Frankfort, KY
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
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Highest Appreciating Frankfort Neighborhoods Since 2000




Frankfort, KY 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 a population of 27,830, 12,105 total housing units (homes and apartments), and a median house value of $157,467, Frankfort real estate and house prices are near the national average for all cities and towns.

Single-family detached homes are the single most common housing type in Frankfort, accounting for 54.21% of the city's housing units. Other types of housing that are prevalent in Frankfort include large apartment complexes or high rise apartments ( 22.17%), duplexes, homes converted to apartments or other small apartment buildings ( 20.38%), and a few row houses and other attached homes ( 1.91%).

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 40.28% of the city's housing hails from this era. Other housing ages represented in Frankfort include homes built between 1970-1999 ( 38.49%) and housing constructed before 1939 ( 12.01%). There's also some housing in Frankfort built between 2000 and later ( 9.23%).

Vacant housing appears to be an issue in Frankfort. Fully 12.56% 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 -0.10% during the period.

NeighborhoodScout's data show that during the latest twelve months, Frankfort's appreciation rate, at 4.78%, has been at or slightly above the national average. In the latest quarter, Frankfort's appreciation rate has been 0.56%, which annualizes to a rate of 2.24%.

Relative to Kentucky, our data show that Frankfort's latest annual appreciation rate is higher than 60% 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 2000, to assist you in making the best Frankfort real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$157,467

Frankfort, KY HOME PRICES

Value Range
> $1,073,000 0.7
$805,001 - $1,073,000 0.1
$537,001 - $805,000 0.6
$429,001 - $537,000 1.3
$322,001 - $429,000 2.8
$215,001 - $322,000 10.2
$108,001 - $215,000 59.1
$54,001 - $108,000 18.9
$0 - $54,000 6.5

Very High for KY
Average for Nation

Value Relative to Nation Value Relative to State
46.794796671745 19.2982456140351

Number Of Homes And Apartments:
12,105

Frankfort Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
KY*
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
24.38% 1.27% 3 3
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$866 / per month

Homeownership Rate

Homeownership
Owners 47.21
Renters 52.79
Vacant 12.56

Housing Market Details

 

Age of Homes

AGE OF Frankfort HOMES
2000 or Newer 9.2
1970 - 1999 38.5
1940 - 1969 40.3
1939 or Older 12.0

Types of Homes

TYPE OF Frankfort HOMES
Single-Family 54.2
Townhomes 1.9
Small Apt. Buildings 20.4
Apt. Complexes 22.2
Mobile Homes 1.2
Other 0.1

Home Size

SIZE OF Frankfort HOMES
No Bedroom 1.65
1 Bedroom 18.35
2 Bedrooms 30.51
3 Bedrooms 39.34
4 Bedrooms 8.05
5 or more bedrooms 2.09