Rent to own Homes in Frankfort, KY
Frankfort is located in north Kentucky and functions as the state's capital city. A town with a rich history, Frankfort's beginnings date back to the 1780s. The town was significantly developed in the latter half of the 20th century and today is characterized by its modern infrastructure, abundance of green spaces, and a small-town atmosphere orchestrated by the 25,000 friendly residents who call Frankfort home.
Frankfort, KY is a great place for affordable rent-to-own homes! With a median household income of over $50,602 and a median rent of $779, the Frankfort, KY rent-to-own market is more affordable than the traditional housing market which has shown tremendous growth across the U.S. and with it, aggressive competition for home purchases. With the current housing shortage trend it can make it harder to become a homeowner, including in Frankfort, KY. This means higher than average down payments for homes and higher qualification standards for conventional home loans. With a rent-to-own property, tenants are also buyers. You can live in the house for a set amount of time before you purchase it, meaning that you get to know the house, your neighbors, and your community before making the final purchase. This enables you and your family to make the right choice based on both information and experience. Rent-to-own is also a great alternative way to get into a home if you have bad credit or don't have enough saved for a down payment.
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Rent to own Homes in Cities Near Frankfort, KY
Neighborhoods in Frankfort, KY
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Frankfort, KY is seeing rapid growth and Frankfort, KY's' housing market remains optimal with an average home price that is -39% below the 2025 national average. Frankfort, KY is part of Franklin county and taxes are an important factor to consider when purchasing a home whether through rent to own or a traditional purchase. The average tax rate as of 2025 for county Franklin is 0.8% which is below the national average, which is 0.99%.
Median Home Price in Frankfort, KY
Median Rent in Frankfort, KY
6 Reasons to Live in Frankfort, KY
Varied housing options! Frankfort puts the individual in charge of their housing options, with a higher rental percentage than the rest of the state; there is a 50/50 split between rent to own homes and homes that are owned. For neighborhoods with rent to own options, try Indian Hills and Kentucky State U/E West Connector.
History! The historic district of Frankfort brings history to the 21st century neighborhood. This is especially evidenced by the number of picturesque old churches that line the streets; you'll find the Church of the Ascension Episcopal Church, Good Shepherd Roman Catholic Church, and the First Baptist Church, which has been visited by many influential people, including Martin Luther King Jr.
Get active! With the Kentucky River and plenty of parks in the city, there's no excuse not to get out in to the community to stay active. Choose from a kayak trip down the river, an enjoyable afternoon of disc golf, tennis, or hiking at East Frankfort Park, or a quick bike ride through the city.
Plenty of space! If you want plenty of room, you can have plenty of room. Most homes in Frankfort have 6 or more rooms and 77 percent have three or more bedrooms, which mean you'll have plenty of space in your property for your recreational equipment. Look at the Peaks Mill/Woodlake and Evergreen/Farmdale neighborhoods for medium to large homes.
Outdoor culture! As you might have guessed, Frankfort is a city that really invites its residents to get out of their houses and into the outdoors. Spend a day learning about sustainable farming practices at Commonwealth Gardens or enjoying the local art scene at Josephine Sculpture Park, which also hosts Shakespeare plays under the stars during the summer months.
Indoor culture! Frankfort is home to Kentucky State University, which regularly hosts talks and workshops given by guest lecturers that are open to the public. Also, there is The Grand Theatre, built in 1911, which puts on a variety of performances, including ballets, plays, classic movies, and much more.
