Frankfort, Kentucky Rental Market Trends
Any shifts in rent prices brought forth by the COVID-19 pandemic are not yet reflected in the statistics on this page. Please bear this in mind when referencing the data below, as it may not accurately describe the current context of the Frankfort, Kentucky rental market.
Frankfort, Kentucky
Average Apartment Rent
$986
Y-o-Y Change in Average
Apartment Rent
6.5%
As of July 2024
Compared to a year ago, Frankfort, Kentucky apartments have recorded a 6.5% rent increase.
Frankfort, Kentucky |Average apartment rent trend
Frankfort, Kentucky| Average apartment rent
Frankfort, Kentucky | Apartment rent ranges
At 59.01%, apartments priced $700 - $1000 represent the bulk of Frankfort, Kentucky rentals, while condos priced $1,500 - $2,000 hold the lowest share of the market – 3.72%.
Frankfort, Kentucky | Housing tenure**
Renters take up 52% of Frankfort, Kentucky real estate, occupying a total of 6,594 units, while homeowners live in 6,076 properties.
Median number of rooms of renter-occupied housing units**
4
Renter median household income**
$39,375
Average household size of renter-occupied housing units**
2.12
Rental vacancy rate**
1.7%
Frankfort, Kentucky | Renter-occupied housing units by no. of bedrooms**
There are 3,284 rentals in Frankfort, Kentucky with 2 beds making up the highest share of the market, at 50%. Units with 4 beds, on the other hand, hold the lowest percentage (4%), amounting to 280 units. Overall, the median number of rooms in Frankfort, Kentucky homes for rent is 4.
Frankfort, Kentucky |Renter-occupied units by age of householder**
Most condos for rent in Frankfort, Kentucky are occupied by residents in the 25 - 34 years age group (35%), followed by those in the 35 - 44 years age group (19%). At the same time, people in the 60 - 64 years age group make up the lowest share of the local rental market – 4%.
Frankfort, Kentucky | Renter-occupied housing units by family type**
Frankfort, Kentucky | Renter-occupied housing units by the presence of own children**
A total of 3,226 apartments for rent in Frankfort, Kentucky, or 49% of all rentals are family households. Additionally, 38% of rental homes include children under the age of 18 – that’s 2,528 units. All in all, the median size of a renter-occupied household in Frankfort, Kentucky is 2.12.
Frankfort, Kentucky | Renter-occupied housing units by educational attainment**
In terms of education, renters holding bachelor degrees or higher make up 25% of the rental market. In contrast, residents with less than a high school degree reside in 13% of the homes for rent in Frankfort, Kentucky.
Frankfort, Kentucky | Renter-occupied units by year structure built**
The highest share of Frankfort, Kentucky apartment rentals, namely 20% or 1,321 units, were Built 1970 - 1979, followed by those Built 1980 - 1989 (19%, 1,235 units), and the ones Built 1950 - 1959 (14%, 903 units).
Frankfort, Kentucky | Renter-occupied units by year householder moved in**
Median year renter moved into unit2018
Most Frankfort, Kentucky renters (43%) moved in 2010 to 2017, while only 3% of them moved in 1990 to 1999. Overall, the median year renters have occupied their Frankfort, Kentucky condos for rent is 2018.
Frankfort, Kentucky | Renter-occupied housing units by vehicles available**
When it comes to transportation options, 56% of Frankfort, Kentucky renters have 1 vehicle available per household, 24% of them have 2 vehicles available, and 14% have No vehicle available.
Frankfort, Kentucky | Means of transportation to work of householders living in renter-occupied housing units**
Frankfort, Kentucky |Geographical mobility in the past year for householders living in renter-occupied housing units**
Frankfort, Kentucky | Average apartment rent by zip codes
The rental statistics on this page were compiled using data provided by our sister company, Yardi Matrix, an apartment market intelligence solution which offers comprehensive information on all Frankfort, Kentucky apartment buildings 50 units or larger. Yardi Matrix covers ~80% of the U.S. metro area population, including over 80,000 properties and 15.2 million apartments across 124 U.S. markets.
*Average single-family rent calculated from point2homes.com data.
**Data sourced from U.S. Census Bureau; American Community Survey, 2022 American Community Survey 5-Year Estimates
