Market file · Benzie County, Michigan

Frankfort home appraisals

Frankfort is a Lake Michigan harbor city of 1,252 people (2020 census) at the mouth of the Betsie River. Zillow put its average home value at $482,497 in January 2026. Just over half of its 999 homes were counted vacant in the 2018 ACS.

1,252Population, 2020 census (Wikipedia)

$482,497Zillow average home value, Frankfort, January 2026, up 1.5% year over year

501 of 999Housing units counted vacant, 2018 ACS (Frankfort Recreation Plan, 2021)

$541,2872026 FHA one unit loan limit, Benzie County (LendingTree)

A harbor city that does not price like its county

Zillow's average home value for Frankfort was $482,497 as of January 31, 2026, up 1.5% year over year. Countywide, the Census Bureau puts the 2020 to 2024 ACS median owner occupied value for Benzie County at $285,700. That gap matters. A small harbor city with Lake Michigan beach does not price like the inland county around it, so comps need to come from the same setting.

Half the homes were counted vacant in 2018. The most telling comps are often seasonal sales near the harbor and beach.

Lake Michigan, Betsie Lake and small lots

Water sets this market. The city sits on Lake Michigan and wraps Betsie Lake, with Frankfort Harbor, the municipal marina and Borwell Yacht Basin on the bay side. Sleeping Bear Dunes National Lakeshore and Crystal Mountain are nearby. With half the housing stock counted vacant in 2018, seasonal owners shape the pool of sales. Lots are small, since the city has only 1.39 square miles of land. Frankfort-Elberta Area Schools serves the city, and the 2010 master plan called for a review of the steep slopes ordinance.

Areas, lakes and neighborhoods in this file

Downtown Main Street
Betsie Bay waterfront
Frankfort Harbor
Frankfort Municipal Marina and Borwell Yacht Basin
Lake Michigan Beach
Tank Hill (Park Avenue)
Market Square Park area
Mineral Springs Park area
Lockhart Field area
Elberta (a separate village, not part of the city)
Crystallia
Pilgrim
Watervale
Crystal Downs

Landmarks around Frankfort

Frankfort LightLighthouse
Point Betsie LightLighthouse
Betsie RiverRiver
Frankfort Land Company HouseHistoric house
Crystal LakeInland lake

Common questions

Are second homes common in Frankfort?

Yes. The city's 2022 to 2026 recreation plan cites 999 housing units in the 2018 ACS, with 501 counted vacant, and notes those units may belong to people whose usual residence is elsewhere. For an appraisal, occupancy and seasonal use are worth stating up front, since they affect which sales make fair comparisons.

How much land does Frankfort have to build on?

Not much. The city has only 1.39 square miles of land, so lots are small. The 2010 master plan also called for a review of the steep slopes ordinance. Lot size and buildability are worth checking before comparing a Frankfort home with sales outside the city.