The typical owner-occupied home in Frankford is worth about $315,000, 11% below the Delaware median of $352,000 and 5% below the national median of $332,700. Owners pay a median $949 a year in property taxes, about 0.30% of their home's value, lower than the Delaware rate of 0.50%. The median household earns $77,206 a year, so the median home costs 4.1 times the median income (4.1 times for Delaware). 61% of occupied homes here are lived in by their owners, and 51% of those owners still have a mortgage.
Frankford at a glance
| Frankford | Delaware | U.S. | |
|---|---|---|---|
| Median home value | $315,000 | $352,000 | $332,700 |
| Median property tax paid per year | $949 | $1,768 | $3,119 |
| Property tax as a share of value | 0.30% | 0.50% | 0.94% |
| Median household income | $77,206 | $84,954 | $80,734 |
| Homes lived in by their owners | 61% | 73% | 65% |
| Owner homes with a mortgage | 51% | 64% | 61% |
| Median monthly costs, owners with a mortgage | $1,935 | $1,816 | $1,963 |
| Those costs as a share of the owners' income | 18.9% | 20.0% | 21.0% |
| Median rent | $1,072 | $1,401 | $1,413 |
| Rent as a share of renters' income | 17.4% | 29.9% | 30.6% |
| Median year homes were built | 1977 | 1987 | 1980 |
| Vacant homes | 14.7% | 13.4% | 10.1% |
| Population | 1,215 | 1,021,191 | 334,922,499 |
What a typical home costs per month in Frankford
At this week's average 30-year rate of 7.11%, buying the median Frankford home of $315,000 with 20% down costs about $1,905 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $2,430, because the loan is bigger and FHA adds mortgage insurance.
Lenders usually want housing costs under about 28% of gross income, which means an income of roughly $81,652 for the 20%-down payment. That payment is 30% of the median Frankford household income of $77,206; at that income and 20% down, the 28% guideline points to a home of about $298,000.
The median rent here is $1,072 a month, so owning the median home costs about $833 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $63,000 |
|---|---|
| Loan amount | $252,000 |
| Principal and interest | $1,695 |
| Property taxes (0.30% a year) | $79 |
| Homeowners insurance (our estimate, 0.5% a year) | $131 |
| PMI | $0 |
| Total per month | $1,905 |
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| Down payment | $11,025 |
|---|---|
| Loan amount | $309,295 |
| Principal and interest | $2,081 |
| Property taxes (0.30% a year) | $79 |
| Homeowners insurance (our estimate, 0.5% a year) | $131 |
| FHA mortgage insurance | $139 |
| Total per month | $2,430 |
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Questions about home buying in Frankford
What is the median home value in Frankford?
About $315,000 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Frankford?
Homeowners pay a median $949 a year, which is about 0.30% of the median home value. Your bill depends on your home's assessed value and local rates.
What income do you need to buy a home in Frankford?
For the median home with 20% down at 7.11%, the payment is about $1,905 a month. Keeping that under 28% of gross income takes about $81,652 a year.
More about Frankford
- Mortgage Refinance in Frankford
- Debt Relief in Frankford
- Home Equity Loans in Frankford
- Guides and quotes for mortgage refinance on our sister site, MortgageRefinance.com
Sources: U.S. Census Bureau, American Community Survey 2020–2024 5-year estimates; Freddie Mac Primary Mortgage Market Survey, week of November 12, 2026. Estimates for small places have wide margins of error. About our data