Cheap Apartments for Rent in Frankfort, IL from $800 (47 Rentals)

How Many Bedrooms?Done
Select your price rangeDone
to
Note: Properties with the Total Monthly Price badge include all required fees. Hover over the badge for details.
Lifestyle Matching SearchDone
Learn more about Lifestyle Search
By AmenitiesDone
By Community TypeDone
Features and AvailabilityDone
Done

Search the lowest-cost Apartments available for rent right now in Frankfort.

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.

Read Article

Roommate Matching: Finding the Right Fit and Avoiding Pitfalls

When searching for a roommate, follow this list of essential steps and set clear expectations to create a solid foundation for a harmonious living situation.

Read Article
close
View Me
Springs at Lockport
Rent Specials
$1,678 - $3,451
Total Monthly Price

Total Monthly Price

Base Rent
$1,519 - $3,292
Required Monthly Fees
Varies
Total Monthly Price
Varies
Studio to 3 Bedroom Apartments Available Now

Springs at Lockport

16551 W Springs CirLockport, IL 60441
Luxury
  • Verified
  • Smoke Free

The Art of the Rental Viewing: What to look for during a property tour

Touring a rental? This guide helps you know exactly what to look for, from safety features to hidden flaws, so you can confidently sign your lease or keep searching.

Read Article
close
View Me
Pine Ridge
1 to 2 Bedroom Apartments

Pine Ridge

1112 Parkwood DrJoliet, IL 60432
  • Utilities Included
close
View Me
Autumn Ridge
Studio to 3 Bedroom Apartments

Autumn Ridge

119 E Sycamore DrPark Forest, IL 60466
close
View Me
7449 Sycamore Ct
2 Bedroom Apartments

7449 Sycamore Ct

7449 Sycamore CtOrland Park, IL 60462
  • Utilities Included
close
View Me
Central Park
1 to 3 Bedroom Apartments

Central Park

11 Fir StPark Forest, IL 60466
close
View Me
7448 Sycamore Ct
1 to 2 Bedroom Apartments

7448 Sycamore Ct

7448 Sycamore CtOrland Park, IL 60462
  • Utilities Included
close
View Me
Apartments of Orland
1 to 2 Bedroom Apartments

Apartments of Orland

16005 Applewood LnOrland Hills, IL 60487
  • Utilities Included

Smart Renter's Guide: Calculating Affordable Rent & Housing Costs

Wondering how to determine your rental budget? This comprehensive guide covers everything from the 30% rule to hidden fees and effective budgeting strategies.

Read Article
close
View Me
7081 Apartments
1 to 2 Bedroom Apartments

7081 Apartments

7081 170th StTinley Park, IL 60477
close
View Me
1014 Shagbark Rd
2 Bedroom Apartments

1014 Shagbark Rd

1014 Shagbark RdNew Lenox, IL 60451
  • Utilities Included
close
View Me
15805 Peggy Lane
2 to 3 Bedroom Apartments

15805 Peggy Lane

15805 Peggy LnOak Forest, IL 60452
close
View Me
6607 181st St
2 Bedroom Apartments

6607 181st St

6607 181st StTinley Park, IL 60477

Navigating the Rental Market: Tips for First-Time Renters

Entering the rental market? Learn these simple tips and strategies to avoid common pitfalls and make confident choices. Rent with peace of mind.

Read Article
Showing Results 1-47, Page 1 of 1

Frankfort, IL Local Guide

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. Linden Park Apartments in the Downtown Park Forest neighborhood has the second lowest priced unit, which is a Studio apartment currently listed from $1,040. Here is today’s list of the most affordable Frankfort apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Crest ApartmentsStudioStudio,1BA$800
Linden Park ApartmentsStudio AStudio,1BA$1,040
723 Grant Ave1BR/1.0BA1BR,1BA$1,100
Thornwood Apartments2x1 8532BR,1BA$1,175
Edenbridge ApartmentsED1.5991BR,1BA$1,185
Carriage Creek Apartments1 Bed 1 Bath Mid-Rise B (Heat Included)1BR,1BA$1,230
Manchester Court Apartments2BR/1BA2BR,1BA$1,305
Maple Leaf ApartmentsMid-rise1BR,1BA$1,320
Westbridge Apartments1 Bed 1 Bath B Renovated1BR,1BA$1,395
Dynasty House Apartments2 Bedroom UNIV2BR,1BA$1,425

Best Value Apartments for Rent in Frankfort, IL

As of April 06, 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 ListingModel NameBed/BathPrice Per Sq.Ft.
Alice Mae Townhomes3BR/3.5BA3BR,3.5BA$1.47
Oakwood Townhomes3 Bedroom 1 Bath Townhome Renovated3BR,1BA$1.48
Parkview Estates2BR/1.5BA2BR,1.5BA$1.66
Heritage Manor1BR/1BATH1BR,1BA$1.53
Maple Leaf ApartmentsMid-rise2BR,1.5BA$1.59
Olympic Village ApartmentsThe Maple2BR,1BA$1.60
Cedar Ridge Apartments2 Bed 1 Bath2BR,1BA$1.72
Dynasty House Apartments2 Bedroom UNIV2BR,1BA$1.63
Thornwood Apartments2x1 8532BR,1BA$1.38
723 Grant Ave1BR/1.0BA1BR,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
Decorative image

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
Decorative image

The 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 Article
Decorative image

Cash 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 Article
Decorative image

Quick 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.

decorative image of people with a giant lease agreement

Best Local Schools in
Frankfort, IL

School data provided by Great Schools

Remember the 3 Rules of Real Estate:
Location, Location, Location!

Explore Frankfort, IL Rentals by Map

Decorative image of map

See the most popular apartments and homes in Frankfort, IL

View Map
Frankfort, IL Apartments Map
View Map
Frankfort, IL Rental Homes Map

Frequently Asked Questions about Cheap Frankfort Apartments

What is the Cheapest Studio apartment in Frankfort?

Currently the most affordable Cheap Studio Apartment in Frankfort is at Crest Apartments listed at $800.

How much is rent for a Cheap One Bedroom Frankfort Apartment?

The lowest price for a Cheap One Bedroom Frankfort Apartment is $1,100 at 723 Grant Ave.

What is the lowest price for a Cheap Two Bedroom Frankfort Apartment for rent?

Today's best deal for a Cheap Two Bedroom Apartment in Frankfort is starting from $1,175 at Thornwood Apartments.

What is the most affordable Frankfort Three Bedroom Apartment?

The best deal on a cheap Frankfort Three Bedroom Apartment rental is at Oakwood Townhomes and starts from $1,825.

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

decorative image for Maximizing Your Refund: Essential Tax Tips for Renters article

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.

decorative image for 18 Must-Ask Rental Tour Questions That Reveal the Truth about a Property article

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.

decorative image for A Renters Guide for Tips on Writing Your Notice for Not Renewing Your Apartment article

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.

decorative image for Renting with Roommates: Realistic Expectations for Shared Lease article

Renting with Roommates: Realistic Expectations for Shared Lease

Written by: Christine Leonard, Esq.

Given the high costs for housing, I have found that many people are looking for a roommate to share expenses. These arrangements can increase opportunities for more desirable and larger spaces.