Frankfort appreciation rates and housing market information

Frankfort housing market information

With a population of 27,509, 13,398 total housing units (homes and apartments), and a median house value of $146,336, Frankfort real estate is some of the most expensive in Kentucky, although Frankfort home values aren't among America's most expensive.

single-family detached homes are the single most common housing type in Frankfort, accounting for 54.07% of the city's housing units. Other types of housing that are prevalent in Frankfort include duplexes, homes converted to apartments, or other small apartment buildings (21.26%), large apartment complexes or high rise apartments (20.35%), row houses and other attached homes (2.28%), and a few mobile homes or trailers (1.94%).

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.

At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. Frankfort's housing was primarily built during this period, from the '40s through the '60s. A full 41.58% of the city's housing hails from this era. Other housing ages represented in Frankfort include homes built between 1970-1994 (37.00%), and housing constructed from 1939 and earlier (13.39%). There's also some housing in Frankfort built between 1995 and later (8.03%).

Frankfort home appreciation rates

Frankfort's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Frankfort during the period has been just 4.27%, which is lower than % of US communities.

NeighborhoodScout's data show that during the latest twelve months, Frankfort home appreciation rates, at 1.26%, have been at or slightly above the national average. In the latest quarter, Frankfort's appreciation rate has been 0.28%, which annualizes to a rate of 1.12%.

Relative to Kentucky, our data show that Frankfort's latest annual appreciation rate is higher than 22% 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 1990, to assist you in making the best Frankfort real estate investment or home purchase decisions.