Cost of Living in Frankfort, OH

With a cost of living index of 68, Frankfort, OH is one of the most affordable cities in the country. Living here is 32% cheaper than the national average and 9% below the Ohio state average of 78. Frankfort is a small community of 1,419 residents.

Housing costs are the biggest factor in Frankfort's cost of living. The median monthly rent is $769 (42% below the US median of $1,319), and the median home value sits at $159,100 (48% below the national median of $304,900). At current prices, the median home costs roughly 2.5x the median household income — well within traditional affordability guidelines.

The median household income in Frankfort is $62,583, which is 17% lower than the national median of $75,149. Residents spend roughly 15% of household income on rent. This is a comfortable ratio, well below the 30% threshold that financial experts recommend as a maximum. Lower incomes here are balanced by the significantly lower cost of living, stretching each dollar further.

Climate is another factor for anyone considering a move to Frankfort. The area sees an average annual temperature of 52.6°F, with summers averaging 72°F and winters around 32°F. Annual rainfall totals 42.4 inches spread over roughly 145 days.

Data sources: US Census Bureau (ACS 2023), Zillow Home Values, HUD Fair Market Rents, BEA Regional Price Parities, BLS Average Prices, and NOAA Climate Normals. Updated monthly.