Cheap Apartments for Rent in Frankfort, IN from $600 (53 Rentals)

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

property at 403 W Boone St

$850

Total Monthly Price

Total Monthly Price

Base Rent
$850
Total Monthly Price
$850

1 Bedroom, 1 Bath Townhome for Rent

Available May 1

403 W Boone St

FrankfortIN46041
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Spring Brook Apartments
1 to 3 Bedroom Apartments

Spring Brook Apartments

701 Stone Ridge DrFrankfort, IN 46041
  • Utilities Included

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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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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Blackhawk Commons
1 to 3 Bedroom Apartments

Blackhawk Commons

503 E 4th StSheridan, IN 46069
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The Brakeman Apartments
Studio to 2 Bedroom Apartments

The Brakeman Apartments

230 S Lebanon StLebanon, IN 46052
Corporate Housing

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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Parkview of Lebanon
1 to 2 Bedroom Apartments

Parkview of Lebanon

346 Longley DrLebanon, IN 46052
Corporate Housing
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CNC Leasing Group
3 Bedroom Apartments

CNC Leasing Group

1117 Hedgewood DrLafayette, IN 47904

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.

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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 Studio unit found at Eastgate Townhomes priced from $650. Blackhawk Commons in the Cicero Arcadia neighborhood has the second lowest priced unit, which is a 2 Beds apartment currently listed from $670. Here is today’s list of the most affordable Frankfort apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Eastgate TownhomesStudioStudio,1BA$650
Blackhawk CommonsTwo Bedroom2BR,1BA$670
Pheasant RunThe Retriever StudioStudio,1BA$766
Waterford CourtStandard One Bedroom (SN1)1BR,1BA$775
Georgetown South1 Bedroom1BR,1BA$900
451 Lebanon Apartments1D1BR,1BA$990
Burberry Place Apartments1 Bedroom, 1 Bathroom1BR,1BA$1,048
Cross Winds Apartments1 Bed/1 Bath1BR,1BA$1,050
Twyckenham ApartmentsTwo bedroom2BR,1BA$1,120
The Ravine Apartment HomesThe Juniper2BR,1BA$1,147

Best Value Apartments for Rent in Frankfort, IN and Nearby

As of April 30, 2026 the best value apartment in the Frankfort area is the $1.31 price per square foot Perrin Model at Precedent Flats | Specials Available in the starting from $1,600. The second greatest value Frankfort apartment is the 2x1.5TH R Model at Village Square Apartments starting at $1,275 with a $1.07 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.
Precedent Flats | Specials AvailablePerrin2BR,2BA$1.31
Village Square Apartments2x1.5TH R2BR,1.5BA$1.07
Sagamore Winds Apartments2 Bed/2 Bath A2BR,2BA$1.38
The Ravine Apartment Homes2 BR UPGRA2BR,1.5BA$1.23
Ashley Oaks Apartments2BR1.5BR2BR,1.5BA$1.18
Windemere Apartments2 bed 1 bath Renovated2BR,1BA$1.35
Twyckenham ApartmentsTwo bedroom2BR,1BA$1.36
Georgetown South2 Bedroom2BR,1BA$1.31
Cross Winds Apartments1 Bed/1 Bath1BR,1BA$1.31
Eastgate TownhomesStudioStudio ,1BA$1.35

10 Hidden Costs of Renting You Should Budget for Before Signing a Lease

Avoid financial stress when renting. Learn about the 10 most common hidden costs—from pet fees to utilities—you must budget for before you sign a lease.

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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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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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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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Frankfort, IN

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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 Eastgate Townhomes listed at $650.

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

The lowest price for a Cheap One Bedroom Frankfort Apartment is $775 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 $670 at Blackhawk Commons.

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

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.

decorative image for What Does “Rent Burdened” Mean? How Much Rent Is Too Much article

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.

decorative image for Maximizing Your Refund: Essential Tax Tips for Renters article

Maximizing Your Refund: Essential Tax Tips for Renters

Written by: Christine Leonard, Esq.

Other than tax professionals, I can’t think of anyone who looks forward to tax season. For everybody else, April is a stressful month to collect information and meet deadlines.

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.