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Frankfort, MI Home Values and Rents
The typical home value in Frankfort is $525,391, 42nd highest of 442 cities and towns in Michigan. Median rent is $876 a month.
- Typical home value
- $525,391
- 42nd of 442 in MI
- Median rent
- $876/mo
- ACS 2020-2024
- Price change, 1 year
- +7.6%
- Sep 2026
- Homeownership
- 64.1%
- MI: 73.2%
Home sale prices in the Traverse City, MI area
Zillow median sale price, Sep 2026
$471,734+12.6% from a year earlier
Half of homes in the metro area sold for more and half for less. Zillow publishes sale prices for metro areas, not for single counties or cities.
Typical home value in Frankfort
Zillow Home Value Index, all homes, middle tier
Show as a table
| Period | Frankfort |
|---|---|
| Sep 2026 | $525,391 |
| Dec 2025 | $502,850 |
| Dec 2024 | $503,401 |
| Dec 2023 | $473,793 |
| Dec 2022 | $436,537 |
| Dec 2021 | $403,078 |
| Dec 2020 | $328,077 |
| Dec 2019 | $285,993 |
| Dec 2018 | $276,287 |
| Dec 2017 | $264,052 |
| Dec 2016 | $267,943 |
| Dec 2015 | $269,137 |
| Dec 2014 | $270,625 |
| Dec 2013 | $259,081 |
| Dec 2012 | $232,895 |
Over five years, Frankfort prices changed +33.4%.
Source: Zillow Research · Last updated 09/01/2026
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Fair Market Rents, FY2027
HUD rent standard for Benzie County, MI HUD Metro FMR Area
| Unit size | Monthly rent | vs FY2026 |
|---|---|---|
| Studio | $937 | +3.7% |
| 1 bedroom | $943 | +0.6% |
| 2 bedrooms | $1,234 | +0.8% |
| 3 bedrooms | $1,635 | +3.1% |
| 4 bedrooms | $1,874 | +9.0% |
Frequently asked questions
- What is the typical home value in Frankfort, MI?
- The typical home value in Frankfort is $525,391 (Zillow Home Value Index, Sep 2026). The Michigan median is $231,600.
- How much is rent in Frankfort?
- The median rent in Frankfort is $876 a month, including utilities paid by the renter. HUD's FY2027 Fair Market Rent for a two-bedroom unit is $1,234.
- Are home prices going up in Frankfort?
- The typical home value in Frankfort changed +7.6% over one year and +33.4% over five years, as of Sep 2026.
- How does Frankfort compare with the rest of Michigan?
- Frankfort has the 42nd highest median home value of 442 cities and towns with 1,000+ residents in Michigan.