1032 Shagbark Rd
New LenoxIL60451
Cheap Homes for Rent in Frankfort, IL from $1,700 (8 Rentals)
Search the lowest-cost Homes available for rent right now in Frankfort.
5104 Augusta Blvd
MoneeIL60449
249 Franklin Ave
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.
17950 Michael Ave
Country Club HillsIL60478
16724 Hillside Pl
Tinley ParkIL60477
22230 Latonia Ln
Richton ParkIL60471
411 Huron St
Park ForestIL60466
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.
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Frankfort, IL Local Guide
How much does it cost to rent a home in Frankfort?
| Bedroom | Average Rent | Cheapest Rent | Highest Rent |
|---|---|---|---|
| Frankfort 2 Bedroom Homes for Rent | $2,199 | $1,700 | $2,695 |
| Frankfort 3 Bedroom Homes for Rent | $2,892 | $1,799 | $4,500 |
| Frankfort 4 Bedroom Homes for Rent | $3,240 | $2,200 | $4,500 |
| Frankfort 5 Bedroom Homes for Rent | $2,892 | $2,600 | $3,185 |
Browse Top Homes for Rent in Frankfort
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Frankfort, IL Local Guide
- Nearby Cities
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Cheapest Available Frankfort Apartments for Rent and Nearby
The cheapest available apartment rental in Frankfort, IL is a Studio unit found at Crest Apartments in the University Park neighborhood priced from $800. Linden Park Apartments in the Downtown Park Forest neighborhood has the second lowest priced unit, which is a Studio apartment currently listed from $1,050. 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 |
| Linden Park Apartments | Studio A | Studio,1BA | $1,050 |
| Carriage Creek Apartments | Studio Mid-Rise | Studio,1BA | $1,135 |
Best Value Apartments for Rent in Frankfort, IL and Nearby
As of July 15, 2026 the best value apartment in the Frankfort area is the $1.55 price per square foot 3BR/3.5BA Model at Alice Mae Townhomes in the in the Orland Crossing neighborhood starting from $3,399. The second greatest value Frankfort apartment is the 3 Bedroom Model at 15122 Quail Hollow Dr starting at $1,900 with a $1.52 price per square foot in the Meadow Park 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 | $1.55 |
| 15122 Quail Hollow Dr | 3 Bedroom | 3BR,2BA | $1.52 |
| Dynasty House Apartments | 3 Bedroom UNIV | 3BR,2BA | $1.86 |
| Heritage Manor | 1BR/1BATH | 1BR,1BA | $1.53 |
| Park Towers Apartments | 2 Bed 2 Bath A Remodel | 2BR,2BA | $1.86 |
| Olympic Village Apartments | The Maple | 2BR,1BA | $1.60 |
| Cedar Ridge Apartments | 2 Bed 1 Bath | 2BR,1BA | $1.72 |
| Maple Leaf Apartments | Garden | 1BR,1BA | $1.66 |
| Westbridge Apartments | 1 Bed 1 Bath B Renovated | 1BR,1BA | $1.77 |
| Crest Apartments | Studio | Studio ,1BA | $1.78 |
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 Article
Real Estate and Rental Term Glossary | ApartmentHomeLiving.com Renter University
From the letter A all the way to the letter Z, the Real Estate and Rental Term Glossary from the content team at ApartmentHomeLiving.com provides our visitors and shoppers with a little clarity and helpful guidance in navigating the real estate world through definitions and explainers for the top subjects and terms that someone may come across during the leasing, buying, or selling process.
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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 (2676)
8 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 66 Apartments for Rent in Frankfort, IL with pricing that ranges from $800 to $18,622. There are also 36 Single Family Homes for rent, Condos, and Townhome rentals currently available in Frankfort ranging from $1,700 to $4,500.
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 $1,700 to $4,500 with an average monthly rent of $2,805.
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 $1,036 to $3,996, while Three Bedroom Homes, Condos, and Townhomes for rent range from $1,799 to $4,500. Four Bedroom Single-Family rentals are also available starting from $2,200 and Four Bedroom Apartments start at $3,391.
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
Renters Insurance 101: What It Is, What It Covers, and Why You Need It
Written by: Robin Stewart
Insurance seems to be a part of life. In some states, having insurance is the law, as is the case for automobile insurance. Renters are no exception.
Apartment Occupancy Rates: Renter Attraction vs Renter Retention
Written by: Robin Stewart
There’s a tenet in marketing about client or customer attraction and retention. Studies and data have consistently shown it costs less to keep a current customer than to attract a new one.
How I Find the Perfect Rental for My Clients: A Real Estate Pro's Guide
Written by: Robin Stewart
Evaluating rental properties for clients draws many parallels to house-hunting. Whether an apartment, loft, townhouse, or other rental, finding the right place means finding “home” for your client.
Pet-Friendly Renting: Everything You Need to Know Before You Move
Written by: Christine Leonard, Esq.
For so many of us, pets are the best companions and a big part of our lives. For this reason, a pet-friendly house or apartment is often a very important - and nonnegotiable - part of a move.