Frankfort, MI

Real estate in Frankfort, Michigan is a hot commodity. The city has a population of just over 20,000 people and is located in the heart of the Thumb region. This area is known for its fertile soil and abundant natural resources, which has led to a thriving agricultural industry.

The city's economy is based largely on agriculture and manufacturing. However, the recent growth of the health care industry has helped to diversify the economy. There are several large hospitals in Frankfort, as well as several medical research facilities. Additionally, there are several large companies that provide services to the health care industry, such as Baxter International and Novartis Pharmaceuticals Corporation.

The real estate market in Frankfort is strong due to its proximity to major metropolitan areas such as Detroit and Lansing. In addition, there are a number of new development projects underway that will add more housing units to the market over time.

There are a number of different types of real estate available in Frankfort: single-family homes, townhouses/condos/apartments, commercial properties (including office space), and industrial properties (including warehouses). The city's population is young and growing rapidly, which means that there is an increasing demand for multifamily housing options (such as apartments) as well as single-family homes.

The median price for single-family homes in Frankfort was $132,500 in 2016; this represents an increase of 5% from 2015 levels. Townhouses/condos/apartments were priced at $129,000 on average last year; this represents an increase of 10% from 2015 levels. Commercial properties saw an average price increase of 7%, while industrial properties experienced an 8% uptick in prices last year.