Cheap Apartments for Rent in Franklin, IN from $700 (18 Rentals)

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Green Acre Apartments
2 Bedroom Apartments

Green Acre Apartments

1700 Preidt CirFranklin, IN 46131
  • Utilities Included

Franklin

Named as one of the Best Affordable Neighborhoods to rent in Indianapolis by our Local Expert Wendy Melton. See how it ranks!

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Franklin, IN Local Guide

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 Studio apartment currently listed from $805. Here is today’s list of the most affordable Franklin apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Waterbury ApartmentsStudioStudio,1BA$750
Polo Run ApartmentsThe Shetland StudioStudio,1BA$805
Courts of Valle Vista1Bd/1Ba-Dn (BV)1BR,1BA$1,014
The Fairways at Valle Vista1 Bedroom 1 Bath A1BR,1BA$1,029
Westminster Apartments and TownhomesBroderick1BR,1BA$1,070

Best Value Apartments for Rent in Franklin, IN

As of April 13, 2025 the best value apartment in the Franklin area is the $1.16 price per square foot L3-SUN Model at The Links at Franklin in the in the Cityview Farm neighborhood starting from $2,200. The second greatest value Franklin apartment is the 2 Bed/2.5 Bath Town Home Model at Greenwood Oaks starting at $1,469 with a $1.14 price per square foot in the Tracy Commons neighborhood. Here is today’s list of the best values for Franklin apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
The Links at FranklinL3-SUN3BR,2BA$1.16
Greenwood Oaks2 Bed/2.5 Bath Town Home2BR,2.5BA$1.14
Devonshire ApartmentsThe Windsor3BR,2BA$1.30
Park Madison Apartments2x2 R-Prem2BR,2BA$1.09
Auburn Place ApartmentsMerlot2BR,1.5BA$1.32
Copper Chase at Stones CrossingBismuth1BR,1BA$1.19
Brixin FranklinC1r2BR,2BA$1.37
Summit PointeThe Tanzania1BR,1BA$1.34
The Row ApartmentsThe Picket2BR,1BA$1.29
Stonehedge ApartmentsThe Solis1BR,1BA$1.39

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Best Local Schools in
Franklin, IN

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Getting 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 $866 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 $985 at Polo Run Apartments.

What is the most affordable Franklin Three Bedroom Apartment?

The best deal on a cheap Franklin Three Bedroom Apartment rental is at Devonshire Apartments and starts from $1,564.

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.

decorative image for A Local Expert’s Guide To 10 Budget-Friendly Neighborhoods to Rent in Indianapolis article

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.

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Understanding Amenity Fees: Know Where You Might Be Able to Save Money

Written by: Amber Kanuckel

With the rising costs of housing, a lot of renters are asking this question: Is it possible to opt out of various amenities that your rental property offers so that you can avoid paying the fees.

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Renting Smart: Lease Basics Every Renter Needs

Written by: Christine Leonard, Esq.

Often, in the excitement of finding a new place to live, there’s a rush to make it happen, and - too often - a new tenant signs a lease without reading it carefully.

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Battling the Butts: Your Guide to the Reality of Smoke-Free Renting

Written by: Andrea Lee Negroni, JD

While many apartment buildings are “no smoking” properties, it’s hard to know exactly how many. In 2017, the National Apartment Association reported more than half of rental properties had smoke free policies.