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Cheap Apartments for Rent in Franklin, IN from $700 (14 Rentals)
Search the lowest-cost Apartments available for rent right now in Franklin.
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1410 E Jefferson St
FranklinIN46131
Smart Renter's Guide: Calculating Affordable Rent & Housing Costs
Wondering how to determine your rental budget? This comprehensive guide covers everything from the 30% rule to hidden fees and effective budgeting strategies.
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from $750Studio to 2 Bedroom Apartments Available Now
Waterbury Apartments
421 Waterbury StGreenwood, IN 46142
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from $9661 to 2 Bedroom Apartments Available Now
Keeneland Crest Apartments
8401 Boggs Creek DrIndianapolis, IN 46237
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from $1,0061 to 3 Bedroom Apartments Available Now
Auburn Place Apartments
745 Wooddale TerGreenwood, IN 46142
Navigating the Rental Market: Tips for First-Time Renters
Entering the rental market? Learn these simple tips and strategies to avoid common pitfalls and make confident choices. Rent with peace of mind.
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from $1,0091 to 2 Bedroom Apartments Available Now
Courts of Valle Vista
714 Connors DrGreenwood, IN 46143
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from $1,0351 to 3 Bedroom Apartments Available Now
Westminster Apartments and Townhomes
921 Parliament PlGreenwood, IN 46142
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from $1,0752 Bedroom Apartments Available Now
Park Madison Apartments
614 Madison RdGreenwood, IN 46142
Know Your Rights - How Discrimination Laws Impact Landlords and Tenants
Read our practical guide to landlord and tenant rights. Understand protected classes, reasonable accommodations, and legal exceptions to prevent housing discrimination.
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from $1,0891 to 2 Bedroom Apartments Available Now
Stonehedge Apartments
1563 Stonehedge CtGreenwood, IN 46142
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from $9991 to 2 Bedroom Apartments Available Now
The Fairways at Valle Vista
610 Paradise CtGreenwood, IN 46143
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Franklin - One of the Best Affordable Neighborhoods in Indianapolis
Named as one of the Best Affordable Neighborhoods to rent in Indianapolis by our Local Expert Wendy Melton. See how it ranks!
4241 W Whiteland Rd
BargersvilleIN46106
99 1/2 E Pearl St
GreenwoodIN46143
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Franklin, IN Local Guide
Johnson County courthouse in Franklin by Mingusboodle is licensed under Public Domain
How much does it cost to rent an apartment in Franklin?
| Bedroom | Average Rent | Cheapest Rent | Highest Rent |
|---|---|---|---|
| Cheap Franklin Studio Apartments | $1,219 | $750 | $1,390 |
| Cheap Franklin 1 Bedroom Apartments | $1,263 | $816 | $2,240 |
| Cheap Franklin 2 Bedroom Apartments | $1,583 | $920 | $2,666 |
| Cheap Franklin 3 Bedroom Apartments | $1,959 | $1,296 | $2,979 |
| Cheap Franklin 4 Bedroom Apartments | $2,117 | $1,720 | $2,640 |
Browse Top Apartments in Franklin
See all Apartments in FranklinExplore Franklin
Franklin, IN Local Guide
- Franklin Neighborhoods
- Nearby Cities
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Cheapest Available Franklin Apartments for Rent
The cheapest available apartment rental in Franklin, IN is a Studio unit found at Waterbury Apartments in the Tracy Commons neighborhood priced from $750. Polo Run Apartments in the Buffalo Creek neighborhood has the second lowest priced unit, which is a 1 Bed apartment currently listed from $835. Here is today’s list of the most affordable Franklin apartments for rent:
| Apartment Listing | Model Name | Bed/Bath | Priced From |
|---|---|---|---|
| Waterbury Apartments | Studio | Studio,1BA | $750 |
| Polo Run Apartments | The Morgan 1 BR 1 BA | 1BR,1BA | $835 |
| The Fairways at Valle Vista | 1 Bedroom 1 Bath C | 1BR,1BA | $999 |
| Auburn Place Apartments | Bronze | 1BR,1BA | $1,006 |
| Courts of Valle Vista | 1Bed/1Ba-Dn (A) | 1BR,1BA | $1,009 |
Best Value Apartments for Rent in Franklin, IN
As of May 16, 2025 the best value apartment in the Franklin area is the $1.36 price per square foot The Everest Model at Summit Pointe in the in the Southside Indianapolis neighborhood starting from $1,882. The second greatest value Franklin apartment is the Breezewood Model at Redwood Greenwood starting at $1,799 with a $1.37 price per square foot in the Barton Lakes neighborhood. Here is today’s list of the best values for Franklin apartments based on price per square foot:
| Apartment Listing | Model Name | Bed/Bath | Price Per Sq.Ft. |
|---|---|---|---|
| Summit Pointe | The Everest | 3BR,2BA | $1.36 |
| Redwood Greenwood | Breezewood | 2BR,2BA | $1.37 |
| Latitudes Apartments | The Voyager 3 BR 2 BA | 3BR,2BA | $1.36 |
| Hartshire Lakes Apartments | Hawthorn | 3BR,2BA | $1.29 |
| Park Madison Apartments | 2x2 | 2BR,2BA | $0.93 |
| Emerald Lakes | Waterford | 2BR,2BA | $1.36 |
| Keeneland Crest Apartments | Camden | 2BR,1BA | $1.36 |
| St. Andrews | 2Bd/2Ba T | 2BR,2BA | $1.36 |
| The Row Apartments | The Picket | 2BR,1BA | $1.29 |
| Stonehedge Apartments | The Solis | 1BR,1BA | $1.39 |
Quick Rent Budget Calculator
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Best Local Schools in Franklin, IN
Franklin Community High School
Franklin Community School Corp
Public School - Grades 9-12 (1610)
4 out of 10
Franklin Community Middle School
Franklin Community School Corp
Public School - Grades 7-8 (759)
6 out of 10
School data provided by Great Schools
Remember the 3 Rules of Real Estate:Location, Location, Location!
Explore Franklin, IN Rentals by Map
See the most popular apartments and homes in Franklin, IN
Franklin, IN Apartments MapFranklin, IN Rental Homes MapGetting Around Franklin, IN
Walk Score®
35 / 100
Car-Dependent
Most errands require a car
Bike Score®
42 / 100
Somewhat Bikeable
Minimal bike infrastructure
What Are Walk Score®, Transit Score®, and Bike Score® Ratings?
- Walk Score® measures the walkability of any address.
- Transit Score® measures access to public transit.
- Bike Score® measures the bikeability of any address.
Frequently Asked Questions about Cheap Franklin Apartments
What is the Cheapest Studio apartment in Franklin?
Currently the most affordable Cheap Studio Apartment in Franklin is at Waterbury Apartments listed at $750.
How much is rent for a Cheap One Bedroom Franklin Apartment?
The lowest price for a Cheap One Bedroom Franklin Apartment is $835 at Polo Run Apartments.
What is the lowest price for a Cheap Two Bedroom Franklin Apartment for rent?
Today's best deal for a Cheap Two Bedroom Apartment in Franklin is starting from $1,075 at Park Madison Apartments.
What is the most affordable Franklin Three Bedroom Apartment?
The best deal on a cheap Franklin Three Bedroom Apartment rental is at Westminster Apartments and Townhomes and starts from $1,385.
Expert Rental Resources
Helpful Apartment Articles, How-To's and Tips
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.
A Local Expert’s Guide To 10 Budget-Friendly Neighborhoods to Rent in Indianapolis
Written by: Wendy Melton
Indianapolis is not only the state capital of Indiana, it’s also a shining example of what Midwestern living is all about. I’m Wendy, your ApartmentHomeLiving.
Know Your Budget: Calculating What You Can Realistically Afford When Renting
Written by: Lauren Harrington
Renting an apartment or house isn’t just about looking through online ads, choosing a few apartments or homes you want to tour, filling out an application, and putting down a deposit. Those things are all necessary and important.
The Freedom of Short-Term Leases: Exploring the Advantages for Renters
Written by: Bobbi Jackson
If you’re looking to relocate right now, a popular solution that may best fit your current rental needs is a short-term lease.
Navigating the Rental Market: Tips for First-Time Renters
Written by: Sandy Baker
Making the decision to rent is exciting and terrifying at the same time. For many people, there are a lot of unknowns.