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Frankfort, IL Homes for Rent

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  • /24

    $2,800 Per Month

    • 3 Beds
    • 2 Baths
    • 1,350 Sq Ft
    • House for Rent

    8365 W Lincoln Hwy, Frankfort, IL 60423

    Come see this recently updated 3 bedroom, 2 full bath farmhouse situated on a private 1-acre lot in Frankfort. This charming home underwent a complete renovation in 2026, offering tenants the perfect blend of modern updates and country-style living. Inside, you'll find spacious living areas, updated finishes throughout, and a functional layout designed for comfortable everyday living. The primary

    Michael Kelly Crosstown Realtors Inc

    8365 W Lincoln Hwy, Frankfort, IL 60423
  • /18

    $2,835 Per Month

    • 3 Beds
    • 1.5 Baths
    • 1,488 Sq Ft
    • House for Rent

    20560 S Acorn Ridge Dr, Frankfort, IL 60423

    Lease this home and get more from Invitation Homes professional property management. This home comes fully loaded with quality amenities, must-have services, high-end tech and ProCare® professional maintenance. Your estimated total monthly payment is $2979.90. That covers your base rent, $2835.00 + our required services designed to make your life easier: Air Filter Delivery Fee ($9.95), Internet

    (708) 576-4197

    20560 S Acorn Ridge Dr, Frankfort, IL 60423

Why Live in Frankfort

Frankfort, Illinois, known as the “Jewel of the South Suburbs,” is a rapidly growing community located at the crossroads of U.S. Route 30 and U.S. Route 45, about 30 miles southwest of Chicago. Once a small railroad and farming town, it now has more than 20,000 residents, with many newer subdivisions sitting across from open farm fields, giving parts of the area a still-pastoral feel. The preserved historic downtown maintains consistent architecture, even in newer buildings, and is walkable with more than 50 businesses, including boutiques, salons, restaurants, coffee shops and bars. Local dining spots like Fat Rosie's Taco and Tequila Company, Francesca's Fortunato, Cultivate Community Table and Old Plank Trail Tavern are popular things to do, along with more shopping and dining along LaGrange Road (U.S. 45). Frankfort hosts major annual events such as the Frankfort Fall Festival and the Frankfort Bluegrass Festival, plus regular gatherings at Breidert Green like Fridays on the Green, Movies on the Green and Concerts on the Green. Families are served by highly rated Frankfort Community School District No. 157-C, which feeds into Lincoln-Way East High, one of Will County’s top high schools. Housing ranges from 1970s and 1980s split-level and ranch-style homes to large custom homes in subdivisions such as Butternut Creek Woods, Cardinal Lake and Stonebridge Valley. Outdoor recreation includes Prairie Park’s tallgrass prairie and pond, the 22-mile Old Plank Road Trail, and the members-only Prestwick Country Club golf course. Proximity to Interstate 80, 4 miles away, supports commuting, with Metra rail service available in neighboring Mokena and Chicago Midway International Airport just over 25 miles to the north.

Frequently Asked Questions

How much does it cost to rent a home in Frankfort, IL?
The median rent for a home in Frankfort, IL is $2,817 per month, though prices vary by neighborhood, size, and property type. As of June 2026, townhouses tend to be the most affordable option while condos and single-family homes are currently more expensive.
How much do you need to make to afford rent in Frankfort, IL?
To comfortably afford the median rent in Frankfort, IL, a household needs to earn roughly $112,680 per year. This is based on the common guideline that households should spend no more than 30% of gross income on housing. Most landlords require monthly household income of at least 3x the monthly rent, and with a median rent of $2,817 per month in Frankfort, IL, renters typically need to show $8,451 per month in gross income to qualify. Actual affordability will vary depending on household debts, other living expenses, and overall budget.
Is it more affordable to rent or buy in Frankfort, IL?
In Frankfort, IL, the price-to-rent ratio is 14.8, which generally favors renting. This ratio divides the median home price by the annual median rent: below 15 typically favors buying, 15 to 20 is balanced, and above 20 typically favors renting. Your finances, how long you plan to stay, and costs like mortgage rates, taxes, and maintenance all factor into the decision.
What neighborhoods in Frankfort, IL are best for renting a home?
The best neighborhood for renting in Frankfort, IL depends on your priorities: commute, walkability, budget, and lifestyle all play a role. Popular areas for renting a home include Central Tinley Park, Centennial, Thies, Silver Lake South and Orland Grove, each with its own character and price range.

Rental Trends in Frankfort, IL

Rental Home Trends

Number of Homes for Rent
2
Median Rent
$2,817
Median Single Family Home Rent
$2,625
Median Townhouse Rent
$1,450
Median Condo Rent
$1,900
How to Rent a Home