Frankfort, KY—40601
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Frankfort, KY
As of Oct '25, the median home price in Frankfort, KY is $242,000, with a year-over-year change of 7.6%. This indicates that home prices in Frankfort, KY are increasing. According to Zillow, the 1-year price projection is 1.9%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $242,000 | 7.6% |
| Single Family | $243,000 | 7.0% |
| Condos | $185,000 | 1.1% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $101,000 | 1.0% |
2 Bed | $180,000 | 6.5% |
3 Bed | $245,000 | 6.5% |
4 Bed | $323,000 | 5.6% |
| 5 Bed | $396,000 | 3.4% |
% of Housing Stock
Rental Trends — Frankfort, KY
As of July '25, Rentcast reports the average rent in Frankfort, KY is $1,270, with a year-over-year rent change of 12.4%. Per bedroom, the median rent as of July '25 in Frankfort, KY is studios: $695, 1-bedrooms: $784, 2-bedrooms: $1,230, 3-bedrooms: $1,870. The most common rental property sizes in Frankfort, KY are 2-bedroom and 1-bedroom, accounting for 50.7% and 21.3% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $975 | $1,270 |
| Studio Rent | $695 | $695 |
| 1 Bed Rent | $750 | $784 |
| 2 Bed Rent | $975 | $1,230 |
| 3 Bed Rent | $2,000 | $1,870 |
| 4 Bed Rent | N/A | N/A |
% of Rental Stock
Property Listings — Frankfort, KY
As of Oct '25, Realtor.com reports that the median days on market for a home in Frankfort, KY is 50. This is a increase of 2.0% from last year, suggesting that homes are sitting on the market longer than last year. The percentage of listed homes with a reduced price is 42.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $291,000 | -7.0% |
Listing Count | 222 | 14.0% |
| Listings as % of Homes | 0.6% | 14.0% |
Days on Market | 50 | 2.0% |
Demographics — Frankfort, KY
As of the latest ACS Survey released in 2023, Frankfort, KY has a population of 51,600, which has increased by 1.1% over the past 5 years. Frankfort, KY is a moderately popular place for families, as children make up 20.9% of the population. The area has a moderately educated workforce, with 31.6% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 13.2% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 51,600 | 1.1% |
% Under 18 | 20.9% | 0.0% |
% Seniors | 18.8% | 11.2% |
% WFH | 13.2% | 388.9% |
% w/ College Degree | 31.6% | 6.4% |
As of the latest ACS Survey released in 2023, Frankfort, KY is a predominantly white area, with 80.8% of the population identifying as white. The white population has shrunk by 1.3% in the last 5 years. The second most common race or ethnicity in Frankfort, KY is black, making up 9.3% of the population. Foreign-born residents account for 4.5% of the population in Frankfort, KY, and this percentage has increased by 15.4% as of the ACS Survey 5 years prior, suggesting more immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 80.8% | -1.3% |
% Black | 9.3% | 0.0% |
% Hispanic | 4.1% | 24.2% |
% Asian | 1.9% | 5.6% |
% Foreign Born | 4.5% | 15.4% |
Mortgage and Risk — Frankfort, KY
According to HUD data as of 2023, there were 1018 mortgage originations in Frankfort, KY, of which 74.0% of loans were conventional mortgages. The average loan-to-value was 59.0%, with 27.0% above 90% LTV (very high). This implies large mortgage risk in Frankfort, KY. Investor activity is low, as 2.0% of loans were by investors. 12.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 1,018 |
% Conventional Loans | 74.0% |
% Government Loans | 26.0% |
% Investor Loans | 2.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 12.0% |
Loan Activity
Rentals and Section 8 — Frankfort, KY
Frankfort, KY lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 1,132 |
Total Units Section 8 | 913 |
% Rentals under Section 8 | 11.4% |
% Occupied Section 8 | 92.4% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $220 | $750 | $970 |
| 2 Bedroom | $205 | $975 | $1,180 |
| 3 Bedroom | -$460 | $2,000 | $1,540 |
| 4 Bedroom | N/A | N/A | $1,760 |
Affordability — Frankfort, KY
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3 |
| Median Home Price | $242,000 |
| Median Household Income | $67,100 |