Newest Homes for Rent in Frankfort, IL

/15
$2,590 Per Month
- 4 Beds
- 2 Baths
- 1,215 Sq Ft
- House for Rent
7437 W Hickory Creek Dr, Frankfort, IL 60423

Apply now or schedule your self-tour today and take the first step toward getting more than just a place to live. Rent with FirstKey Homes for a home that's right for you, plus professional service and maintenance, innovative resident programs, and more; that's the power of purple! This 4-bedroom, 2-bathroom rental home in Frankfort, IL, may be the right place for you. Enjoy outdoor living

7437 W Hickory Creek Dr, Frankfort, IL 60423
Explore Frankfort
/9
$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

Illinois Will County

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 West Matteson, Old Matteson and Centennial Park, each with its own character and price range.

Rental Trends in Frankfort, IL

There are currently 2 homes available for rent in Frankfort, IL. The median rent is $3,200 per month, with single-family homes renting at $2,800, townhouses at $1,650 and condos at $1,950.

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 $1,950

How to Rent a Home

Rentals in Frankfort

Homes for Rent by Bedrooms in Frankfort

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Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.

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