Mortgage payment estimates, closing cost breakdowns, and homebuying data for Frankfort, Kentucky.
Pre-filled with Frankfort median home price and Kentucky tax/insurance rates. Adjust for your property.
Estimated closing costs based on Kentucky rates and fees applied to Frankfort prices.
The median home price in Frankfort is $195,000, 7% below the Kentucky state median of $210,000. With a population of 28,602, Frankfort is a smaller market where home prices tend to be more accessible than in many parts of Kentucky.
Property taxes in Kentucky average 0.83% annually. This moderate property tax rate means a $195,000 home in Frankfort would carry roughly $135/month in property taxes. Homeowners insurance in Kentucky runs approximately $2,400 per year. This is within the normal range nationally.
Average rent in Frankfort is $920/month. The price-to-rent ratio in Frankfort is moderate, meaning the buy-vs-rent decision depends heavily on how long you plan to stay.
Frankfort offers strong affordability. With median prices under $250K, first-time buyers have realistic paths to homeownership, especially combined with Kentucky's KHC Regular DAP program.