Indiana is where the past meets the present, and the great outdoors is right at your fingertips. Get to know the rich cultural heritage of this Midwestern gem by visiting incredible museums like the Eiteljorg Museum of American Indians and Western Art, or check out the top universities like Purdue University and Indiana University. Indiana is a hub of economic activity, with its thriving manufacturing, agriculture, and transportation industries.

The state also offers plenty of opportunities for those seeking adventure and excitement. From exploring the beautiful state parks to fishing in its many lakes and rivers, Indiana is a nature-lovers paradise from the Hoosier National Forest to the Ohio River. And for sports fans, check out the Indianapolis Colts (NFL) and Indiana Pacers (NBA) or catch a game at universities like Purdue or Indiana. In addition, discover famous attractions like the Indianapolis Motor Speedway, home of the world-famous Indianapolis 500 race, the Children's Museum of Indianapolis, and the historic town of Brown County.

With its strong economy, quality education, and lively atmosphere, Indiana is the perfect place to live.

Rental Market Trends

Frankfort, IN

As of May 2025, Frankfort's rental market is competitive, with strong renter demand causing quick leasing times for well-priced units. Frankfort's average rent is 31.0% ($402) lower than the Indiana average of $1,298 and 50.0% ($897) lower than the U.S. average of $1,793.

Average Rent

$896

Monthly ChangeMonth Over Month Change

3.2% ($28)

Yearly ChangeYear Over Year Change

15.3% ($119)

Avg. Days on MarketAverage Days on Market

Unit Type	Average Rent	Monthly ChangeMonth Over Month Change	Yearly ChangeYear Over Year Change
1 Bed	$734	5.8% ($45)	10.4% ($69)
2 Beds	$972	4.4% ($45)	14.6% ($124)
3 Beds	$1,213	8.9% ($118)	9.3% ($103)

Nearby Cities	Average Rent	Avg. Rent vs. FrankfortAverage Rent vs. Frankfort	Avg. Days on MarketAverage Days on Market
Flora	$926	3.3% ($30)	35 days
Sheridan	$1,513	68.9% ($617)	30 days
Lebanon	$1,279	42.7% ($383)	33 days
Delphi	$1,069	19.3% ($173)	32 days
Kokomo	$912	1.8% ($16)	32 days

Rental market trends are calculated using listing data from RentalSource.

Frequently Asked Questions

Frankfort Rental Market FAQs

Explore rental prices, market trends, and availability in Frankfort, IN.

What is the average rent in Frankfort, IN?

The average rent in Frankfort, IN is $896 per month.

What is the rental price range for homes in Frankfort, IN?

Homes in Frankfort typically rent for between $600 and $1,577 per month, with an average of $896 per month.

What is the average rent for different bedroom sizes in Frankfort, IN?

In Frankfort, the average rent for a 1-bedroom home is $734 per month, for a 2-bedroom home, $972 per month, and a 3-bedroom home is $1,213 per month.

How do rent prices in Frankfort, IN compare with the national average?

The average rent in Frankfort is 50% ($897) lower than the national average of $1,793 per month.

How have rent prices in Frankfort, IN changed recently?

The average rent in Frankfort has increased by 3.2% ($28) in the last month and increased by 15.3% ($119) over the past year.

How competitive is the rental market in Frankfort, IN?

The rental market in Frankfort, IN, is currently competitive, with strong renter demand causing quick leasing times for well-priced units.

How long do rentals stay on the market in Frankfort, IN?

In Frankfort, IN, the average rental stays on the market for approximately 29 days. While most properties are rented within this timeframe, factors like seasonality, demand, and property type can affect how quickly a rental leases.

How many rental properties are available in Frankfort, IN?

There are currently 7 rental properties available in Frankfort, IN.

Can I afford to rent a home in Frankfort, IN?

Based on the current averages, a household would need an annual income of $38,880 to comfortably afford a 2-bedroom home in Frankfort.