Quick facts: Frankfort, KY

Quick Facts

99.8
Cost of Living
below US average
28,391
Population
21.8
Crime Rate per 1000
below US average
$53,905
Median Income
below US average
$279,900
Median House Price
above US average
$1251.38
Average Rent
below US average
12%
Poverty Rate
above US average
4.5%
Unemployment Rate
above US average

πŸ’΅ Affordability Calculator

Based on the 28/36 rule: housing costs should not exceed 28% of your gross income. Compared against local median income of $53,905.

🏠

Income Needed to Buy

βœ— Stretch
$88k/year
Based on $279,900 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $88k vs median $53,905
🏒

Income Needed to Rent

βœ“ Affordable
$54k/year
Based on $1251.38/month average rent
Annual income where rent = 28% of gross
πŸ“Š Median income ($53,905) exceeds requirement
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Frankfort, KY

Frankfort, located in the heart of Kentucky, serves as the state capital and is nestled along the banks of the Kentucky River. Known for its rich history, Frankfort is home to numerous historical landmarks and government buildings, including the impressive Kentucky State Capitol, which showcases stunning architecture and beautiful grounds. The city offers a unique blend of small-town charm and governmental significance, with a population of about 27,000 residents. Visitors can explore the Kentucky History Center and the Frankfort Cemetery, which is the final resting place of several notable figures, including Daniel Boone. Frankfort also boasts outdoor recreational opportunities with parks like Cove Springs Park and the expansive Salato Wildlife Education Center, where citizens and tourists can learn about local wildlife and conservation efforts. Additionally, the city's thriving arts scene and local events, such as the Capital City Farmers Market, highlight the community's commitment to arts and local produce. Overall, Frankfort is a vibrant city with a deep-rooted history and a welcoming atmosphere, making it a unique destination in the Bluegrass State.

πŸ” Search & Compare Places

First Location πŸ“