Cheap Apartments for Rent in Frankfort, KY from $500 (43 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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307 Ridgewood Ln, Unit 4x
$895
Total Monthly Price

Total Monthly Price

Base Rent
$895
Total Monthly Price
$895
2 Bedroom Apartment Available Now

307 Ridgewood Ln, Unit 4x

307 Ridgewood LnFrankfort, KY 40601
Cost Per Sq.Ft.
property at 901 Leawood Dr

$985 - $1,151

1 To 2 Bedroom Rentals

Available Now

901 Leawood Dr

FrankfortKY40601

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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Emily Apartments
1 to 2 Bedroom Apartments

Emily Apartments

325 Brighton Park BlvdFrankfort, KY 40601
Senior Living
  • 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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Fieldstone Apartments
Studio to 2 Bedroom Apartments

Fieldstone Apartments

980 Leawood SqFrankfort, KY 40601
  • Utilities Included

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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Showing Results 1-43, Page 1 of 1

Frankfort, KY Local Guide

Cheapest Available Frankfort Apartments for Rent

 

The cheapest available apartment rental in Frankfort, KY is a 1 Bed unit found at Riverview Apartments priced from $636. The Rickhouse has the second lowest priced unit, which is a 1 Bed apartment currently listed from $725. Here is today’s list of the most affordable Frankfort apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Riverview ApartmentsOne Bedroom One Bath1BR,1BA$636
The Rickhouse1 Bed, 1 bath1BR,1BA$725
WillowoodStudioStudio,1BA$770
903 Crosshill DrOne Bedroom1BR,1BA$795
216 Briar Cliff St1 Bedroom1BR,1BA$795
Juniper Hills ApartmentsStudioStudio,1BA$845
Country HillsTwo Bedroom One Bath2BR,1BA$865
Huntley Ridge East at Hanley Ln.1 Bedroom1BR,1BA$875
Huntley Ridge East at Georgetown Rd1 BR Garden - Georgetown Road1BR,1BA$875
Huntley Ridge East at Forest HillOne Bedroom1BR,1BA$875

Best Value Apartments for Rent in Frankfort, KY

As of June 13, 2026 the best value apartment in the Frankfort area is the $0.71 price per square foot 613 Ridgeview Dr Model at 613 Ridgeview Dr, Unit 613 in the starting from $925. The second greatest value Frankfort apartment is the 307 Ridgewood Ln Model at 307 Ridgewood Ln, Unit 4x starting at $895 with a $0.94 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.
613 Ridgeview Dr, Unit 613613 Ridgeview Dr2BR,1.5BA$0.71
307 Ridgewood Ln, Unit 4x307 Ridgewood Ln2BR,1BA$0.94
Country HillsTwo Bedroom One Bath2BR,1BA$0.94
218 Holmes St, Unit 218 B218 Holmes St2BR,1BA$1.17
Winthrop CourtTwo Bed Two Bath Standard2BR,2BA$1.33
Huntley Ridge East at Hanley Ln.1 Bedroom1BR,1BA$1.17
Huntley Ridge East at Forest HillOne Bedroom1BR,1BA$1.17
The Rickhouse1 Bed, 1 bath1BR,1BA$1.21
903 Crosshill DrOne Bedroom1BR,1BA$1.33
216 Briar Cliff St1 Bedroom1BR,1BA$1.33

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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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, KY

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

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Frankfort, KY Area Reviews

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Val • 3+ years in Frankfort

February 25, 2025

Very boring place to live Frankfort is the worst Capital to live in

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 Riverview Apartments listed at $669.

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

The lowest price for a Cheap One Bedroom Frankfort Apartment is $649 at Riverview 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 $843 at Country Hills.

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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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.

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Creative Ways Developers Reimagine Retail Spaces as Residential Units

Written by: Robin Stewart

Adaptive reuse is when a commercial property is converted and repurposed. The real estate industry has embraced a growing number of these projects.

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Neighborhood and Market Insights: How to Choose the Right Area to Rent

Written by: Robin Stewart

Apartment-hunting can be a gargantuan task. Renters have a wish list of items—some luxuries, some necessities—but finding what you seek in the right place is perhaps the most important part of the journey.