Frankfort, KY Cost Of Living
Cost Of Living In Frankfort, KY Summary
Cost of living in Frankfort research summary. The cost of living index is set to 100 for the average place in the United States. A cost of living index above 100 means Frankfort is expensive. An index value below 100 means the city is a relatively cheap place to live.
On a city-by-city basis in Kentucky, home prices and rent have the biggest impact on the cost of living. Here are the key takeaways based on Saturday Night Science:
The cost of living index in Frankfort is 89, with 100 being the average.
The cost of living index in Frankfort is 0.9x lower than the national average.
Frankfort ranks as the #35 cheapest in Kentucky out of 85.
Frankfort ranks as the #1,460 cheapest out of 6,412 in the US.
The median home value in Frankfort is $135,800.
The median income in Frankfort is $51,731.
Table Of Contents
Frankfort's Overall Cost Of Living
Lower Than The National Average
What is the cost of living in Frankfort, KY?
According to the most recent data on the cost of living, Frankfort has an overall cost of living index of 89, which is 0.9x lower than the national index of 100.
Compared to Kentucky, Frankfort has a cost of living index that's 0.9x lower than Kentucky's index of 94.
The standard of living in Frankfort ranks as #35 most affordable out of the 85 places we measured in Kentucky. By definition, that implies Frankfort ranks as the #50 most expensive place in the Bluegrass State.
For more reading on life in Frankfort, check out:
- Living In Frankfort
- Frankfort Crime Report
- Search Homes For Sale In Frankfort, KY
In Kentucky
In America
Frankfort Cost Of Living Vs. Kentucky
Six factors go into calculating the cost of living index in Frankfort. Here is how it fairs on each of the criteria:
The Services index in Frankfort is 104.
The Groceries index in Frankfort is 89.
The Health index in Frankfort is 79.
The Housing index in Frankfort is 71.
The Transportation index in Frankfort is 95.
The Utilities index in Frankfort is 103.
| Living Expense | Frankfort | Kentucky | National Average | |
|---|---|---|---|---|
| Overall | 89 | 94 | 100 | |
| Services | 104 | 105 | 100 | |
| Groceries | 89 | 97 | 100 | |
| Health | 79 | 79 | 100 | |
| Housing | 71 | 75 | 100 | |
| Transportation | 95 | 102 | 100 | |
| Utilities | 103 | 106 | 100 | |
Frankfort, KY Housing Cost Breakdown
Housing swings affordability the most between places in Kentucky, so we broke down housing costs into more detail. Home and income data comes from the most recent US Census ACS 2017-2021. The key points are:
The Median Home Value in Frankfort is $135,800.
The Median Rent in Frankfort is $815.
The Median Income in Frankfort is $51,731.
The Home Value To Income in Frankfort is 2.6x.
The Rent To Monthly Income in Frankfort is 0.19x.
| Statistic | Frankfort | Kentucky | United States |
|---|---|---|---|
| Median Home Value | $135,800 | $155,100 | $244,900 |
| Median Rent | $815 | $826 | $1,163 |
| Median Income | $51,731 | $55,454 | $69,021 |
| Home Value To Income | 2.6x | 2.8x | 3.5x |
| Rent To Monthly Income | 0.19x | 0.18x | 0.2x |
Median Home Value
Median Rent
Median Income
Frankfort, KY Costs By Category
Detailed Frankfort Services Costs Vs. Kentucky
Detailed Frankfort Groceries Costs Vs. Kentucky
Detailed Frankfort Health Costs Vs. Kentucky
Detailed Frankfort Transportation Costs Vs. Kentucky
Detailed Frankfort Utilities Costs Vs. Kentucky
Frankfort SnackAbility
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Cost Of Living In Cities Around Frankfort
The cost of living varies in the cities and towns around Frankfort. Here's a quick look at the cost of living in the most populous nearby places:
Georgetown, KY has a cost of living index of 92, 1.0x Frankfort.
Jeffersontown, KY has a cost of living index of 98, 1.1x Frankfort.
Shelbyville, KY has a cost of living index of 94, 1.1x Frankfort.
| City | Population | Cost Of Living | Vs. Frankfort |
|---|---|---|---|
| Georgetown, KY | 36,281 | 92 | 1.0x |
| Jeffersontown, KY | 28,800 | 98 | 1.1x |
| Shelbyville, KY | 16,932 | 94 | 1.1x |
| Lawrenceburg, KY | 11,675 | 89 | 1.0x |
| Versailles, KY | 10,196 | 91 | 1.0x |
| Middletown, KY | 9,473 | 103 | 1.2x |
| Douglass Hills, KY | 5,480 | 107 | 1.2x |
| Buckner, KY | 5,435 | 120 | 1.3x |
