Frankfort, MI—49635
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Frankfort, MI
As of Oct '25, the median home price in Frankfort, MI is $490,000, with a year-over-year change of -2.0%. This indicates that home prices in Frankfort, MI are decreasing. According to Zillow, the 1-year price projection is 3.5%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $490,000 | -2.0% |
| Single Family | $492,000 | -2.4% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | N/A | N/A |
3 Bed | $464,000 | -1.1% |
4 Bed | $637,000 | -0.8% |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Frankfort, MI
Frankfort, MI lacks sufficient rental market data for analysis.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $2,400 | $2,400 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | N/A | N/A |
| 2 Bed Rent | N/A | N/A |
| 3 Bed Rent | N/A | N/A |
| 4 Bed Rent | $2,400 | $2,400 |
% of Rental Stock
Property Listings — Frankfort, MI
As of Oct '25, Realtor.com reports that the median days on market for a home in Frankfort, MI is 65. This is a decrease of -28.0% 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 10.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $685,000 | 39.0% |
Listing Count | 42 | 93.0% |
| Listings as % of Homes | 0.2% | 93.0% |
Days on Market | 65 | -28.0% |
Demographics — Frankfort, MI
As of the latest ACS Survey released in 2023, Frankfort, MI has a population of 3,370, which has decreased by -2.5% over the past 5 years. Frankfort, MI is a less popular place for families, as children make up 13.3% of the population. The area has a highly educated workforce, with 47.4% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 13.7% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 3,370 | -2.5% |
% Under 18 | 13.3% | 16.7% |
% Seniors | 41.2% | 3.5% |
% WFH | 13.7% | 37.0% |
% w/ College Degree | 47.4% | 18.5% |
As of the latest ACS Survey released in 2023, Frankfort, MI is a predominantly white area, with 93.7% of the population identifying as white. The white population has shrunk by 3.1% in the last 5 years. The second most common race or ethnicity in Frankfort, MI is black, making up 1.5% of the population. Foreign-born residents account for 1.6% of the population in Frankfort, MI, and this percentage has increased by 45.5% 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 | 93.7% | -3.1% |
% Black | 1.5% | 400.0% |
% Hispanic | 1.1% | -35.3% |
% Asian | 0.1% | -66.7% |
% Foreign Born | 1.6% | 45.5% |
Mortgage and Risk — Frankfort, MI
According to HUD data as of 2023, there were 33 mortgage originations in Frankfort, MI, of which 82.0% of loans were conventional mortgages. The average loan-to-value was 65.0%, with 6.0% above 90% LTV (normal). This implies small mortgage risk in Frankfort, MI. Investor activity is low, as 3.0% of loans were by investors. 27.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 33 |
% Conventional Loans | 82.0% |
% Government Loans | 18.0% |
% Investor Loans | 3.0% |
% Second Loans | 42.0% |
% Cash Out Refinance | 27.0% |
Loan Activity
Rentals and Section 8 — Frankfort, MI
Frankfort, MI lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 65 |
Total Units Section 8 | 64 |
% Rentals under Section 8 | N/A |
% Occupied Section 8 | 90.4% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | N/A | N/A | $790 |
| 2 Bedroom | N/A | N/A | $1,040 |
| 3 Bedroom | N/A | N/A | $1,250 |
| 4 Bedroom | -$1,000 | $2,400 | $1,400 |
Affordability — Frankfort, MI
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 6.1 |
| Median Home Price | $490,000 |
| Median Household Income | $71,900 |