Cheap Apartments for Rent in Frankfort, IL from $800 (58 Rentals)

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

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.

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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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property at 11212 1st St

$1,575

2 Bedroom Rentals

Available Now

11212 1st St

MokenaIL60448

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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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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7449 Sycamore Ct
2 Bedroom Apartments

7449 Sycamore Ct

7449 Sycamore CtOrland Park, IL 60462
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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
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Apartments of Orland
1 to 2 Bedroom Apartments

Apartments of Orland

16005 Applewood LnOrland Hills, IL 60487
  • Utilities Included

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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7081 Apartments
1 to 2 Bedroom Apartments

7081 Apartments

7081 170th StTinley Park, IL 60477
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16601 Jean Ln
1 Bedroom Apartments

16601 Jean Ln

16601 Jean LnTinley Park, IL 60477
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1014 Shagbark Rd
2 Bedroom Apartments

1014 Shagbark Rd

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

15805 Peggy Lane

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

6607 181st St

6607 181st StTinley Park, IL 60477

Renters Insurance 101: What It Is, What It Covers, and Why You Need It

From theft to fire to water damage, the unexpected can happen to any renter. Discover why renters insurance is one of the smartest and most affordable investments you can make as a tenant.

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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. Carriage Creek Apartments in the Lincoln Station neighborhood has the second lowest priced unit, which is a 1 Bed apartment currently listed from $1,210. Here is today’s list of the most affordable Frankfort apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Crest ApartmentsStudioStudio,1BA$800
Carriage Creek Apartments1 Bed 1 Bath Garden B1BR,1BA$1,210
Edgewater Walk Apartments1BR1BR,1BA$1,285
Dynasty House Apartments1 Bedroom UNIV1BR,1BA$1,305
Maple Leaf ApartmentsMid-rise1BR,1BA$1,320
Park Towers Apartments1 Bed 1 Bath A1BR,1BA$1,395
Oakwood Townhomes1 Bedroom 1 Bath Townhomes Updated1BR,1BA$1,425
Olympic Village ApartmentsThe Maple2BR,1BA$1,440
Heritage Manor1BR/1BATH1BR,1BA$1,450
7349 175th St1 bed /1 bath1BR,1BA$1,500

Best Value Apartments for Rent in Frankfort, IL and Nearby

As of July 05, 2026 the best value apartment in the Frankfort area is the $1.40 price per square foot 3BR/3.5BA Model at Alice Mae Townhomes in the in the Orland Crossing neighborhood starting from $3,090. The second greatest value Frankfort apartment is the oak forest single family Home Model at 15930 Laramie Ave starting at $2,095 with a $1.06 price per square foot in the Country Aire 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$1.40
15930 Laramie Aveoak forest single family Home3BR,2BA$1.06
Central Park2 Bedroom 1 Bath Townhouse2BR,1BA$1.26
15122 Quail Hollow Dr3 Bedroom3BR,2BA$1.52
Linden Park Apartments3 Bed 1.5 Bath A3BR,1.5BA$1.62
Westbridge Apartments2 Bed 2 Bath Renovated2BR,2BA$1.61
Heritage Manor1BR/1BATH1BR,1BA$1.53
Olympic Village ApartmentsThe Maple2BR,1BA$1.60
Maple Leaf ApartmentsGarden1BR,1BA$1.66
Edgewater Walk Apartments1BR1BR,1BA$1.58

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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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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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.

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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

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See the most popular apartments and homes in Frankfort, IL

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Frequently Asked Questions about Cheap Frankfort Apartments

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

The lowest price for a Cheap One Bedroom Frankfort Apartment is $1,210 at Carriage Creek 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 $1,310 at Carriage Creek Apartments.

What is the most affordable Frankfort Three Bedroom Apartment?

The best deal on a cheap Frankfort Three Bedroom Apartment rental is at Linden Park Apartments and starts from $1,715.

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 Renters Insurance 101: What It Is, What It Covers, and Why You Need It article

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.

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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.

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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.

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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.