An adjustable foldable bed frame comprises an outer assembly having a body section and a leg section. Each section has a substantially rectangular periphery with an opening and is pivotally coupled together by a pair of first coupling members for movement between an open configuration whereby the sections are co-planar, and a closed configuration whereby the sections are parallel with each other. An inner assembly having a body component and a leg component are positioned within the opening of the body section and the leg section, respectively. The body component comprises a torso portion which is independently adjustable from a flat configuration to a plurality of reclined configurations. The leg component comprises a calf portion which is independently adjustable from a flat configuration to a plurality of elevated configurations. A connecting bracket assembly fixedly couples adjacent adjustable foldable bed frames such that adjacent torso and calf portions are adjustable together.