Cheap Apartments for Rent in Frankfort, IL from $800 (18 Rentals)

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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.

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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.

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Pine Ridge
1 to 2 Bedroom Apartments

Pine Ridge

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

Autumn Ridge

119 E Sycamore DrPark Forest, IL 60466
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Central Park
1 to 3 Bedroom Apartments

Central Park

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

7448 Sycamore Ct

7448 Sycamore CtOrland Park, IL 60462
  • Utilities Included

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.

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Frankfort, IL Local Guide

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. The Shields has the second lowest priced unit, which is a 2 Beds apartment currently listed from $979. Here is today’s list of the most affordable Frankfort apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Crest ApartmentsStudioStudio,1BA$800
The Shields2 Bedroom2BR,1BA$979
Carriage Creek Apartments1 bedroom2BR,1BA$1,025
Edenbridge ApartmentsSenior Living 1x11BR,1BA$1,150
Olympic Village ApartmentsThe Pine1BR,1BA$1,201

Best Value Apartments for Rent in Frankfort, IL and Nearby

As of November 01, 2025 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 Townhouse Model at Oakwood Townhomes starting at $1,825 with a $1.35 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 Townhouse3BR,1BA$1.35
The Shields2 Bedroom2BR,1BA$1.00
Heritage Manor1BR/1BATH1BR,1BA$1.53
Park Towers Apartment HomesTwo Bedroom 2 Bath-910 sqft2BR,2BA$1.77
Carriage Creek Apartments2 bedroom2BR,1BA$1.42
Richton Trail2 Beds, 1 bath2BR,1BA$1.71
Olympic Village ApartmentsThe Spruce1BR,1BA$1.89
Dynasty House Apartments1 Bedroom UNIV1BR,1BA$1.68
Crest ApartmentsStudioStudio ,1BA$1.78

Apartment Common Area Rules: What Renters Need to Know

From the lounge to the laundry room, understand your rights and responsibilities in shared apartment spaces. Get tips on pet rules, noise, and security.

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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.

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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.

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Best Local Schools in
Frankfort, IL

School data provided by Great Schools

Remember the 3 Rules of Real Estate:
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Getting Around Frankfort, IL

Walk Score®

28 / 100

Car-Dependent

Most errands require a car

Bike Score®

41 / 100

Somewhat Bikeable

Minimal bike infrastructure

What Are Walk Score®, Transit Score®, and Bike Score® Ratings?

  • Walk Score® measures the walkability of any address.
  • Transit Score® measures access to public transit.
  • Bike Score® measures the bikeability of any address.

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 $875 at Crest Apartments.

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 $979 at The Shields.

What is the most affordable Frankfort Three Bedroom Apartment?

The best deal on a cheap Frankfort Three Bedroom Apartment rental is at Olympic Village Apartments and starts from $1,640.

Expert Rental Resources

Helpful Apartment Articles, How-To's and Tips

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.

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Apartment Common Area Rules: What Renters Need to Know

Written by: Christine Leonard, Esq.

Back in the day when I rented one of my first apartments, the property didn’t even have laundry in the building. Now, rental properties are often competing against each other to provide the best amenities.

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How to Negotiate Your Apartment Lease and Save Money

Written by: Christine Leonard, Esq.

Everything is a negotiation in real estate! 

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The Rental Move-In Inspection Checklist: A Guide for Renters

Written by: Trey Huguley

The move-in inspection checklist is a crucial tool for both tenants and landlords. This checklist, provided by the team at ApartmentHomeLiving.com, helps document the condition of an apartment at the time of move-in.

decorative image for Your Guide to Co-Signers: The Risks, Rewards, and Everything in Between article

Your Guide to Co-Signers: The Risks, Rewards, and Everything in Between

Written by: Christine Leonard, Esq.

For many people, obstacles can arise during the rental application process for a variety of issues.