Frankfort, KY
Population 28,452 · Kentucky
About Frankfort, KY
Frankfort is a mid-sized city located in Kentucky with a population of 28,452 residents according to the latest US Census Bureau American Community Survey data. The median household income is $54,438 per year, which is 28% below the national median of $75,149. The median age of 34.7 years is notably younger the US median age of 38.9 years, indicating a younger, often more dynamic population base.
Housing Market Overview
The housing market in Frankfort features a median home value of $171,600, which is 30% below the national median of $244,900. This positions Frankfort in a moderately priced market relative to the rest of the country. Median monthly rent is $935, 20% below the national average of $1,163/month. Of the 13,714 total housing units, 48% are owner-occupied (6,130 units) and 52% are renter-occupied (6,633 units). The higher proportion of renters may reflect a transient population, younger demographics, or high housing costs relative to income.
Economy & Employment
The local economy in Frankfort shows an unemployment rate of 7.2%, which is significantly above the national rate of 3.7%, suggesting economic challenges in the area. The poverty rate stands at 18.7%, above the national average of 12.4%. Workers in Frankfort have an average one-way commute time of 17.6 minutes, one of the shorter commutes in the region.
Education & Demographics
27.9% of Frankfort residents aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. This is in line with national trends in educational attainment. The community's demographic composition includes 2.1% White, 1.4% Hispanic or Latino, 0.4% Black or African American, and 3.5% Asian residents, with 6.5% of the population being foreign-born.
How Frankfort Ranks in Kentucky
Cost of Living in Frankfort, KY
Compared to national averages, Frankfort has a median household income of $54,438 (28% below the national median of $75,149). Home values average $171,600, which is 30% below the national median. Monthly rent at $935 is 20% below the US average of $1,163. Within Kentucky, Frankfort's income is 18% below the state average of $66,273, and home values are 6% below the state median of $182,504.
Why Live in Frankfort, KY?
Frankfort offers affordable housing with a median home value of $171,600, below the US average of $244,900, and rent that’s lower than the national average at $935/month, and short commute times averaging just 17.6 minutes.
Potential considerations include median household income ($54,438) that falls below the national average. However, Frankfort’s smaller community size offers a quieter lifestyle and tight-knit neighborhoods.
Frankfort has a population of 28,452 with a median age of 34.7 years. Compare Frankfort with other cities to see how it stacks up, or explore all cities in Kentucky.
Similar Cities Near Frankfort
Cities in Kentucky with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Henderson | 27,994 | $47,176 | $151,400 | Compare |
| Jeffersontown | 28,988 | $78,185 | $236,800 | Compare |
| Independence | 29,024 | $98,653 | $240,500 | Compare |
| Paducah | 26,894 | $51,243 | $164,600 | Compare |
| Hopkinsville | 31,011 | $47,428 | $140,200 | Compare |
| Nicholasville | 31,625 | $67,514 | $210,700 | Compare |
| Elizabethtown | 31,870 | $56,250 | $223,200 | Compare |
| Florence | 32,334 | $68,508 | $196,200 | Compare |
Demographics
Racial & Ethnic Composition
Economy & Education
Housing
Other Cities in Kentucky
Data source: US Census Bureau ACS 5-Year Estimates. Last updated: 2026-04-05.
Compare Frankfort With Other Cities
Frequently Asked Questions about Frankfort
What is the population of Frankfort, KY?
The population of Frankfort, KY is 28,452 according to the latest US Census Bureau American Community Survey estimates. This makes it a mid-sized city in Kentucky.
What is the median household income in Frankfort?
The median household income in Frankfort, KY is $54,438 per year, which is 28% below the national median of $75,149.
What is the median home value in Frankfort?
The median home value in Frankfort, KY is $171,600, which is 30% below the national median of $244,900. A significant portion of residents rent their homes.
What is the average rent in Frankfort?
The median monthly rent in Frankfort, KY is $935, which is 20% below the national average of $1,163/month.
What is the unemployment rate in Frankfort?
The unemployment rate in Frankfort, KY is 7.2%, compared to the national average of 3.7%. Job seekers may want to research the dominant industries in the area.
Is Frankfort, KY a good place to live?
Frankfort offers a moderate cost of living, affordable housing, and growing employment opportunities. With a population of 28,452 and a median age of 34.7, the city appeals to young professionals and families.
How educated is Frankfort, KY?
27.9% of residents in Frankfort aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. The educational profile reflects the area's industry mix and employment landscape.
What is the cost of living in Frankfort?
Key cost-of-living indicators for Frankfort, KY: median home value is $171,600 (30% below national), median rent is $935/month, and median household income is $54,438. The home-value-to-income ratio is 3.2x, indicating relatively affordable housing relative to local incomes.
What is the poverty rate in Frankfort?
The poverty rate in Frankfort, KY is 18.7%, compared to the national average of 12.4%. Residents and prospective movers should be aware of the economic challenges facing parts of this community.
How diverse is Frankfort, KY?
Frankfort's population is 2.1% White, 1.4% Hispanic or Latino, 0.4% Black or African American, 3.5% Asian, and 13.9% two or more races. 6.5% of residents are foreign-born.