Cheap Apartments for Rent in Frankfort, IL from $800 (57 Rentals)

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

property at 7724 W Douglas Ct

$2,300

Total Monthly Price

Total Monthly Price

Base Rent
$2,300
Total Monthly Price
$2,300

3 Bedroom, 1 Bath Home for Rent

Available Now

7724 W Douglas Ct

FrankfortIL60423

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

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Pine Ridge
1 to 2 Bedroom Apartments

Pine Ridge

1112 Parkwood DrJoliet, IL 60432
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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
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7081 Apartments
1 to 2 Bedroom Apartments

7081 Apartments

7081 170th StTinley Park, IL 60477

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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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
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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

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.

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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. Thornwood Apartments has the second lowest priced unit, which is a 2 Beds apartment currently listed from $1,175. Here is today’s list of the most affordable Frankfort apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Crest ApartmentsStudioStudio,1BA$800
Thornwood Apartments2x1 8532BR,1BA$1,175
Carriage Creek Apartments1 Bed 1 Bath Garden A1BR,1BA$1,185
Maple Leaf ApartmentsMid-rise1BR,1BA$1,320
Edenbridge ApartmentsED1.599R1BR,1BA$1,340
Linden Park Apartments1 Bed 1 Bath Renovated A1BR,1BA$1,345
Dynasty House Apartments2 Bedroom UNIV2BR,1BA$1,425
Olympic Village ApartmentsThe Maple2BR,1BA$1,440
Heritage Manor1BR/1BATH1BR,1BA$1,450
Cedar Ridge Apartments2 Bed 1 Bath2BR,1BA$1,529

Best Value Apartments for Rent in Frankfort, IL and Nearby

As of May 21, 2026 the best value apartment in the Frankfort area is the $1.72 price per square foot 4BR/3.5BA Model at Alice Mae Townhomes in the in the Orland Crossing neighborhood starting from $3,778. 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 Townhomes4BR/3.5BA4BR,3.5BA$1.72
Oakwood Townhomes3 Bedroom 1 Bath Townhome Renovated3BR,1BA$1.48
15122 Quail Hollow Dr3 Bedroom3BR,2BA$1.52
Heritage Manor1BR/1BATH1BR,1BA$1.53
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
Maple Leaf ApartmentsGarden1BR,1BA$1.66
Crest ApartmentsStudioStudio ,1BA$1.78

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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Frankfort, IL

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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 $1,185 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 $1,175 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 Maple Leaf Apartments and starts from $1,800.

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

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A Seasoned Property Manager's Step-by-Step Guide to Getting Your Deposit Back

Written by: Lauren Harrington

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Expert Solutions for Creating the Perfect Work-From-Home Apartment Layouts

Written by: Lauren Harrington

This article is based on first-hand experience managing apartment communities and helping renters adapt to their spaces after moving in.

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What Does “Rent Burdened” Mean? How Much Rent Is Too Much

Written by: Lauren Harrington

This article draws from first-hand renter experiences and recurring financial challenges reported after moving in.

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