Frankfort, NY
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating Frankfort Neighborhoods Since 2000




Frankfort, NY 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 2,507 people, 1,020 houses or apartments, and a median cost of homes of $88,907, house prices in Frankfort are some of the most affordable in New York as well as the nation.

Single-family detached homes are the single most common housing type in Frankfort, accounting for 56.40% of the village's housing units. Other types of housing that are prevalent in Frankfort include duplexes, homes converted to apartments or other small apartment buildings ( 32.35%), large apartment complexes or high rise apartments ( 8.82%), and a few row houses and other attached homes ( 2.42%).

The most prevalent building size and type in Frankfort are three and four bedroom dwellings, chiefly found in single-family detached homes. The village has a mixture of owners and renters, with 62.06% owning and 37.94% renting.

The housing in Frankfort was primarily built before 1939 ( 72.58%), 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 ( 20.24%), followed by between 1970-1999 ( 6.57%).

Vacant housing appears to be an issue in Frankfort. Fully 11.76% 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 -0.29% during the period.

Over the last year, Frankfort appreciation rates have trailed the rest of the nation. In the last twelve months, Frankfort's appreciation rate has been -6.98%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Frankfort were at -4.90%, which equates to an annual appreciation rate of -18.20%.

Notably, Frankfort's appreciation rate in the latest quarter is one of the lowest in America.

Relative to New York, our data show that Frankfort's latest annual appreciation rate is lower than 90% of the other cities and towns in New York.

Average Home Values

 

Median Home Value:
$88,907

Frankfort, NY HOME PRICES

Value Range
> $968,000 0.0
$726,001 - $968,000 0.0
$484,001 - $726,000 0.0
$387,001 - $484,000 0.0
$290,001 - $387,000 0.4
$194,001 - $290,000 3.7
$97,001 - $194,000 37.0
$49,001 - $97,000 46.4
$0 - $49,000 12.5

Very Low for NY
Very Low for Nation

Value Relative to Nation Value Relative to State
84.7796788937068 90.9090909090909

Number Of Homes And Apartments:
1,020

Frankfort Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
NY*
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
25.39% 1.32% 1 3
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$725 / per month

Homeownership Rate

Homeownership
Owners 62.06
Renters 37.94
Vacant 11.76

Housing Market Details

 

Age of Homes

AGE OF Frankfort HOMES
2000 or Newer 0.6
1970 - 1999 6.6
1940 - 1969 20.2
1939 or Older 72.6

Types of Homes

TYPE OF Frankfort HOMES
Single-Family 56.4
Townhomes 2.4
Small Apt. Buildings 32.4
Apt. Complexes 8.8
Mobile Homes 0.0
Other 0.0

Home Size

SIZE OF Frankfort HOMES
No Bedroom 0.43
1 Bedroom 15.66
2 Bedrooms 28.55
3 Bedrooms 36.94
4 Bedrooms 10.55
5 or more bedrooms 7.87