Cheap Apartments for Rent in Frankfort, IN from $625 (58 Rentals)

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

Rent According to Income: A Look at Income-Restricted Rentals

Find income-restricted rentals and housing subsidies. Explore government programs designed to help low-income families secure stable, affordable housing.

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Spring Brook Apartments
1 to 3 Bedroom Apartments

Spring Brook Apartments

701 Stone Ridge DrFrankfort, IN 46041
  • Utilities Included

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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How I Find the Perfect Rental for My Clients: A Real Estate Pro's Guide

Finding the right apartment starts with three things: location, cost, and amenities. Get the insider perspective from a real estate professional on how to nail all three.

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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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The Brakeman Apartments
Studio to 2 Bedroom Apartments

The Brakeman Apartments

230 S Lebanon StLebanon, IN 46052
Corporate Housing

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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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 402 South Main St priced from $750. Blackhawk Commons in the Cicero Arcadia neighborhood has the second lowest priced unit, which is a 1 Bed apartment currently listed from $890. Here is today’s list of the most affordable Frankfort apartments for rent:

Apartment ListingModel NameBed/BathPriced From
402 South Main St1bd/1bth1BR,1BA$750
Blackhawk Commons1 Bedroom1BR,1BA$890
Village Square Apartments1x1A R1BR,1BA$899
Georgetown South1 Bedroom1BR,1BA$900
Chauncey Village1 Bedroom 1 Bath1BR,1BA$925
451 Lebanon Apartments1D1BR,1BA$990
Deerfield Commons ApartmentsDigby1BR,1BA$1,000
Waterford CourtTwo Bed One Bath (CN1)2BR,1BA$1,046
Eastgate Townhomes2 Bed 1 Bath Townhome2BR,1BA$1,050
Pheasant RunThe Dove 2 BR 1 BA2BR,1BA$1,062

Best Value Apartments for Rent in Frankfort, IN and Nearby

As of September 12, 2026 the best value apartment in the Frankfort area is the $1.17 price per square foot 2 Bed/2 Bath Model at Cross Winds Apartments in the starting from $1,250. The second greatest value Frankfort apartment is the The Juniper Model at The Ravine Apartment Homes starting at $1,147 with a $1.11 price per square foot . 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.
Cross Winds Apartments2 Bed/2 Bath2BR,2BA$1.17
The Ravine Apartment HomesThe Juniper2BR,1.5BA$1.11
Ashley Oaks Apartments2BR1.5BR2BR,1.5BA$1.22
Blackhawk Commons2 Bedroom2BR,1BA$1.13
Waterford CourtTwo Bed One Bath (CN1)2BR,1BA$1.14
1157 S Prairie St, Unit #1 11571157 S Prairie St2BR,1BA$1.33
Eastgate Townhomes2 Bed 1 Bath Townhome2BR,1BA$1.22
Amelia Place ApartmentsSBStudio ,1BA$1.34
Georgetown South2 Bedroom2BR,1BA$1.31
402 South Main St1bd/1bth1BR,1BA$1.00

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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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.

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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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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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Frankfort, IN

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

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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 Amelia Place Apartments listed at $1,098.

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

The lowest price for a Cheap One Bedroom Frankfort Apartment is $750 at 402 South Main St.

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 $1,045 at Chauncey Village.

What is the most affordable Frankfort Three Bedroom Apartment?

The best deal on a cheap Frankfort Three Bedroom Apartment rental is at Twyckenham Apartments and starts from $1,475.

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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Rent According to Income: A Look at Income-Restricted Rentals

Written by: Robin Stewart

The idea of affordable housing can be subjective. Every individual is in a different place financially and vocationally. What one may easily afford could be a struggle for someone else.

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Exploring Rental Options: Apartments, Townhomes, and Lofts - Oh My!

Written by: Robin Stewart

Where do you see yourself? When you think of home, sweet home, are you in a 3/2 apartment? Dreaming of a tall townhome? Maybe an industrial loft heavy on cool vibes is on your visioning board.

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Practical Tips for Renters: How to Identify a Great Rental and Avoid Red Flags

Written by: Robin Stewart

Renters want to find a great apartment, the right place for them, one that checks all the boxes of location, rental cost, amenities, safety, and more.

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First Apartment Regrets: Real Renters Share What They'd Do Differently

Written by: Robin Stewart

Hindsight is 20/20. Live and Learn. With age comes wisdom. We’re familiar with all those expressions, and all of them apply to lessons first-time renters learn.