Rent to own Homes in Frankfort, IL

The village of Frankfort, located in Will and Cook counties, is the 36th fastest growing suburb in the United States. Although the area once served as a connection between the Des Plaines and St. Joseph rivers for the native Sac, Fox and Potawatomi tribes, pioneers began to settle the area in the 1830s. Today, Frankfort is a village that provides a home to over 17,000 residents who benefit from Frankfort's quiet surroundings while enjoying their proximity to The Windy City.

Frankfort, IL is a great place for affordable rent-to-own homes! With a median household income of over $140,731 and a median rent of $1,462, the Frankfort, IL rent-to-own market is more affordable than the traditional housing market which has shown tremendous growth across the U.S. and with it, aggressive competition for home purchases. With the current housing shortage trend it can make it harder to become a homeowner, including in Frankfort, IL. This means higher than average down payments for homes and higher qualification standards for conventional home loans. With a rent-to-own property, tenants are also buyers. You can live in the house for a set amount of time before you purchase it, meaning that you get to know the house, your neighbors, and your community before making the final purchase. This enables you and your family to make the right choice based on both information and experience. Rent-to-own is also a great alternative way to get into a home if you have bad credit or don't have enough saved for a down payment.

Check out Frankfort, IL rent to own homes for sale, which may include auction properties, for sale by owner, and more.
Showing 1 - 44 of 176
12A Kingery Quarter Rd #104
Rent To Own
 
Single Family Home
Willowbrook, IL 60527
1
1
800 ft2
1981
956 W 115TH PL
Rent To Own
Morgan Park
Townhouse/Condo
Chicago, IL 60643
3
2
731 ft2
1966
7343 Country Creek Way UNIT 4
Rent To Own
 
Single Family Home
Downers Grove, IL 60516
2
2
972 ft2
1975
Hot
9519 S FOREST AVE
Rent To Own
Roseland
Single Family Home
Chicago, IL 60628
3
2
1100 ft2
1960
14701 W 93rd Ave
Rent To Own
 
Single Family Home
Dyer, IN 46311
3
3
1822 ft2
7115 S SAINT LAWRENCE AVE
Rent To Own
Park Manor
Townhouse/Condo
Chicago, IL 60619
6
4
2773 ft2
1890
1 of 38 8724 S ESSEX AVE
Rent To Own
South Chicago
Single Family Home
Chicago, IL 60617
5
3
1987 ft2
1924
5856 S PRAIRIE AVE #3
Rent To Own
Washington Park
Townhouse/Condo
Chicago, IL 60637
3
2
1250 ft2
2004
5739 S CALUMET AVE #3N
Rent To Own
Washington Park
Townhouse/Condo
Chicago, IL 60637
3
2
1400 ft2
1901
3017 E 78th St APT 2B
Rent To Own
South Shore
Single Family Home
Chicago, IL 60649
1
1
800 ft2
1924
1 of 75 5555 S Everett Ave
Rent To Own
 
Single Family Home
Chicago, IL 60637
4
3
2400 ft2
1924
1 of 22 2S110 COLONIAL LN
Rent To Own
 
Single Family Home
Lombard, IL 60148
4
2
1944 ft2
1965
838 S SCOVILLE AVE #1
Rent To Own
 
Townhouse/Condo
Oak Park, IL 60304
1
1
800 ft2
1923
2906 W WILCOX ST
Rent To Own
East Garfield Park
Townhouse/Condo
Chicago, IL 60612
9
3
2832 ft2
1905
1550 S INDIANA AVE #412
Rent To Own
South Loop
Townhouse/Condo
Chicago, IL 60605
2
2
1100 ft2
1905
3648 WHITE EAGLE DR
Rent To Own
White Eagle Club
Single Family Home
Naperville, IL 60564
5
3
2896 ft2
1996
222 N COLUMBUS DR #3203
Rent To Own
The Loop
Townhouse/Condo
Chicago, IL 60601
2
2
1225 ft2
2001
240 E ILLINOIS ST #1708
Rent To Own
Near North Side
Townhouse/Condo
Chicago, IL 60611
2
2
1293 ft2
2005
505 N LAKE SHORE DR #6601
Rent To Own
Near North Side
Townhouse/Condo
Chicago, IL 60611
3
4
2975 ft2
1970
1355 N SANDBURG TER #407D
Rent To Own
Near North Side
Townhouse/Condo
Chicago, IL 60610
1
1
0 ft2
1964
2301 SUMMERLIN DR
Rent To Own
 
Single Family Home
Aurora, IL 60503
2
2
0 ft2
2745 N HAMPDEN CT #2E
Rent To Own
Lincoln Park
Townhouse/Condo
Chicago, IL 60614
3
1
1100 ft2
1916
6704 W FOREST PRESERVE DR
Rent To Own
Harwood Heights
Single Family Home
Harwood Heights, IL 60706
3
3
1326 ft2
1998
541 W 67TH LN
Rent To Own
 
Single Family Home
Merrillville, IN 46410
4
2
1834 ft2
1961
5465 MARYLAND ST
Rent To Own
 
Single Family Home
Merrillville, IN 46410
3
2
1512 ft2
1957
5537 N CANFIELD AVE
Rent To Own
Norwood Park
Single Family Home
Chicago, IL 60656
2
2
1284 ft2
1946
4636 N Racine Ave APT 2, Chicago, IL 60640
Rent To Own
Uptown
Single Family Home
Chicago, IL 60640
2
1
1200 ft2
1906
Hot
636 PEARCES FRD
Rent To Own
 
Single Family Home
Oswego, IL 60543
5
4
2800 ft2
1988
84 PUEBLO RD
Rent To Own
Boulder Hill
Single Family Home
Montgomery, IL 60538
3
1
988 ft2
1960
1748 W Rascher Ave
Rent To Own
Edgewater
Townhouse/Condo
Chicago, IL 60640
2
1
0 ft2
1913
6334 N SHERIDAN RD #3C
Rent To Own
Edgewater
Townhouse/Condo
Chicago, IL 60660
1
1
800 ft2
1928
1 of 2 7620 S CALUMET AVE
Rent To Own
Chatham
Single Family Home
Chicago, IL 60619
4
4
1386 ft2
1921
20120 N WOODLAND CIR
Rent To Own
Mokena
Single Family Home
Mokena, IL 60448
3
2
2300 ft2
1946
1 of 10 19917 SILVERSIDE DR
Rent To Own
Brookside Glen
Single Family Home
Tinley Park, IL 60487
4
3
3113 ft2
2019
20301 S Pine Hill Rd 2
Rent To Own
Frankfort Square
Townhouse/Condo
Frankfort, IL 60423
3
2
1794 ft2
2005
Hot
1 of 19 7304 SOUTHWICK DR
Rent To Own
 
Single Family Home
Frankfort, IL 60423
4
3
3338 ft2
1996
21453 S 80TH AVE
Rent To Own
 
Single Family Home
Frankfort, IL 60423
4
3
23000 ft2
1966
Hot
1 of 18 22483 PORT WELLER CT
Rent To Own
 
Single Family Home
Frankfort, IL 60423
4
3
3200 ft2
2004
1 of 40 9347 BLUE STEM CIR
Rent To Own
 
Single Family Home
Frankfort, IL 60423
2
2
2350 ft2
2014
1 of 26 20163 CRYSTAL LAKE WAY
Rent To Own
Mokena
Townhouse/Condo
Frankfort, IL 60423
3
3
1951 ft2
2002
1 of 11 20017 BOYNE DR
Rent To Own
Brookside Glen
Single Family Home
Tinley Park, IL 60487
4
3
3113 ft2
2020
Hot
1 of 29 19823 MULROY CIR
Rent To Own
Tinley Park
Single Family Home
Tinley Park, IL 60487
3
3
2087 ft2
2013
Hot
1 of 20 19819 MULROY CIR
Rent To Own
Tinley Park
Single Family Home
Tinley Park, IL 60487
3
3
2235 ft2
2014
Hot
1 of 35 7622 W LAKESIDE DR
Rent To Own
Frankfort Square
Single Family Home
Frankfort, IL 60423
3
3
2400 ft2
1991
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60423 rent to own homes

Buying a Home in Frankfort, IL

Frankfort, IL is seeing rapid growth and Frankfort, IL's' housing market remains not optimal with an average home price that is 73% above the 2024 national average. Frankfort, IL is part of Will county and taxes are an important factor to consider when purchasing a home whether through rent to own or a traditional purchase. The average tax rate as of 2024 for county Will is 2.05% which is above the national average, which is 0.99%.

Median Home Price in Frankfort, IL

Median Rent in Frankfort, IL

Rent to own homes offer low monthly payments and flexible terms.

7 Reasons to Live in Frankfort, Illinois

Recent job growth is positive! Newcomers to the area will take comfort in Frankfort's recent job growth. Whether its due to an improving economy, or the village's proximity to Chicago, employment options abound. Over the last year, job growth has improved .85 percent. See this bustling town in action at Aurelio's Pizza or at Frankfort Town Center Shopping Center.

Proximity to Chicago, Illinois! Frankfort is a part of the Chicago-Naperville-Joliet Metro area, so it's only a hop, skip and jump from the multiple amenities that The Windy City provides. Enjoy the short commute for a day exploring Chicago's famous Field Museum or enjoy the Bears game at Soldier Field.

Enjoy historic buildings and museums! If you don't care to drive all the way into downtown Chicago for stimulation, feel free to check out the local sights and scenes in Frankfort. The Frankfort Historical Society Museum on Kansas Street is open Wednesday through Sunday. If there are young folks around, they'll get a kick out of the KidsWork Children's museum on White Street. If museums aren't your thing, go for a stroll in Historic Downtown Frankfort, where you'll find a variety of unique shops and dining options.

Relax in the out-of-doors! When the weather's nice, Frankfort residents hop on their bicycles and head down the 21-mile Old Plank Road Trail bike path. The area features native plants and woodlands for natural scenery. If you'd rather be on the green, go play a round of golf at the Prestwick Country Club.

Home appreciation is on the rise! Although home prices in Frankfort have dipped over the last ten years, recent appreciation has been positive. Over the last 12 months, homes in Frankfort have appreciated 8.1 percent, which is almost twice the national average. For the most reasonable home prices, take a look in the Frankfort Square neighborhood, where median home prices hover around $215,258.00. This neighborhood is the location of Island Prairie Park and Community Center and Hunter Prairie park.

Most homes are owner occupied! Although many towns have a high rate of owner occupation, Frankfort boasts a homeownership rate of over 90 percent. If you're looking for that perfect rent to own property, check out the Lincoln Estates neighborhood near Hickory Creek, where vacancies are 7.9 percent. The median home price in this neighborhood is $306,347.

Peaceful suburb on the city's doorstep! If you're looking for that one of a kind community with the amenities of the big city but without the noise, look no further than Frankfort. This quiet town is a perfect respite away from all the stresses of city life. Spend your days relaxing in the Hickory Creek Preserve park or over at the Sauk Trail Reservoir.