Frankfort, MI
Population 1,158 · Michigan
About Frankfort, MI
Frankfort is a small town located in Michigan with a population of 1,158 residents according to the latest US Census Bureau American Community Survey data. The median household income is $51,813 per year, which is 31% below the national median of $75,149. The median age of 60.5 years is notably older the US median age of 38.9 years, suggesting a more established community with a higher proportion of long-term residents.
Housing Market Overview
The housing market in Frankfort features a median home value of $305,600, which is 25% above 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 $749, 36% below the national average of $1,163/month. Of the 850 total housing units, 62% are owner-occupied (310 units) and 38% are renter-occupied (187 units). The balanced mix of owners and renters indicates a diverse housing market.
Economy & Employment
The local economy in Frankfort shows an unemployment rate of 4.7%, which is near the national rate of 3.7%. The poverty rate stands at 13.0%, above the national average of 12.4%. Workers in Frankfort have an average one-way commute time of 20.6 minutes.
Education & Demographics
38.9% 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 0.1% White, 3.4% Hispanic or Latino, 0.0% Black or African American, and 0.5% Asian residents, with 1.3% of the population being foreign-born.
Cost of Living in Frankfort, MI
Compared to national averages, Frankfort has a median household income of $51,813 (31% below the national median of $75,149). Home values average $305,600, which is 25% above the national median. Monthly rent at $749 is 36% below the US average of $1,163. Within Michigan, Frankfort's income is 22% below the state average of $66,017, and home values are 67% above the state median of $183,391.
Why Live in Frankfort, MI?
Frankfort offers rent that’s lower than the national average at $749/month, and a well-educated community where 38.9% of residents hold a bachelor’s degree or higher, and short commute times averaging just 20.6 minutes.
Potential considerations include median household income ($51,813) 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 1,158 with a median age of 60.5 years. Compare Frankfort with other cities to see how it stacks up, or explore all cities in Michigan.
Similar Cities Near Frankfort
Cities in Michigan with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Concord | 1,156 | $62,143 | $158,900 | Compare |
| Baldwin | 1,161 | $23,631 | $104,100 | Compare |
| Carson City | 1,161 | $42,750 | $109,200 | Compare |
| Millington | 1,151 | $56,339 | $117,700 | Compare |
| Quinnesec | 1,150 | $61,328 | $117,200 | Compare |
| Athens | 1,149 | $58,438 | $141,800 | Compare |
| Coleman | 1,147 | $41,458 | $88,300 | Compare |
| Grant | 1,146 | $56,875 | $158,600 | Compare |
Demographics
Racial & Ethnic Composition
Economy & Education
Housing
Other Cities in Michigan
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, MI?
The population of Frankfort, MI is 1,158 according to the latest US Census Bureau American Community Survey estimates. This makes it a small town in Michigan.
What is the median household income in Frankfort?
The median household income in Frankfort, MI is $51,813 per year, which is 31% below the national median of $75,149.
What is the median home value in Frankfort?
The median home value in Frankfort, MI is $305,600, which is 25% above the national median of $244,900. The majority of housing units are owner-occupied.
What is the average rent in Frankfort?
The median monthly rent in Frankfort, MI is $749, which is 36% below the national average of $1,163/month.
What is the unemployment rate in Frankfort?
The unemployment rate in Frankfort, MI is 4.7%, compared to the national average of 3.7%. Job seekers may want to research the dominant industries in the area.
Is Frankfort, MI a good place to live?
Frankfort offers a moderate cost of living, a competitive housing market, and growing employment opportunities. With a population of 1,158 and a median age of 60.5, the city appeals to established professionals and retirees.
How educated is Frankfort, MI?
38.9% of residents in Frankfort aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. This above-average educational attainment often reflects a knowledge-based local economy.
What is the cost of living in Frankfort?
Key cost-of-living indicators for Frankfort, MI: median home value is $305,600 (25% above national), median rent is $749/month, and median household income is $51,813. The home-value-to-income ratio is 5.9x, a moderate figure by national standards.
What is the poverty rate in Frankfort?
The poverty rate in Frankfort, MI is 13.0%, 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, MI?
Frankfort's population is 0.1% White, 3.4% Hispanic or Latino, 0.0% Black or African American, 0.5% Asian, and 1.5% two or more races. 1.3% of residents are foreign-born.