By Christina Sturgis
Frankfort is apartment dwellers bargain bazaar, according to Zillow. The current median rate for rental homes is $985 per month for Frankfort, $991 for the Frankfort metropolitan area. Both figures are considerably lower than the national monthly rental of $1,315.
If you choose a two-bedroom unit, the monthly cost would be $600; a three-bedroom unit would be about $750, about the same as a single-family home. The Zillow data from March of this year is consistent with a U.S. Census Bureau report released in April of 2013 that said Kentucky’s Louisville-Jefferson County metropolitan area was among the lowest-priced rental markets in the United States, along with the Buffalo-Niagara Falls area, Pittsburgh, the Cincinnati-Middletown area and Cleveland-Elyria-Mentor area. The Louisville median gross rent was $695 in the census report.
Zillow lists two-bedroom rental prices in other Kentucky cities, including $830 in Lexington, $844 in Louisville, $700 in Owensboro, $540 in Bowling Green and $880 in Covington.
Some of the highest rental prices in the nation are in San Francisco, where the Zillow Rent Index is $3,602 for all homes.
Frankfort gets a grade of 74 as a pleasant place to live from an organization called Area Vibes. The Kentucky capital rated high for its low cost of living, abundant sunshine and access to amenities, including grocery stores, restaurants, schools, parks, libraries, entertainment venues, public transportation and stable housing values.
Although renting a house or apartment doesn’t seem a big of a commitment as buying a home, there are many important things to consider before signing a lease. The Kentucky Attorney General’s Office has advice for renters on its website about units in the Bluegrass State, including info on security deposits, description, tenant responsibilities and eviction. The consumer watchdog organization, the U.S. Public Interest Research Group, also has information about protections offered to renters.