Frankfort, NY is a small town located in Herkimer County, which offers a quiet and peaceful atmosphere. It has a population around 3,000 people and is known for its rich history. Frankfort is also known for having an affordable cost of living as 2 bedroom rent is about $950 compared to the US 2 bedroom rent at $1,430. In addition, the Grocery Cost Index in Frankfort is 98 versus 100 in the US.
The town boasts several local businesses that help contribute to the community. Some of these include Frankfort Pizzeria & Restaurant, Grice's Market & Deli, Valley View Senior Living Community, and Hill Airbrush Art LLC. The local businesses are vital for keeping the economy strong and offering residents access to necessary services and goods.
Frankfort has an unemployment rate of 8.3%. The US average is 6.0%.
Frankfort has seen the job market decrease by -0.2% over the last year. Future job growth over the next ten years is predicted to be 21.0%, which is lower than the US average of 33.5%.
Tax Rates for Frankfort
- The Sales Tax Rate for Frankfort is 8.3%. The US average is 7.3%.
- The Income Tax Rate for Frankfort is 6.5%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Frankfort
- The average income of a Frankfort resident is $23,627 a year. The US average is $28,555 a year.
- The Median household income of a Frankfort resident is $61,074 a year. The US average is $69,021 a year.