Above, you'll find an overview of the real estate market in Frankfort, IL. Generally, real estate in the Frankfort, IL area is less affordable in Illinois, as the median price of a home in Frankfort, IL is $351,200, which is 101% higher than the Illinois average. The median rental price in Frankfort, IL is $1,750. This is 89% higher than the average rental price in Illinois. Home owners comprise 94.8% of the population of Frankfort, IL, where an average of 2.7 people live in each home. Various real estate options from luxurious homes to affordable condos and urban townhomes are available in Frankfort, IL. Below, you can search for real estate listings in Frankfort, IL using our search functionality that allows you to personalize your search and filter out location, price, and number of bedrooms and bathrooms.