Living in Frankfort, Indiana
Cost of living, income, home prices, rent and demographics of Frankfort · Census data 2020–2024
Frankfort has 15,917 residents with a median age of 33.2. The median household income is $57,412 (20% lower than the Indiana median), the median home value is $138,600, the median rent is $898/month.
Frankfort at a glance
- Population
- 15,917
- Median age
- 33.2State: 38.1
- Median household income
- $57,412State: $71,957
- Median home value
- $138,600State: $218,200
- Median rent
- $898/moState: $1,062
- Homeowners
- 60.2%
- Bachelor's degree or higher
- 11.5%
- Average commute
- 19 min
Is Frankfort a good place to live?
Pros: Home values 36% lower than the state median; an average commute of 19 minutes; unemployment of 3%.
Cons: Median household income 20% lower than the Indiana median; a poverty rate of 12.9%.
The weather is best in June to September.
Cost of living in Frankfort
Housing is the biggest part of the cost of living. In Frankfort the median home value is $138,600, 58% lower than the U.S. median. Renters pay a median of $898 per month, which is 25.8% of household income. Homeowners with a mortgage pay $1,084 a month in housing costs.
Frankfort median household income
The median household income in Frankfort is $57,412 and the income per person is $26,208. 12.9% of residents live below the poverty line (Indiana: 12.3%).
Housing in Frankfort: homes for sale and rent
- Housing units
- 6,601
- Owner-occupied
- 60.2%
- Renter-occupied
- 39.8%
- Vacant
- 9.1%Includes seasonal homes
- Median year built
- 1952
- Average household size
- 2.59
Frankfort demographics
- Population
- 15,917
- Median age
- 33.2
- Under 18
- 28%
- 65 and older
- 13%
- Households
- 6,002
- Foreign-born
- 16.8%
- Veterans
- 5%Adults 18+
Hispanic or Latino can be of any race. Population history of Frankfort ›
Education in Frankfort
11.5% of adults 25 and older in Frankfort have a bachelor's degree or higher (Indiana: 29.5%), and 3.5% have a graduate or professional degree.
Jobs and commute in Frankfort
- Unemployment rate
- 3%State: 4.3%
- Average commute
- 19 minState: 24 min
- Work from home
- 4.1%
- Drive alone
- 82.3%
- Public transit
- 0.1%
- Walk to work
- 0.7%
- Homes with broadband
- 89.7%
Frankfort vs nearby towns
| Town | Population | Median income | Home value | Rent |
|---|---|---|---|---|
| Frankfort | 15,917 | $57,412 | $138,600 | $898 |
| Antioch | 129 | $115,938 | $217,200 | — |
| Mulberry | 1,265 | $58,950 | $142,900 | $781 |
| Michigantown | 514 | $74,375 | $147,200 | $844 |
| Colfax | 906 | $63,281 | $130,100 | $733 |
| Clarks Hill | 700 | $46,806 | $93,600 | $649 |
| Rossville | 1,565 | $71,473 | $186,800 | $1,020 |
| Hillisburg | 194 | $67,734 | $164,800 | — |
| Thorntown | 1,212 | $73,750 | $193,800 | $928 |
More for people moving to Frankfort
Frankfort ZIP code ›Weather and climate ›Living in Frankfort: FAQ
What is the median household income in Frankfort, IN?
The median household income in Frankfort is $57,412, 20% lower than the Indiana median of $71,957 (U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024).
What is the average home price in Frankfort?
The median home value in Frankfort is $138,600, compared with $218,200 in Indiana.
How much is rent in Frankfort?
The median gross rent in Frankfort is $898 per month, about 25.8% of household income.
Is Frankfort, IN a good place to live?
Pluses: home values 36% lower than the state median; an average commute of 19 minutes; unemployment of 3%. Minuses: median household income 20% lower than the Indiana median; a poverty rate of 12.9%.
What is the median age in Frankfort?
The median age in Frankfort is 33.2 years (Indiana: 38.1).
How long is the commute in Frankfort?
The average commute to work in Frankfort is 19 minutes; 4.1% of workers work from home.
What is the unemployment rate in Frankfort?
The unemployment rate in Frankfort is 3% (U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024).
How educated is Frankfort?
11.5% of adults in Frankfort have a bachelor's degree or higher.
Source: U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024 (margins of error apply, especially in small towns). Figures are in 2024 dollars.
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