Frankston High School is one of the most reputable state government schools in Victoria with an excellent academic record attained through a range of extension programs. Admittance to the school is determined by residing within its catchment area. Real estate agents market residential properties as being near the school more often than any other, except Balwyn High School, in the Melbourne inner-eastern suburb of Balwyn North. Research from the Real Estate Institute of Victoria (REIV) also identified that properties in the catchment area of the school sell for 16.9% more than others in Frankston compared with 4% more in Balwyn North.