Analytics built by: Location, Inc.
Raw data sources: American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more
With 16,060 people, 5,694 houses or apartments, and a median cost of homes of $70,277, house prices in Frankfort are some of the most affordable in Indiana as well as the nation.
Single-family detached homes are the single most common housing type in Frankfort, accounting for 74.61% of the city's housing units. Other types of housing that are prevalent in Frankfort include large apartment complexes or high rise apartments ( 11.62%), duplexes, homes converted to apartments or other small apartment buildings ( 8.46%), and a few row houses and other attached homes ( 3.09%).
The most prevalent building size and type in Frankfort are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 58.98% owning and 41.02% renting.
The housing in Frankfort was primarily built before 1939 ( 36.12%), making the housing stock in Frankfort some of the oldest overall in America, although there is a range of ages of homes in Frankfort. The next most important housing age is between 1940-1969 ( 32.52%), followed by between 1970-1999 ( 27.72%). There's also some housing in Frankfort built between 2000 and later ( 3.63%).
Vacant housing appears to be an issue in Frankfort. Fully 13.83% of the housing stock is classified as vacant. Left unchecked, vacant Frankfort homes and apartments can be a drag on the real estate market, holding Frankfort real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.
Real estate appreciation rates in Frankfort's have tracked to near the national average over the last then years, with the annual appreciation rate averaging -0.17% during the period.
NeighborhoodScout's data show that during the latest twelve months, Frankfort's appreciation rate, at 3.81%, has been at or slightly above the national average. In the latest quarter, Frankfort's appreciation rate has been -1.14%, which annualizes to a rate of -4.49%.
Notably, Frankfort's appreciation rate in the latest quarter is one of the lowest in America.
Relative to Indiana, our data show that Frankfort's latest annual appreciation rate is higher than 60% of the other cities and towns in Indiana.
|$795,001 - $1,059,000||0.0|
|$530,001 - $795,000||0.1|
|$424,001 - $530,000||0.3|
|$318,001 - $424,000||0.5|
|$212,001 - $318,000||2.1|
|$106,001 - $212,000||23.4|
|$53,001 - $106,000||56.4|
|$0 - $53,000||17.1|
|Value Relative to Nation||Value Relative to State|
|Time Period||Total Appreciation||Avg. Annual Rate||
2016 Q4 - 2017 Q1
Last 12 Months:
2016 Q1 - 2017 Q1
Last 2 Years:
2015 Q1 - 2017 Q1
Last 5 Years:
2012 Q1 - 2017 Q1
Last 10 Years:
2007 Q1 - 2017 Q1
2000 Q1 - 2017 Q1
|* 10 is highest|
|AGE OF Frankfort HOMES|
|2000 or Newer||3.6|
|1970 - 1999||27.7|
|1940 - 1969||32.5|
|1939 or Older||36.1|
|TYPE OF Frankfort HOMES|
|Small Apt. Buildings||8.5|
|SIZE OF Frankfort HOMES|
|5 or more bedrooms||3.01|