Frankfort, NY
Population 2,384 · New York
About Frankfort, NY
Frankfort is a small town located in New York with a population of 2,384 residents according to the latest US Census Bureau American Community Survey data. The median household income is $48,931 per year, which is 35% below the national median of $75,149. The median age of 37 years is close to the US median age of 38.9 years.
Housing Market Overview
The housing market in Frankfort features a median home value of $119,000, which is 51% below the national median of $244,900. This makes Frankfort one of the more affordable markets in the country, potentially attractive for first-time homebuyers. Median monthly rent is $811, 30% below the national average of $1,163/month. Of the 1,192 total housing units, 75% are owner-occupied (793 units) and 25% are renter-occupied (270 units). The high homeownership rate suggests a stable, established residential community.
Economy & Employment
The local economy in Frankfort shows an unemployment rate of 0.6%, which is lower than the national rate of 3.7%, indicating a relatively strong job market. The poverty rate stands at 11.8%, below the national average of 12.4%, reflecting generally favorable economic conditions. Workers in Frankfort have an average one-way commute time of 25 minutes.
Education & Demographics
12.6% of Frankfort residents aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. The lower educational attainment rate may reflect the area's industry mix, with more employment in trades, manufacturing, or agricultural sectors. The community's demographic composition includes 0.0% White, 0.0% Hispanic or Latino, 0.6% Black or African American, and 0.6% Asian residents, with 2.6% of the population being foreign-born.
How Frankfort Ranks in New York
Cost of Living in Frankfort, NY
Compared to national averages, Frankfort has a median household income of $48,931 (35% below the national median of $75,149). Home values average $119,000, which is 51% below the national median. Monthly rent at $811 is 30% below the US average of $1,163. Within New York, Frankfort's income is 50% below the state average of $96,987, and home values are 69% below the state median of $387,181.
Why Live in Frankfort, NY?
Frankfort offers affordable housing with a median home value of $119,000, below the US average of $244,900, and rent that’s lower than the national average at $811/month, and a strong job market with an unemployment rate of just 0.6%. Additionally, the city features a low poverty rate of 11.8%, better than the national average.
Potential considerations include median household income ($48,931) 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 2,384 with a median age of 37 years. Compare Frankfort with other cities to see how it stacks up, or explore all cities in New York.
Similar Cities Near Frankfort
Cities in New York with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Phoenix | 2,393 | $60,000 | $143,900 | Compare |
| East Ithaca | 2,372 | $108,839 | $320,900 | Compare |
| Jamestown West | 2,398 | $64,034 | $145,400 | Compare |
| Lincoln Park | 2,406 | $81,337 | $254,300 | Compare |
| Moriches | 2,407 | $78,269 | $466,500 | Compare |
| Siena College | 2,349 | $0 | $0 | Compare |
| Halesite | 2,348 | $153,375 | $822,300 | Compare |
| Lakeland | 2,344 | $89,405 | $156,100 | Compare |
Demographics
Racial & Ethnic Composition
Economy & Education
Housing
Other Cities in New York
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, NY?
The population of Frankfort, NY is 2,384 according to the latest US Census Bureau American Community Survey estimates. This makes it a small town in New York.
What is the median household income in Frankfort?
The median household income in Frankfort, NY is $48,931 per year, which is 35% below the national median of $75,149.
What is the median home value in Frankfort?
The median home value in Frankfort, NY is $119,000, which is 51% below 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, NY is $811, which is 30% below the national average of $1,163/month.
What is the unemployment rate in Frankfort?
The unemployment rate in Frankfort, NY is 0.6%, compared to the national average of 3.7%. This lower-than-average rate suggests a relatively healthy local job market.
Is Frankfort, NY a good place to live?
Frankfort offers a moderate cost of living, affordable housing, and a strong job market. With a population of 2,384 and a median age of 37, the city appeals to a broad range of residents.
How educated is Frankfort, NY?
12.6% 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, NY: median home value is $119,000 (51% below national), median rent is $811/month, and median household income is $48,931. The home-value-to-income ratio is 2.4x, indicating relatively affordable housing relative to local incomes.
What is the poverty rate in Frankfort?
The poverty rate in Frankfort, NY is 11.8%, compared to the national average of 12.4%. This below-average poverty rate reflects generally favorable economic conditions in the community.
How diverse is Frankfort, NY?
Frankfort's population is 0.0% White, 0.0% Hispanic or Latino, 0.6% Black or African American, 0.6% Asian, and 1.3% two or more races. 2.6% of residents are foreign-born.