Periodicity in Rank 2 Graph Algebras Kumjian and Pask introduced an aperiodicity condition for higher rank graphs. We present a detailed analysis of when this occurs in certain rank 2 graphs. When the algebra is aperiodic, we give another proof of the simplicity of $\mathrm{C}^*(\mathbb{F}^+_{\theta})$. The periodic $\mathrm{C}^*$-algebras are characterized, and it is shown that $\mathrm{C}^*(\mathbb{F}^+_{\theta}) \simeq \mathrm{C}(\mathbb{T})\otimes\mathfrak{A}$ where $\mathfrak{A}$ is a simple $\mathrm{C}^*$-algebra. Keywords:higher rank graph, aperiodicity condition, simple $\mathrm{C}^*$-algebra, expectationCategories:47L55, 47L30, 47L75, 46L05