Frankfort
RANK #776 / 996 NAT · #14 / 19 KY · POP 51,475
1YR FORECAST: +1.7%
5YR OUTLOOK: +17%
Frankfort, the state capital, defines Franklin County, Kentucky, situated along the Kentucky River in the Bluegrass region. It lies approximately 25-30 minutes northwest of Lexington and about 50 minutes southeast of Louisville, offering a convenient commute to both larger cities via I-64. The community maintains a small-town feel despite its capital status, characterized by historic architecture and a scenic environment. Outdoor recreation is abundant, with opportunities for hiking at Cove Spring Park, kayaking on Elkhorn Creek, and exploring the Josephine Sculpture Park.
Life in Franklin County is often described as quiet and family-friendly, with a strong sense of community. The public schools in Franklin County are rated above average. The economy benefits from state government employment, manufacturing, education, and healthcare. Recent economic development initiatives, such as the Franklin-Anderson Commerce and Technology (FACT) District, aim to attract advanced manufacturing, automotive, aerospace, and ag-tech companies, projecting up to 1,000 new jobs with an average wage of $62,000. This focus on job creation and infrastructure development seeks to support local talent and long-term growth.
Above national median
Well below national median
Below-average climate & terrain
Above national median (13x)
Housing looks undervalued at 2.6x — home prices are low relative to local economic output. The typical U.S. county is 4–6x.
Estimated local headcount ranges. Larger employers shown as floor + "+"; smaller employers show exact counts where reported.
Source: Redfin · Census BPS — Browse sales on Redfin →
Source: CDC/NCHS vital statistics via County Health Rankings (2020–2022 avg). Rates per 100,000 population. Grade based on homicide rate relative to national average (~6.3). Learn more →
| PROJECT | AMOUNT | STATUS |
|---|---|---|
|
Franklin-Anderson Commerce and Technology (FACT) District
Franklin County / Anderson County / City of Frankfort / Lawrenceburg
|
$50M | Planned |
|
Aquaculture Protein Product Facility
Meridian Biotech
|
$40M | Planned |
Source: public records, news, corporate announcements. Amounts are estimates where noted.
Bars show percentile rank among all 996 counties.
At 21/100, Franklin County faces headwinds that place it in the lower third of the 996 counties we track. Median income of $62,929 combined with job growth of +3.4% suggests the local economy is struggling to keep pace with national trends.
Housing in Franklin County is roughly in line with national affordability norms. The median home costs $184,000 and the income-to-home-value ratio sits at 0.34, with rents averaging $902/month. Not a bargain, but not a stretch for most local earners either.
Employers in Franklin County are hiring — job growth of +3.4% — but the population is close to flat (+0.3% YoY). Home values moved +0.5% over the past year. Labor demand is outpacing local population growth, which tends to tighten wages and housing.
There's a moderate stream of newcomers. About 4.95% of residents moved from another state, which is above average and suggests Franklin County has appeal as a relocation destination — though it's not among the highest-inflow counties nationally.