust advanced details

Estimated monthly payment

Local data

$1,511

at 7.18% · 30 years

Loan amount
$180,372
Total interest
$259,513
Paid off in
November 2056

Includes $3,102 FHA upfront mortgage insurance premium.

Does it fit the income?

  • Comfortable

    up to $1,238 a month

  • Tight

    $1,238 to $1,592 a month

    Your payment · 34%

  • Hard

    more than $1,592 a month

Compared with the typical household income in Frankfort ($53,073 a year). Reference: HUD calls paying more than 30% of income for housing a cost burden.

Show the result as
per month$1,511
Principal & interest$1,222
Property tax$132
Home insurance$77
FHA mortgage insurance (MIP)$81

You need at least $6,430 for the down payment, plus closing costs.

Next step

This is an estimate to give you an idea, not a loan offer. Your real payment depends on your rate, your credit, and the insurance and taxes on the home you buy.

The city and its county

Frankfort and Franklin County

Frankfort is in Franklin County, Kentucky. The U.S. Census Bureau publishes its own numbers for the city: home values, rent, household income, how many households own their home and the property tax. They are American Community Survey estimates (average 2020–2024).

Frankfort's own numbers

Typical home value
$183,700
Typical monthly rent
$944
Typical yearly household income
$53,073
Households that own their home
49%
Effective property tax rate
0.86%

U.S. Census Bureau, American Community Survey (average 2020–2024).

Numbers for all of Franklin County

FHA limit, one-unit home
$541,287
Conventional limit, one unit
$832,750
HUD fair market rent, 2 bedrooms
$1,145
Price change over 5 years (FHFA)
+54%
Homes in a high flood-risk zone
2.9%

HUD, FHFA and FEMA don't publish these numbers by city.

Other numbers are not published by city, only for the whole county: FHA and conventional loan limits, HUD’s fair market rents, FHFA’s price index and FEMA’s flood data. On this page, those numbers always say they are for all of Franklin County.

Everything about Franklin County

Buying

Buying a home in Frankfort

A typical home in Frankfort is worth $183,700: 15% below the county and 11% below Kentucky. With the typical household income in Frankfort ($53,073 a year), a typical home costs 3.5 times what the household earns in a year.

Years of income to pay for a typical home

The typical home value divided by the typical household income for one year. The lower it is, the less buying weighs.

  • Frankfort 3.5 years
  • Franklin 3.3 years
  • Kentucky 3.2 years
  • United States 4.1 years
Source: U.S. Census Bureau, Average 2020–2024

How prices have changed in Franklin County

According to FHFA’s house price index, home prices in Franklin County rose 89% in the 10 years through 2025.

FHFA does not publish this index by city: these are the numbers for all of Franklin County.

Period County Kentucky U.S.
Last year (2025) +1.6% +3.9% +2.9%
5 years (2020–2025) +54% +50% +47%
10 years (2015–2025) +89% +84% +85%

The index follows the price of the same homes over time (sales and appraisals with Fannie Mae and Freddie Mac loans). It is not the average price of a home. FHFA considers its annual county indexes experimental. Source: FHFA, 2025 data

Frankfort next to Franklin County, Kentucky and the U.S.

Three numbers side by side. “Typical” means the median: half are above it and half below.

Typical home value
  • Frankfort $183,700
  • Franklin $216,600
  • Kentucky $205,600
  • United States $332,700
Typical monthly rent
  • Frankfort $944
  • Franklin $967
  • Kentucky $967
  • United States $1,413
Typical yearly household income
  • Frankfort $53,073
  • Franklin $65,298
  • Kentucky $63,726
  • United States $80,734
See the full table
Frankfort next to Franklin County and Kentucky
Measure Frankfort Franklin County Kentucky U.S.
Typical home value $183,700 $216,600 $205,600 $332,700
Typical monthly rent $944 $967 $967 $1,413
Typical yearly household income $53,073 $65,298 $63,726 $80,734
Households that own their home 49% 64% 68% 65%
Typical yearly property tax $1,571 $1,716 $1,544 $3,119
Effective property tax rate 0.86% 0.79% 0.75% 0.94%
Renters with high rent for their income 46% 44% 45% 51%

“Typical” means the median: half are above and half are below. ▲ and ▼ say whether the city is above or below Franklin County. “High rent” is the Census measure: renter households that pay 30% or more of their income in rent.

Four ways to pay for a typical home in Frankfort

For a typical $183,700 home in Frankfort, at Freddie Mac's average rate (7.18% as of November 5, 2026) over 30 years. The monthly payment adds principal and interest, Frankfort's typical property tax, an example home insurance and mortgage insurance when it applies.

  • FHA, 3.5% down $1,511a month

    Least cash to close
    Down payment
    $6,430
    Cash to close
    $11,941
    Rate
    7.18%
    Mortgage insurance
    FHA MIP · $81

  • Conventional, 5% down $1,478a month

    Down payment
    $9,185
    Cash to close
    $14,696
    Rate
    7.18%
    Mortgage insurance
    PMI · $87

  • Conventional, 20% down, no PMI $1,204a month

    Down payment
    $36,740
    Cash to close
    $42,251
    Rate
    7.18%
    Mortgage insurance
    None

  • ITIN, 15% down (example) $1,374a month

    Down payment
    $27,555
    Cash to close
    $33,066
    Rate
    8.18%
    Mortgage insurance
    None

The option that asks for the least cash to close is FHA, 3.5% down.

  • Cash to close = down payment plus 3% of the price in closing costs (example).
  • Minimum score: FHA requires 580 or higher for the minimum down payment (HUD Handbook 4000.1). * Fannie Mae requires 620 when a loan is underwritten by hand; its automated system has no fixed minimum.
  • The ITIN row is an example with a rate 1 percentage point higher: ITIN loans follow no federal rule and each lender sets its own down payment and rate. Nothing in this table promises an approval.

How much house can I afford? Estimate closing costs

Taxes and floods

Two costs that change from place to place

Property tax and flood insurance raise or lower what you pay each month. Here are the numbers for Frankfort and for Franklin County.

Property tax

Effective rate in Frankfort

0.86%of the home’s value each year

$1,571 a year for the typical owner in Frankfort.

  • Frankfort 0.86%
  • Franklin 0.79%
  • Kentucky 0.75%

What Kentucky publishes Homestead exemption for owners 65 or older or totally disabled (Kentucky Department of Revenue)

Exemptions and deadlines in Kentucky

Flood risk in Franklin County

FEMA does not publish these numbers by city: they are for all of Franklin County.

Homes in the high-risk zone
2.9%
525
Of those, with NFIP insurance
42%
County Kentucky U.S.
Homes in the high-risk zone 2.9% 3.5% 3.5%
Of those, with NFIP insurance 42% 19% 48%

Most homeowners insurance policies do not cover flood damage.

Look up your address on FEMA’s map

Renting

Renting in Frankfort

Typical rent in Frankfort is $944 a month: 2% below the county. In Frankfort, 46% of renter households pay 30% or more of their income in rent.

HUD publishes a fair market rent for all of Franklin County, by unit size. To pay the 2-bedroom one ($1,145 a month) without spending more than 30% of your income, you would need to earn $22.02 an hour working full time.

HUD fair market rent for all of Franklin County

What you need to earn to pay it without spending more than 30% of income, working full time.

Size Fair rent a month Hourly wage Yearly income
Studio $797 $15.33 $31,880
1 bedroom $909 $17.48 $36,360
2 bedrooms $1,145 $22.02 $45,800
3 bedrooms $1,466 $28.19 $58,640
4 bedrooms $1,811 $34.83 $72,440

Includes basic utilities. It isn't the lowest or highest rent: it's a reference point. Source: HUD, Fiscal year 2027

By ZIP code

Fair market rent by ZIP code in Frankfort

HUD also publishes a fair market rent for each ZIP code (Small Area FMR, fiscal year 2027). Frankfort is in ZIP code 40601.

For 2 bedrooms it is $1,180: $35 more than the fair market rent for Franklin County ($1,145).

  • 40601 $1,180$1,510

1 of these ZIP codes crosses the city line: HUD sets the rent by ZIP code, not by city. A ZIP code counts for Frankfort when at least 50% of its land is inside the city or it covers at least 15% of the city (Census 2020 boundaries). Source: Small Area Fair Market Rents (HUD) Fiscal year 2027 Small Area Fair Market Rents (HUD) Source: Census Bureau ZCTA-to-place relationship file Data from 2020 data Census Bureau ZCTA-to-place relationship file

Is your rent high for your ZIP?

Low-income apartments

Low-income apartments in Frankfort

HUD lists 18 buildings with rents for lower incomes in Frankfort. These are the largest.

  • Leestown Terrace 216 W 2nd St, Frankfort 40601 213 homes, 207 low-income · Run by Housing Authority of Frankfort · Average payment: $373 a month · Average wait: 7 months (502) 223-2148
  • Prince Hall Village Apartments 1100 Prince Hall Vlg, Frankfort 40601 100 low-income homes · For families (502) 223-3236
  • Woodside Park 1335 Louisville Rd, Frankfort 40601 97 homes, 96 low-income · For families (502) 227-7950
  • Cottages of Frankfort Cardwell Lane, Frankfort 40601 96 low-income homes · 2 bd: 86 · 3 bd: 10 · In service since 2000 · For older adults
  • Hickory Hills Manor 120 Marlowe Ct, Frankfort 40601 101 homes, 75 low-income · For families (502) 223-1177

See all 18 buildings in Franklin County Source: HUD, Retrieved November 6, 2026

Free help

Help to buy or rent in Frankfort

You do not have to do this alone. A HUD-approved housing counseling agency helps for free or at low cost: getting ready to buy, understanding your credit, or solving a problem with your rent.

We found no HUD-approved agencies with an office in Franklin County. The nearest ones are below; many serve by phone or online.

A man smiles on a bench outside his apartment building.

HUD counseling is free or low-cost

Assistance programs in Frankfort

No down payment, repair or rent-help program on our list is for Frankfort or Franklin County. The ones below are statewide in Kentucky: they work in Frankfort the same as in the rest of the state.

Which programs do I qualify for? All programs in Kentucky

  • KHC Down Payment Assistance (DPA)

    Statewide in Kentucky

    Kentucky state corporation loan of up to $12,500 for the down payment and closing costs, repaid over 15 years as a second loan, for buyers who take a KHC mortgage. Offered by Kentucky Housing Corporation (KHC).

    Repayable

    See the program Official page

Housing counselors near Frankfort

The HUD-approved agencies closest to the center of Frankfort, in a straight line, nearest first. If one says it serves in Spanish, its card says so.

  • Reach, Inc.

    733 Red Mile Rd, Lexington · 21 miles away · Spanish

    • Mortgage delinquency and default
    • Budget and financial counseling
    • and 5 more
    (859) 455-8057

  • Community Ventures Corporation

    1450 N Broadway, Lexington · 23 miles away

    • Mortgage delinquency and default
    • Budget and financial counseling
    • and 5 more
    (859) 231-0054

  • Apprisen - Lexington

    3499 Blazer Pkwy, Lexington · 27 miles away

    • Mortgage delinquency and default
    • Budget and financial counseling
    • and 2 more
    (800) 355-2227

All counseling agencies in Kentucky

Help in Spanish near Frankfort

1 of the 3 agencies on this list says it serves in Spanish.

Ask for service in Spanish

When you call, say “Spanish, please” or ask if someone speaks Spanish. If not, ask whether they offer an interpreter.

Housing authorities of Frankfort

HUD’s record names them for Frankfort or Franklin County. They run public housing or Section 8 vouchers. Ask whether their waiting list is open.

  • Housing Authority of Frankfort Public housing and Section 8 vouchers (502) 223-2148

One other authority has an office in Franklin County: see the list Source: HUD

Cities

Nearby cities

The cities closest to Frankfort, with the typical home value.

Everything about Franklin County Housing in Kentucky

Neighboring counties

If Franklin County is out of reach, look next door. Each number is that county's own.

Keep going

Guides for your next step

Short explanations, in plain language and with official sources, for buying or renting in Frankfort.

All guides
A mother and her daughters smile together on a mountain trail with a snowy peak behind them.

Questions

Housing questions about Frankfort

Short answers with the numbers for Frankfort and all of Franklin County. If your case is different, a HUD-approved counseling agency can guide you for free or at low cost.

How much does a typical home cost in Frankfort?

The typical home value in Frankfort is $183,700, according to the U.S. Census Bureau (average 2020–2024). For comparison, in Franklin County it is $216,600.

How much does it cost to rent in Frankfort?

Typical rent in Frankfort is $944 a month, according to the U.S. Census Bureau. HUD’s fair market rent for 2 bedrooms in Franklin County is $1,145.

What is the FHA loan limit in Frankfort?

Frankfort uses the FHA limit for all of Franklin County (2026): $541,287 for a one-unit home and $1,041,125 for a four-unit home.

How much property tax do owners pay in Frankfort?

The typical homeowner in Frankfort pays $1,571 a year, according to the U.S. Census Bureau. That is 0.86% of the home’s value; in Franklin County, the rate is 0.79%.

Where can I find free help to buy or rent in Frankfort?

We found no HUD-approved counseling agencies with an office in Franklin County; the nearest ones are on this page. They can help you get ready to buy, with your credit, or with rent.

Sources: American Community Survey (ACS) 5-year estimates (Average 2020–2024); FHA mortgage limits (HUD) (2026 data); Conforming loan limits (FHFA) (2026 data); Fair Market Rents (HUD) (Fiscal year 2027); Small Area Fair Market Rents (HUD) (Fiscal year 2027); Census Bureau ZCTA-to-place relationship file (2020 data); HUD-approved housing counseling agencies (Retrieved November 6, 2026); Public Housing Agencies (HUD) (Retrieved November 6, 2026); Freddie Mac Primary Mortgage Market Survey (PMMS) (As of November 5, 2026); FHFA House Price Index (HPI) (2025 data); Homes with flood insurance (NFIP, FEMA) (As of August 3, 2026).