Rentometer, Inc. | Data as of 10/22/2025
Frankfort, Indiana, offers a welcoming blend of small‑city charm and convenient amenities, making it an attractive destination for renters seeking a balanced lifestyle. Nestled in the heart of the Hoosier state, the city is known for its historic downtown, vibrant community events, and easy access to the nearby White River State Park. Residents enjoy a mix of local boutiques, cozy cafés, and cultural attractions such as the Indiana Railway Museum, all within walking distance of many rental properties.
The rental market in Frankfort is dominated by apartment options that cater to a variety of needs. Studio units provide an affordable entry point, with average rents in the $600s and a median around $700, ideal for students and young professionals. One‑bedroom apartments are popular among couples and small families, typically averaging $850 with a matching median. For those requiring extra space, two‑bedroom apartments command an average in the high $900s, with median rents just under $1,000, offering comfortable living without sacrificing affordability.
Neighborhoods such as Lovers Lane and Walnut Street blend historic homes with more modern apartment complexes, giving renters a range of settings to call home. Proximity to major employers, schools, and healthcare facilities ensures that daily commutes are short and convenient. Whether you’re drawn by the city’s community spirit, its convenient location near Indianapolis, or its appealing rental rates, Frankfort presents a well‑rounded rental experience that meets the needs of diverse residents.
| Property Type | Bedrooms | Average | Median | Min - Max | 25th - 75th |
|---|---|---|---|---|---|
| Apartment | Studio | $675 | $675 | $625 - $725 | $650 - $725 |
| Apartment | 1 Bedroom | $850 | $842 | $725 - $1,000 | $800 - $900 |
| Apartment | 2 Bedroom | $979 | $975 | $725 - $1,425 | $850 - $1,060 |
In the current period, the average rent in Frankfort was
$675 for Studio,
$850 for 1 Bedroom, and
$979 for 2 Bedroom.
Note: This analysis includes only bedroom types with sufficient data.
Data provided by Rentometer, Inc.