Cheap Apartments for Rent in Frankfort, IN from $500 (29 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.

close
View Me
Spring Brook Apartments
1 to 3 Bedroom Apartments

Spring Brook Apartments

701 Stone Ridge DrFrankfort, IN 46041
  • Utilities Included

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
Anvil 38 Apartments
Rent Specials
$902 - $2,309
Total Monthly Price

Total Monthly Price

Base Rent
$887 - $2,294
Required Monthly Fees
$15
Total Monthly Price
$902 - $2,309
Studio to 3 Bedroom Apartments Available Now

Anvil 38 Apartments

3977 State Rd 38ELafayette, IN 47905
Student Housing
  • Verified
  • Customer Reviewed
  • Utilities Included
close
View Me
451 Lebanon Apartments
$990 - $1,725
Total Monthly Price

Total Monthly Price

Base Rent
$890 - $1,625
Required Monthly Fees
$100
Total Monthly Price
$990 - $1,725
1 to 3 Bedroom Apartments Available Now

451 Lebanon Apartments

451 N Lebanon StLebanon, IN 46052
Student Living
  • Verified
  • 3D Tour
  • 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
Blackhawk Commons
1 to 3 Bedroom Apartments

Blackhawk Commons

503 E 4th StSheridan, IN 46069

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
Showing Results 1-29, Page 1 of 1

Frankfort, IN Local Guide

Cheapest Available Frankfort Apartments for Rent and Nearby

 

The cheapest available apartment rental in Frankfort, IN is a 1 Bed unit found at Waterford Court priced from $735. Turtle Creek Frankfort has the second lowest priced unit, which is a Studio apartment currently listed from $750. Here is today’s list of the most affordable Frankfort apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Waterford CourtStandard One Bedroom (SN1)1BR,1BA$735
Turtle Creek FrankfortEmeraldStudio,1BA$750
STERLING COURT APARTMENTSApartment 1bd1BR,1BA$775
Pheasant RunThe Retriever StudioStudio,1BA$834
Blackhawk CommonsThree Bedroom3BR,2BA$882
Village Square Apartments1x1B1BR,1BA$890
Chauncey Village1 Bedroom 1 Bath1BR,1BA$900
Nickel Plate FlatsCaruso1BR,1BA$950
451 Lebanon Apartments1D1BR,1BA$990
Deerfield Commons ApartmentsDigby1BR,1BA$995

Best Value Apartments for Rent in Frankfort, IN and Nearby

As of January 29, 2026 the best value apartment in the Frankfort area is the $1.39 price per square foot Grand Model at Avalon Bluffs in the starting from $2,200. The second greatest value Frankfort apartment is the Barton 3 Bed Model at Jackson Run Townhomes starting at $1,999 with a $1.32 price per square foot in the Lebanon Whitestown 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.
Avalon BluffsGrand3BR,2BA$1.39
Jackson Run TownhomesBarton 3 Bed3BR,2.5BA$1.32
Windemere Apartments3 bed 2 bath Renovated3BR,2BA$1.10
Sagamore Winds Apartments2 Bed/2 Bath B2BR,2BA$1.40
The Ravine Apartment Homes2 BR UPGRA2BR,1.5BA$1.23
Anvil 38 Apartments2A2BR,2BA$1.41
Cross Winds Apartments1 Bed/1 Bath1BR,1BA$1.25
Nickel Plate FlatsCaruso1BR,1BA$1.34
Chauncey Village1 Bedroom 1 Bath1BR,1BA$1.39
STERLING COURT APARTMENTSApartment 1bd1BR,1BA$1.30

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, IN

School data provided by Great Schools

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

Explore Frankfort, IN Rentals by Map

Decorative image of map

See the most popular apartments and homes in Frankfort, IN

View Map
Frankfort, IN Apartments Map
View Map
Frankfort, IN Rental Homes Map

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 $735 at Waterford Court.

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 $971 at Waterford Court.

What is the most affordable Frankfort Three Bedroom Apartment?

The best deal on a cheap Frankfort Three Bedroom Apartment rental is at Blackhawk Commons and starts from $882.

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 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.

decorative image for Apartment Common Area Rules: What Renters Need to Know article

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.