Frankfort, IN Cost Of Living

Demographics | Crime | Cost Of Living
Updated: 2023-11-15

Cost Of Living In Frankfort, IN 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 Indiana, 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 85, with 100 being the average.

  • The cost of living index in Frankfort is 0.8x lower than the national average.

  • Frankfort ranks as the #40 cheapest in Indiana out of 124.

  • Frankfort ranks as the #777 cheapest out of 6,412 in the US.

  • The median home value in Frankfort is $95,100.

  • The median income in Frankfort is $46,236.

Table Of Contents

  1. Summary
  2. National Comparison
  3. Housing Breakdown
  4. Detailed Pricing
  5. Nearby Comparisons
85
Frankfort's Overall Cost Of Living
0.8x
Lower Than The National Average

What is the cost of living in Frankfort, IN?

According to the most recent data on the cost of living, Frankfort has an overall cost of living index of 85, which is 0.8x lower than the national index of 100.

Compared to Indiana, Frankfort has a cost of living index that's 0.9x lower than Indiana's index of 91.

The standard of living in Frankfort ranks as #40 most affordable out of the 124 places we measured in Indiana. By definition, that implies Frankfort ranks as the #84 most expensive place in the Hoosier State.

For more reading on life in Frankfort, check out:

40 out of 124
In Indiana
777 out of 6,412
In America

Frankfort Cost Of Living Vs. Indiana

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 96.

  • The Groceries index in Frankfort is 97.

  • The Health index in Frankfort is 87.

  • The Housing index in Frankfort is 50.

  • The Transportation index in Frankfort is 103.

  • The Utilities index in Frankfort is 96.

Living Expense Frankfort Indiana National Average
Overall 85 91 100
Services 96 94 100
Groceries 97 96 100
Health 87 101 100
Housing 50 77 100
Transportation 103 95 100
Utilities 96 106 100
For more reading on cost of living around Indiana, check out:
Frankfort Cost of Living Vs. IN

Frankfort, IN Housing Cost Breakdown

Housing swings affordability the most between places in Indiana, 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 $95,100.

  • The Median Rent in Frankfort is $765.

  • The Median Income in Frankfort is $46,236.

  • The Home Value To Income in Frankfort is 2.1x.

  • The Rent To Monthly Income in Frankfort is 0.2x.

Statistic Frankfort Indiana United States
Median Home Value $95,100 $158,500 $244,900
Median Rent $765 $891 $1,163
Median Income $46,236 $61,944 $69,021
Home Value To Income 2.1x 2.6x 3.5x
Rent To Monthly Income 0.2x 0.17x 0.2x
Search Homes For Sale In Frankfort, IN
$95,100
Median Home Value
$765
Median Rent
$46,236
Median Income

Frankfort, IN Costs By Category

Detailed Frankfort Services Costs Vs. Indiana

Item Frankfort Indiana
Shampoo $1.05 $1.06
Movie $10.49 $10.68
Bowling $12.55 $14.67
Haircut $15.94 $18.62
Beauty Salon $35.16 $39.05

Detailed Frankfort Groceries Costs Vs. Indiana

Item Frankfort Indiana
Ground Beef $4.89 $4.22
Fried Chicken $1.17 $1.39
Milk $1.66 $2.05
Potatoes $3.89 $3.29
Pizza $10.01 $10.62
Beer $8.2 $9.38
Toothpaste $2.56 $2.34

Detailed Frankfort Health Costs Vs. Indiana

Item Frankfort Indiana
Optometrist $87.5 $108.57
Doctor $85.0 $116.17
Dentist $85.0 $99.13

Detailed Frankfort Transportation Costs Vs. Indiana

Item Frankfort Indiana
Gasoline $2.15 $2.22
Tire Balancing $56.36 $50.07

Detailed Frankfort Utilities Costs Vs. Indiana

Item Frankfort Indiana
All Electricity $152.62 $167.67
Phone $184.27 $175.64

Frankfort SnackAbility

5
/10
Overall SnackAbility
Jobs
6/10
Housing
5
Affordability
8
Diversity
8
Safety
8.5
Amenities
9
Education
4
Commute
8.5

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:

  • Carmel, IN has a cost of living index of 114, 1.3x Frankfort.

  • Noblesville, IN has a cost of living index of 98, 1.2x Frankfort.

  • Lawrence, IN has a cost of living index of 87, 1.0x Frankfort.

City Population Cost Of Living Vs. Frankfort
Carmel, IN 98,137 114 1.3x
Noblesville, IN 68,885 98 1.2x
Lawrence, IN 49,048 87 1.0x
Westfield, IN 45,695 103 1.2x
West Lafayette, IN 44,515 99 1.2x
Zionsville, IN 30,258 118 1.4x
Brownsburg, IN 28,420 95 1.1x
Danville, IN 10,424 92 1.1x
Cumberland, IN 5,860 93 1.1x

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