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Frankton-Lapel Community Schools

Learn about the people, housing, costs and businesses in Frankton-Lapel Community Schools, Indiana

Median Home$182,430
Median Rent$1,068/month
Population12,125
Leading IndustriesHealthcare · Wholesale Trade · Arts, Food & Hospitality15% healthcare
Home Value Growth⬆⬆⬆+28.5% over 2 years
Young Adults29% of residentsslightly above average
Homeowners86% of occupied units
Frankton-Lapel Community Schools
IN

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Frequently Asked Questions

What are today's mortgage rates in Frankton-Lapel Community Schools?

As of today, the 30-year fixed mortgage rate for Frankton-Lapel Community Schools is approximately 6.967% (7.009% APR). Rates vary based on your credit score, loan type, down payment, and other factors. Safe Rate updates rates daily using live investor pricing.

View current rates for Frankton-Lapel Community Schools
What is the median home price in Frankton-Lapel Community Schools?

The median home value in Frankton-Lapel Community Schools is $182k. The median monthly rent is $1,068. Annual property taxes average $1k. Home values are based on U.S. Census Bureau American Community Survey estimates.

Are home values rising in Frankton-Lapel Community Schools?

Home values in Frankton-Lapel Community Schools have increased 28.5% over the past two years. This indicates a strong appreciation trend. This data is sourced from the Federal Housing Finance Agency (FHFA) House Price Index.

How much income do you need to buy a home in Frankton-Lapel Community Schools?

Based on a typical all-in ownership cost of $1,009/month (mortgage, taxes, insurance), you'd generally need a household income of approximately $43k/year to keep housing costs at or below 28% of gross income — a common lender guideline. The median household income in Frankton-Lapel Community Schools is $81k/year.

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What industries drive the economy in Frankton-Lapel Community Schools?

The largest employment sectors in Frankton-Lapel Community Schools are public administration (20%) and healthcare (15%) of the local workforce. Industry data is sourced from the U.S. Census Bureau American Community Survey.