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Frankfort, IL Homes for Rent

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    $1,800 Per Month

    • 2 Beds
    • 1 Bath
    • 912 Sq Ft
    • Condo for Rent

    20206 S Frankfort Square Rd Unit D, Frankfort, IL 60423

    Come check out this beautifully updated condo!!! Experience cozy suburban living! 2 Bed, 1 Bath! Newer Flooring, Trim, Counter-tops, Appliances, Vanity, and A/C Units! First Floor Unit! Completely move-in-ready! Laundry in building! Photos are from prior to current tenants moving out -some updates will be made. This condo is located just minutes away from shopping and plenty of restaurants.

    Beata Williams Village Realty, Inc.

    20206 S Frankfort Square Rd Unit D, Frankfort, IL 60423
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    $3,200 Per Month

    • 4 Beds
    • 2 Baths
    • 1,550 Sq Ft
    • Condo for Rent

    8049 W Norwood Dr, Frankfort, IL 60423

    Welcome to your new home in the heart of Frankfort, IL! This charming property offers a wonderful living experience, perfectly situated near several great restaurants and department stores to cater to your shopping and dining needs. Additionally, Olympia Fields Hospital is just a quick 13-minute drive away, making it an ideal location for your convenience.This property features

    8049 W Norwood 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 $3,200 per month, though prices vary by neighborhood, size, and property type. As of August 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 $128,000 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 $3,200 per month in Frankfort, IL, renters typically need to show $9,600 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 13.0, 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 Old Matteson, Centennial Park and Central Orland, each with its own character and price range.

Rental Home Trends

Number of Homes for Rent
2
Median Rent
$3,200
Median Single Family Home Rent
$2,800
Median Townhouse Rent
$1,650
Median Condo Rent
$1,900
How to Rent a Home