Cheap Apartments for Rent near Frankton, IN from $400 (34 Rentals)

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

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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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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Harter House
Studio to 1 Bedroom Apartments

Harter House

600 Main StAnderson, IN 46016
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Hoosier Woods
1 to 4 Bedroom Apartments

Hoosier Woods

3833 Hoosier Woods CtAnderson, IN 46013

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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Tipton Terrace
1 to 3 Bedroom Apartments

Tipton Terrace

319 Terrace CtTipton, IN 46072
  • 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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Showing Results 1-34, Page 1 of 1

Frankton, IN Local Guide

Cheapest Available Frankton Apartments for Rent and Nearby

 

The cheapest available apartment rental in Frankton, IN is a 1 Bed unit found at The Towers at Southdale Affordable Senior in the Anderson neighborhood priced from $250. Longfellow Plaza Affordable Senior Community in the Anderson neighborhood has the second lowest priced unit, which is a Studio apartment currently listed from $790. Here is today’s list of the most affordable Frankton apartments for rent:

Apartment ListingModel NameBed/BathPriced From
The Towers at Southdale Affordable Senior1 Bed/ 1 Bath1BR,1BA$250
Longfellow Plaza Affordable Senior CommunityStudioStudio,1BA$790
Forest Oaks Apartments1 Bed 1 Bath (Down)1BR,1BA$850
6301 W Kilgore Ave1 Bed, 1 Bath1BR,1BA$850
1212 Meridian Flats1x11BR,1BA$850
Cedar Ridge TownhomesThe Hickory1BR,1BA$869
Hoosier Woods2X2 50%2BR,2BA$872
Harter HouseSofia1BR,1BA$895
Colonial Crest ApartmentsUnfurnished Studio1BR,1BA$900
Sun Valley TownhomesTownhouse2BR,1BA$935

Best Value Apartments for Rent in Frankton, IN and Nearby

As of July 27, 2026 the best value apartment in the Frankton area is the $0.92 price per square foot Townhouse Model at Sun Valley Townhomes in the in the Anderson neighborhood starting from $1,300. The second greatest value Frankton apartment is the 3x1.5 R Model at Canterbury Townhomes starting at $1,460 with a $1.12 price per square foot in the Westacres neighborhood. Here is today’s list of the best values for Frankton apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Sun Valley TownhomesTownhouse3BR,2.5BA$0.92
Canterbury Townhomes3x1.5 R3BR,1.5BA$1.12
Crestwood MHCBlazer 76 4A4BR,2BA$1.01
Tin Plate Apartments2 Beds, 2 Baths2BR,2BA$1.22
Grissom Estates ApartmentsTwo Bedroom2BR,1BA$1.16
Hoosier Woods2X2 60%2BR,2BA$1.08
1212 Meridian Flats1x11BR,1BA$1.01
Madison LakesOne Bedroom1BR,1BA$1.25
6301 W Kilgore Ave1 Bed, 1 Bath1BR,1BA$1.26
The Towers at Southdale Affordable Senior1 Bed/ 1 Bath1BR,1BA$0.45

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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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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Pet Friendly Lifestyle
Frankton, IN

Ranked #90

Among cities in Indiana for Apartment listings with Pet Friendly Amenities.

Pet Friendliness Lifestyle Score

2.5
Pet Friendly

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

Explore Frankton, IN Rentals by Map

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See the most popular apartments and homes in Frankton, IN

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Frequently Asked Questions about Cheap Frankton Apartments

What is the Cheapest Studio apartment in Frankton?

Currently the most affordable Cheap Studio Apartment in Frankton is at Longfellow Plaza Affordable Senior Community listed at $790.

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

The lowest price for a Cheap One Bedroom Frankton Apartment is $250 at The Towers at Southdale Affordable Senior.

What is the lowest price for a Cheap Two Bedroom Frankton Apartment for rent?

Today's best deal for a Cheap Two Bedroom Apartment in Frankton is starting from $935 at Sun Valley Townhomes.

What is the most affordable Frankton Three Bedroom Apartment?

The best deal on a cheap Frankton Three Bedroom Apartment rental is at Crestwood MHC and starts from $1,004.

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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Renters Insurance 101: What It Is, What It Covers, and Why You Need It

Written by: Robin Stewart

Insurance seems to be a part of life. In some states, having insurance is the law, as is the case for automobile insurance. Renters are no exception.

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Apartment Occupancy Rates: Renter Attraction vs Renter Retention

Written by: Robin Stewart

There’s a tenet in marketing about client or customer attraction and retention. Studies and data have consistently shown it costs less to keep a current customer than to attract a new one.

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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.