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These days, finding an affordable place to live in the Frankfort area can be challenging. Home prices in Frankfort are now at a median cost of $172,965, lower than the Alabama average of $228,911.
The average cost of rent is $702/mo in Frankfort, primarily driven by the current value of real estate in the Frankfort area. In Frankfort, 8.16% of households rent, and 71.13% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Frankfort is $5,998 per month. Households that rent pay about 11.71% of their income on rent here. Frankfort’s most expensive areas are in the northern regions, while the cheapest areas are in the northwestern parts of the city.
Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.
Nearby Cities
- Jonesboro, AL: less expensive homes
- Crooked Oak, AL: equally priced homes
- Reedtown, AL: less expensive homes
- Dempsey, AL: equally priced homes
- Red Rock, AL: higher priced homes
- Russellville, AL: less expensive homes
- Gravel Hill, AL: less expensive homes
- Pleasant Site, AL: equally priced homes
- Old Nauvoo, AL: higher priced homes
- Rockwood, AL: higher priced homes
Cities with Similar Populations
- Schuyler Lake, NY: higher priced homes
- Longtown, MO: equally priced homes
- Longwoods, MD: higher priced homes
- Magley, IN: higher priced homes
- Russ, MO: equally priced homes
- Sandy Ridge, AL: less expensive homes
- Saxton, KY: less expensive homes
- Scandia, PA: equally priced homes
- Scarboro, MD: higher priced homes
- Schultzville, PA: higher priced homes
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