Frequently Asked Questions
How much does it cost to rent a single-family home in Franklin Park, IL?
The median rent for a single-family home in Franklin Park, IL is $2,500 per month, though prices vary by neighborhood, size, and property type. As of May 2026, condos tend to be the most affordable option while single-family homes are currently more expensive.
How much do you need to make to afford rent in Franklin Park, IL?
To comfortably afford the median rent in Franklin Park, IL, a household needs to earn roughly $84,000 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 $2,100 per month in Franklin Park, IL, renters typically need to show $6,300 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 Franklin Park, IL?
In Franklin Park, IL, the price-to-rent ratio is 13.9, 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.
Rental Home Trends in Franklin Park, IL
There are currently 2 single-family homes available for rent in Franklin Park, IL. The median rent is $2,500 per month, with 3-bedroom houses renting at $2,649, 4-bedroom houses at $2,995 and 5-bedroom houses at $3,000.
Number of Houses for Rent
2
Median Single Family Home Rent
$2,500
Median 3 Bedroom Single Family Home Rent
$2,649
Median 4 Bedroom Single Family Home Rent
$2,995
Median 5 Bedroom Single Family Home Rent
$3,000
