Living in Frankfort, Michigan
Cost of living, income, home prices, rent and demographics of Frankfort · Census data 2020–2024
Frankfort has 1,225 residents with a median age of 62.3. The median household income is $54,327 (25% lower than the Michigan median), the median home value is $350,000, the median rent is $876/month.
Frankfort is a small town, so Census survey estimates have wide margins of error. Treat percentages as approximate.
Frankfort at a glance
- Population
- 1,225
- Median age
- 62.3State: 40.2
- Median household income
- $54,327State: $72,875
- Median home value
- $350,000State: $231,600
- Median rent
- $876/moState: $1,129
- Homeowners
- 64.1%
- Bachelor's degree or higher
- 39.7%
- Average commute
- 19 min
Is Frankfort a good place to live?
Pros: An average commute of 19 minutes; a poverty rate of 12.3%.
Cons: Median household income 25% lower than the Michigan median; home values 51% higher than the state median; unemployment of 6.7%.
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 $350,000, 5% higher than the U.S. median. Renters pay a median of $876 per month, which is 30.8% of household income. Homeowners with a mortgage pay $1,698 a month in housing costs.
Frankfort median household income
The median household income in Frankfort is $54,327 and the income per person is $40,366. 12.3% of residents live below the poverty line (Michigan: 13.2%).
Housing in Frankfort: homes for sale and rent
- Housing units
- 917
- Owner-occupied
- 64.1%
- Renter-occupied
- 35.9%
- Vacant
- 37.9%Includes seasonal homes
- Median year built
- 1966
- Average household size
- 1.93
37.9% of homes are vacant most of the year, a sign that Frankfort has many vacation and second homes.
Frankfort demographics
- Population
- 1,225
- Median age
- 62.3
- Under 18
- 13.9%
- 65 and older
- 44.2%
- Households
- 569
- Foreign-born
- 1.9%
- Veterans
- 11.4%Adults 18+
Hispanic or Latino can be of any race. Population history of Frankfort ›
Education in Frankfort
39.7% of adults 25 and older in Frankfort have a bachelor's degree or higher (Michigan: 32.4%), and 21.7% have a graduate or professional degree.
Jobs and commute in Frankfort
- Unemployment rate
- 6.7%State: 5.7%
- Average commute
- 19 minState: 24 min
- Work from home
- 10.8%
- Drive alone
- 68.8%
- Public transit
- 0.3%
- Walk to work
- 8.3%
- Homes with broadband
- 92.3%
Frankfort vs nearby towns
| Town | Population | Median income | Home value | Rent |
|---|---|---|---|---|
| Frankfort | 1,225 | $54,327 | $350,000 | $876 |
| Elberta | 174 | $114,375 | $267,600 | — |
| Beulah | 218 | $71,000 | $485,700 | $607 |
| Benzonia | 718 | $61,875 | $209,100 | $1,125 |
| Arcadia | 120 | $85,694 | $262,500 | — |
| Honor | 172 | $45,341 | $223,800 | — |
| Crystal Mountain | 166 | $120,938 | $547,400 | — |
| Empire | 341 | $83,929 | $456,300 | — |
| Bear Lake | 264 | $63,281 | $155,400 | — |
More for people moving to Frankfort
Frankfort ZIP code ›Weather and climate ›Living in Frankfort: FAQ
What is the median household income in Frankfort, MI?
The median household income in Frankfort is $54,327, 25% lower than the Michigan median of $72,875 (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 $350,000, compared with $231,600 in Michigan.
How much is rent in Frankfort?
The median gross rent in Frankfort is $876 per month, about 30.8% of household income.
Is Frankfort, MI a good place to live?
Pluses: an average commute of 19 minutes; a poverty rate of 12.3%. Minuses: median household income 25% lower than the Michigan median; home values 51% higher than the state median; unemployment of 6.7%.
What is the median age in Frankfort?
The median age in Frankfort is 62.3 years (Michigan: 40.2).
How long is the commute in Frankfort?
The average commute to work in Frankfort is 19 minutes; 10.8% of workers work from home.
What is the unemployment rate in Frankfort?
The unemployment rate in Frankfort is 6.7% (U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024).
How educated is Frankfort?
39.7% 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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