Frankfort, IN—46041
Real Estate Data & Market Trends
Key Metrics at a Glance
Other Zip Codes in Frankfort, IN
Home Price Trends — Frankfort, IN
As of Oct '25, the median home price in Frankfort, IN is $201,000, with a year-over-year change of 3.5%. This indicates that home prices in Frankfort, IN are increasing. According to Zillow, the 1-year price projection is 3.1%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $201,000 | 3.5% |
| Single Family | $200,000 | 3.1% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $110,000 | 0.9% |
2 Bed | $149,000 | 3.5% |
3 Bed | $214,000 | 2.9% |
4 Bed | $258,000 | 2.8% |
| 5 Bed | $277,000 | 3.7% |
% of Housing Stock
Rental Trends — Frankfort, IN
As of July '25, Rentcast reports the average rent in Frankfort, IN is $874, with a year-over-year rent change of 21.2%. Per bedroom, the median rent as of July '25 in Frankfort, IN is 1-bedrooms: $754, 2-bedrooms: $1,040. The most common rental property sizes in Frankfort, IN are 2-bedroom and 1-bedroom, accounting for 42.1% and 23.6% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $725 | $874 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $725 | $754 |
| 2 Bed Rent | $825 | $1,040 |
| 3 Bed Rent | N/A | N/A |
| 4 Bed Rent | N/A | N/A |
% of Rental Stock
Property Listings — Frankfort, IN
As of Oct '25, Realtor.com reports that the median days on market for a home in Frankfort, IN is 51. This is a decrease of -7.0% from last year, suggesting that homes are sitting on the market shorter than last year. The percentage of listed homes with a reduced price is 44.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $279,000 | 8.0% |
Listing Count | 78 | 27.0% |
| Listings as % of Homes | 0.3% | 27.0% |
Days on Market | 51 | -7.0% |
Demographics — Frankfort, IN
As of the latest ACS Survey released in 2023, Frankfort, IN has a population of 23,400, which has increased by 3.1% over the past 5 years. Frankfort, IN is a popular place for families, as children make up 26.0% of the population. The area has a poorly educated workforce, with 16.6% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 4.7% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 23,400 | 3.1% |
% Under 18 | 26.0% | -2.3% |
% Seniors | 16.3% | 11.6% |
% WFH | 4.7% | 46.9% |
% w/ College Degree | 16.6% | 5.1% |
As of the latest ACS Survey released in 2023, Frankfort, IN is a predominantly white area, with 72.7% of the population identifying as white. The white population has shrunk by 5.1% in the last 5 years. The second most common race or ethnicity in Frankfort, IN is hispanic, making up 24.3% of the population. Foreign-born residents account for 11.4% of the population in Frankfort, IN, and this percentage has increased by 20.0% 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 | 72.7% | -5.1% |
% Black | 0.7% | -50.0% |
% Hispanic | 24.3% | 13.6% |
% Asian | 0.5% | 66.7% |
% Foreign Born | 11.4% | 20.0% |
Mortgage and Risk — Frankfort, IN
According to HUD data as of 2023, there were 546 mortgage originations in Frankfort, IN, of which 78.0% of loans were conventional mortgages. The average loan-to-value was 67.0%, with 28.0% above 90% LTV (very high). This implies large mortgage risk in Frankfort, IN. Investor activity is low, as 3.0% of loans were by investors. 16.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 546 |
% Conventional Loans | 78.0% |
% Government Loans | 22.0% |
% Investor Loans | 3.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 16.0% |
Loan Activity
Rentals and Section 8 — Frankfort, IN
Frankfort, IN lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 118 |
Total Units Section 8 | 118 |
% Rentals under Section 8 | 4.9% |
% Occupied Section 8 | 91.2% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $315 | $725 | $1,040 |
| 2 Bedroom | $395 | $825 | $1,220 |
| 3 Bedroom | N/A | N/A | $1,590 |
| 4 Bedroom | N/A | N/A | $1,920 |
Affordability — Frankfort, IN
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 2.8 |
| Median Home Price | $201,000 |
| Median Household Income | $60,700 |