salaryRent is lower than in 88% of U.S. cities. A typical house costs under 3 years of household income, which is easy by U.S. standards. Commutes are short, about 18.6 minutes.
How much money do I need?
To rent here comfortably, you should earn about $40,120 a year. That is $19 an hour at a full-time job.
Is rent cheaper than other Indiana cities?
Yes. Rent here is cheaper than in most of Indiana. It is number 35 of 132 cities from cheapest to most expensive.
How much do households earn in Frankfort?
Share of households by yearly income. 10.8% of households earn $100,000 or more.
Rent by apartment size in Frankfort
| Size | Frankfort | U.S. average |
|---|---|---|
| Studio | $846 | $1,338 |
| 1 bedroom | $804 | $1,324 |
| 2 bedrooms | $985 | $1,509 |
| 3 bedrooms | $1,223 | $1,698 |
| 4 bedrooms | $1,348 | $2,098 |
Median monthly rent plus utilities for all renters, by number of bedrooms.
How expensive is Frankfort overall?
Everyday prices in Indiana overall are 7% below the U.S. average (index 93.3, U.S. = 100).
Source: U.S. Bureau of Economic Analysis, Regional Price Parities 2024. City-level data is not published for Frankfort, so the Indiana figure is shown.
Taxes and bills in Frankfort
Life in Frankfort
Is it cheaper to rent or buy in Frankfort?
About the same. Renting and owning cost within $41 of each other each month.
Owning assumes a typical $138,600 home, 10% down, a 30-year loan at 6.5% and about 1.5% a year for taxes and insurance. You would also need $13,860 for the down payment.
Frequently asked questions
What is the average rent in Frankfort, IN?
Renting in Frankfort costs a median of about $1,003 a month in 2026, including utilities. The Indiana median is $1,219.
How much do I need to make to live in Frankfort?
To keep rent under 30% of income, you need about $40,120 a year, or $19 an hour at a full-time job.
Is Frankfort cheap or expensive?
Frankfort is rated Cheap: rent takes 19.4% of the typical household income of $61,919. It ranks 35th cheapest of 132 Indiana cities we track.
How much are property taxes in Frankfort?
The median homeowner in Frankfort pays $958 a year in property taxes, about 0.69% of the median home value.
Is Frankfort more expensive than the national average?
Overall prices in Indiana are 7% below the U.S. average, according to the U.S. Bureau of Economic Analysis.
How much does a house cost in Frankfort?
The median home value in Frankfort is $138,600, about 2.2 times the typical yearly household income.
15,917 people live in Frankfort. Numbers are typical (middle) values.