Why Live in Freeport
Freeport, Illinois, known as "Pretzel City," is a small city with a rich history and a population of approximately 23,000. The city has faced economic challenges, particularly with the decline of manufacturing industries, but remains home to significant employers like The Helm Group, The Morse Group, FHN Hospital, and Freeport School District No. 145. Freeport's historical significance is highlighted by the Lincoln-Douglas Debate Square, commemorating the 1858 Senate debate between Abraham Lincoln and Stephen A. Douglas. Attractions include Little Cubs Field, a replica of Wrigley Field, and Krape Park, featuring a vintage carousel and a waterfall. The city also boasts two public golf courses, Park Hills and The Freeport Club. Freeport's downtown area is undergoing revitalization efforts, with events like Pretzel City Brewfest and Music on Chicago concerts contributing to the lively atmosphere. The Lindo Theatre, a historic landmark, remains a downtown gem. Despite some economic uncertainties, Freeport offers affordable housing options, with median home prices around $120,000 and move-in ready bungalows and Craftsman homes starting at $50,000. However, the west side of Freeport has experienced flooding issues, impacting home prices in that area. U.S. Route 20 and Illinois Route 26 provide access to nearby cities, with Chicago O’Hare International Airport located 100 miles away.
Frequently Asked Questions
How much does it cost to rent a home in Freeport, IL?
The median rent for a home in Freeport, IL is $1,300 per month, though prices vary by neighborhood, size, and property type. As of July 2026, single-family homes tend to be the most affordable option while condos and townhouses are currently more expensive.
How much do you need to make to afford rent in Freeport, IL?
To comfortably afford the median rent in Freeport, IL, a household needs to earn roughly $52,000 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 $1,300 per month in Freeport, IL, renters typically need to show $3,900 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 Freeport, IL?
In Freeport, IL, the price-to-rent ratio is 8.0, 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.
There are currently 1 homes available for rent in Freeport, IL. The median rent is $1,300 per month, with single-family homes renting at $1,300, townhouses at $1,695 and condos at $1,595.
Number of Homes for Rent
1
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Median Single Family Home Rent
$1,300
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Median Townhouse Rent
$1,695
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