The Most Affordable Neighborhoods in Frankfort, KY by Home Value

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 $210,769, lower than the Kentucky average of $219,615.

The average cost of rent is $1,013/mo in Frankfort, primarily driven by the current value of real estate in the Frankfort area. In Frankfort, 36.55% of households rent, and 38.30% of homeowners own their homes outright.

Housing affordability isn’t just about home prices, though. The average household income in Frankfort is $5,825 per month. Households that rent pay about 17.39% of their income on rent here. Frankfort’s most expensive areas are in the southeastern regions, while the cheapest areas are in the central parts of the city.

Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.

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