Cost of Living in Frankfort, KY
Population 28,452 · Kentucky · Data vintage 2023
(100 = US avg)
The Frankfort cost-of-living profile is closer to the US median than most headline-grabbing metros — typical homes around $172,000, rents near $935 a month. Unemployment has stayed elevated relative to the national figure — 7.2% as of the most recent ACS release — which shows up in household-income and poverty figures as well.
Frankfort is about 25 miles west of Lexington-Fayette urban county, the nearest large metro — close enough that regional housing and labor patterns are shaped largely by the larger market. Median home values run roughly 37% lower than Lexington-Fayette urban county's $272,000.
Cost Overview
Scale: 100 = US national average. Green < 90, Red > 110.
About the Cost of Living in Frankfort
The median home value in Frankfort is $171,600 — 44% below the national median of $305,000. Median rent runs $935/month, 29% lower than the national median of $1,314/month. The median household income of $54,438/year is 27% lower than the US median of $74,580. The local unemployment rate is 7.2%, above the national average of 4.8%. Kentucky's top state income tax rate is 4.0% and the combined sales tax is 6.0%. Overall, Frankfort has a cost of living index of 62 versus the US average of 100, meaning it is 38% less expensive.
🏠 Housing
HUD Fair Market Rents by Bedroom
💰 Estimated Monthly Budget
Estimates based on median data and national averages. Actual costs vary.
🛒 Food & Groceries
National BLS average prices (2023). Local prices may vary.
🚗 Transportation
Commute Mode
⚡ Utilities
📋 Taxes
💼 Income & Employment
🎓 Education
👥 Demographics
🏫 Schools
NCES CCD 2019 — public school district data
Frequently Asked Questions
What is the cost of living in Frankfort, KY?
Frankfort has a cost index of 62 (100 = national average). It is 38% below the national average.
What is average rent in Frankfort, KY?
The median gross rent in Frankfort is $935 per month based on 2023 Census data.
What is the average home price in Frankfort?
The median home value in Frankfort is $171,600 according to Zillow and Census data.
What is the median income in Frankfort?
The median household income in Frankfort is $54,438 per year (2023 ACS 5-year estimates).
What is the sales tax in Frankfort, KY?
The combined state and local sales tax rate in Frankfort is 6.0%. The Kentucky state income tax top rate is 4.0%.
Is Frankfort, KY affordable?
Yes, Frankfort is generally considered affordable, with a cost of living index of 62 — about 38% below the US national average of 100.
Frankfort at a Glance
- Population
- 28,452
- Median Income
- $54,438
- Home Value
- $171,600
- Median Rent
- $935/mo
- Unemployment
- 7.2%
- Sales Tax
- 6.0%
Nearby Cities
Explore county-level cost of living data
Kentucky Rankings
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