1101 S Cedar Rd
New LenoxIL60451
Cheap Homes for Rent in Frankfort, IL from $1,000 (11 Rentals)
Search the lowest-cost Homes available for rent right now in Frankfort.
4442 Ascot Ct
Richton ParkIL60471
16736 Paxton Ave
Tinley ParkIL60477
20137 S Hampton Ct
FrankfortIL60423
4020 216th St
MattesonIL60443
What Does “Rent Burdened” Mean? How Much Rent Is Too Much
Learn the official definition (spending 30% or more of your gross income on housing) and how to calculate your exact rent-to-income ratio. This guide offers expert tips on factoring in total housing costs (including utilities and fees) and budgeting accurately to avoid unnecessary financial strain.
7131 Hickory St
Tinley ParkIL60477
3830 217th St
MattesonIL60443
8342 W Lincoln Hwy
FrankfortIL60423
16649 Oak Park Ave
Tinley ParkIL60477
16749 Paxton Ave
Tinley ParkIL60477
Your Guide to Co-Signers: The Risks, Rewards, and Everything in Between
Thinking about getting a co-signer for your rental application? We break down what a co-signer is, the potential benefits, and the serious risks for both parties. Find out if it's the right choice for you.
11248 193rd St
MokenaIL60448
Showing Results 1-11, Page 1 of 1
Frankfort, IL Local Guide
Grassy field in Illinois by Ed Summers is licensed under CC BY 2.0
How much does it cost to rent a home in Frankfort?
| Bedroom | Average Rent | Cheapest Rent | Highest Rent |
|---|---|---|---|
| Frankfort 2 Bedroom Homes for Rent | $2,607 | $2,000 | $3,400 |
| Frankfort 3 Bedroom Homes for Rent | $2,714 | $1,800 | $3,500 |
| Frankfort 4 Bedroom Homes for Rent | $2,948 | $2,700 | $3,150 |
Browse Top Homes for Rent in Frankfort
Explore Frankfort
Frankfort, IL Local Guide
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Cheapest Available Frankfort Apartments for Rent
The cheapest available apartment rental in Frankfort, IL is a Studio unit found at Crest Apartments in the University Park neighborhood priced from $800. 723 Grant Ave has the second lowest priced unit, which is a 1 Bed apartment currently listed from $1,100. Here is today’s list of the most affordable Frankfort apartments for rent:
| Apartment Listing | Model Name | Bed/Bath | Priced From |
|---|---|---|---|
| Crest Apartments | Studio | Studio,1BA | $800 |
| 723 Grant Ave | 1BR/1.0BA | 1BR,1BA | $1,100 |
| Carriage Creek Apartments | Studio Garden | Studio,1BA | $1,100 |
| Thornwood Apartments | 2x1 853 | 2BR,1BA | $1,175 |
| Edenbridge Apartments | ED1.599 | 1BR,1BA | $1,185 |
Best Value Apartments for Rent in Frankfort, IL
As of April 16, 2026 the best value apartment in the Frankfort area is the $1.47 price per square foot 3BR/3.5BA Model at Alice Mae Townhomes in the in the Orland Crossing neighborhood starting from $3,240. The second greatest value Frankfort apartment is the 3 Bedroom 1 Bath Townhome Renovated Model at Oakwood Townhomes starting at $1,995 with a $1.48 price per square foot in the Lincoln Station neighborhood. Here is today’s list of the best values for Frankfort apartments based on price per square foot:
| Apartment Listing | Model Name | Bed/Bath | Price Per Sq.Ft. |
|---|---|---|---|
| Alice Mae Townhomes | 3BR/3.5BA | 3BR,3.5BA | $1.47 |
| Oakwood Townhomes | 3 Bedroom 1 Bath Townhome Renovated | 3BR,1BA | $1.48 |
| Parkview Estates | 2BR/1.5BA | 2BR,1.5BA | $1.66 |
| Heritage Manor | 1BR/1BATH | 1BR,1BA | $1.53 |
| Maple Leaf Apartments | Mid-rise | 2BR,1.5BA | $1.59 |
| Olympic Village Apartments | The Maple | 2BR,1BA | $1.60 |
| Cedar Ridge Apartments | 2 Bed 1 Bath | 2BR,1BA | $1.72 |
| Dynasty House Apartments | 2 Bedroom UNIV | 2BR,1BA | $1.63 |
| Thornwood Apartments | 2x1 853 | 2BR,1BA | $1.38 |
| 723 Grant Ave | 1BR/1.0BA | 1BR,1BA | $1.57 |
10 Hidden Costs of Renting You Should Budget for Before Signing a Lease
Avoid financial stress when renting. Learn about the 10 most common hidden costs—from pet fees to utilities—you must budget for before you sign a lease.
Read Article
Don't Settle: How to Negotiate Your Apartment Lease and Save Money
Discover the insider tips from an attorney and real estate agent on how to negotiate your next apartment lease. Find out what's on the table and what's not, so you can save money and get the best terms possible.
Read ArticleThe Ultimate Long-Distance Moving Checklist: Tips from a Real Estate Pro
Moving is tough, especially long-distance. Learn how to minimize stress & expenses with proven strategies from a real estate pro, covering everything from logistics to finances.
Read ArticleCash or credit? Understanding the Importance of Credit Score in Real Estate and Renting
Discover how your credit score impacts your ability to lease or buy a home. Learn how credit scores are determined, how to check yours, and strategies to improve it for real estate success.
Read ArticleQuick Rent Budget Calculator
How much rent can you afford?
The common "Rule of Thumb" is that rent should be no more than 30% of your income. How much is that? Enter your monthly income and click "Calculate My Budget" to find out.
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Best Local Schools in Frankfort, IL
Lincoln-Way East High School
Lincoln Way Chsd 210 School District
Public School - Grades 9-12 (2749)
10 out of 10
School data provided by Great Schools
Remember the 3 Rules of Real Estate:Location, Location, Location!
Explore Frankfort, IL Rentals by Map
See the most popular apartments and homes in Frankfort, IL
Frequently Asked Questions about Frankfort
What type of rentals are currently available in Frankfort?
There are currently 65 Apartments for Rent in Frankfort, IL with pricing that ranges from $800 to $17,578. There are also 40 Single Family Homes for rent, Condos, and Townhome rentals currently available in Frankfort ranging from $1,050 to $3,500.
What is the current price range for Rental Homes in Frankfort?
Today's rental pricing for Homes for Rent, Condos and Townhomes in Frankfort ranges from $1,050 to $3,500 with an average monthly rent of $2,329.
How much are larger Three and Four Bedroom Rentals in Frankfort?
For those who are looking for larger living arrangements, Three Bedroom Apartments in Frankfort range from $1,437 to $5,271, while Three Bedroom Homes, Condos, and Townhomes for rent range from $1,800 to $3,500. Four Bedroom Single-Family rentals are also available starting from $2,700 and Four Bedroom Apartments start at $4,069.
Expert Rental Resources
The rental experts at ApartmentHomeLiving.com provide you with top advice, tools, and tips for understanding the leasing process and finding the perfect rental. Here are a few helpful rental and leasing articles from our experts to guide you on your search.
Articles, How-To's, and Tips
What Does “Rent Burdened” Mean? How Much Rent Is Too Much
Written by: Lauren Harrington
This article draws from first-hand renter experiences and recurring financial challenges reported after moving in.
Maximizing Your Refund: Essential Tax Tips for Renters
Written by: Christine Leonard, Esq.
Other than tax professionals, I can’t think of anyone who looks forward to tax season. For everybody else, April is a stressful month to collect information and meet deadlines.
18 Must-Ask Rental Tour Questions That Reveal the Truth about a Property
Written by: Lauren Harrington
Renting your next home can feel thrilling and overwhelming at the same time.
A Renters Guide for Tips on Writing Your Notice for Not Renewing Your Apartment
Written by: Bob Mallory
Packing up everything you own to move is so stressful for many that ending your apartment lease can feel like a small or unimportant task. Ending your lease involves more than simply turning over your keys on the last day.