Frankfort, IN
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating Frankfort Neighborhoods Since 2000




Frankfort, IN Real Estate Data

Source & Methodology

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.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q1 2017. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2015 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

Frankfort Housing Market Information

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.

Frankfort Home Appreciation Rates

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.

Average Home Values

 

Median Home Value:
$70,277

Frankfort, IN HOME PRICES

Value Range
> $1,059,000 0.0
$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

Very Low for IN
Very Low for Nation

Value Relative to Nation Value Relative to State
95.1482479784367 96.8325791855204

Number Of Homes And Apartments:
5,694

Frankfort Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
IN*
Compared To
America*
Latest Quarter:
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
Since 2000:
2000 Q1 - 2017 Q1
-2.85% -0.17% 1 1
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$793 / per month

Homeownership Rate

Homeownership
Owners 58.98
Renters 41.02
Vacant 13.83

Housing Market Details

 

Age of Homes

AGE OF Frankfort HOMES
2000 or Newer 3.6
1970 - 1999 27.7
1940 - 1969 32.5
1939 or Older 36.1

Types of Homes

TYPE OF Frankfort HOMES
Single-Family 74.6
Townhomes 3.1
Small Apt. Buildings 8.5
Apt. Complexes 11.6
Mobile Homes 2.2
Other 0.0

Home Size

SIZE OF Frankfort HOMES
No Bedroom 1.47
1 Bedroom 11.38
2 Bedrooms 33.34
3 Bedrooms 35.73
4 Bedrooms 15.07
5 or more bedrooms 3.01

Zip Codes in Frankfort, IN