Cheap Homes for Rent in Franklin, MI from $800 (10 Rentals)

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property at 30052 W 12 Mile Rd

30052 W 12 Mile Rd

Farmington HillsMI48334

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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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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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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Check Out Detroit’s Best Affordable Neighborhoods

Learn about Detroit and the best places to live with original content written by our Local Expert Tim Brown

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Franklin, MI Local Guide

Cheapest Available Franklin Apartments for Rent and Nearby

 

The cheapest available apartment rental in Franklin, MI is a 1 Bed unit found at Regal Towers in the Woodcreek neighborhood priced from $779. Parc on 12 in the Woodcreek neighborhood has the second lowest priced unit, which is a 1 Bed apartment currently listed from $905. Here is today’s list of the most affordable Franklin apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Regal Towers1 Bedroom1BR,1BA$779
Parc on 12Nelson - Edward1BR,1BA$905
Park at Franklin Senior LivingRobin1BR,1BA$949

Best Value Apartments for Rent in Franklin, MI and Nearby

As of May 15, 2025 the best value apartment in the Franklin area is the $1.36 price per square foot Henry Model at Lancaster Hills in the in the Northwestern Highway neighborhood starting from $2,440. The second greatest value Franklin apartment is the C3 Renovated Model at Carnegie Park Apartments starting at $1,850 with a $1.49 price per square foot in the Woodcreek 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.
Lancaster HillsHenry3BR,2BA$1.36
Carnegie Park ApartmentsC3 Renovated2BR,2BA$1.49
Uptown 11 Townhouses3 Bedroom 1.5 Bath Townhome3BR,1.5BA$1.46
Imperial Apartments3 Bedroom3BR,2BA$1.39
Colony Park Apartments1 Bedroom 1 Bath1BR,1BA$1.45
Franklin River Apartments1 Bedroom 1 Bath1BR,1BA$1.34
Pine Aire1 Bedroom / 1 Bath1BR,1BA$1.20
The PinesOne Bedroom1BR,1BA$1.26
Regal Towers1 Bedroom1BR,1BA$1.18
Parc on 12Nelson - Edward1BR,1BA$1.39

Quick Rent Budget Calculator

How much rent can you afford?

The common "Rule of Thumb" is that rent should be no more than 30% of your income. How much is that? Enter your monthly income and click "Calculate My Budget" to find out.

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Frequently Asked Questions about Franklin

What type of rentals are currently available in Franklin?

There are currently 56 Apartments for Rent in Franklin, MI with pricing that ranges from $745 to $8,700. There are also 38 Single Family Homes for rent, Condos, and Townhome rentals currently available in Franklin ranging from $800 to $10,000.

What is the current price range for Rental Homes in Franklin?

Today's rental pricing for Homes for Rent, Condos and Townhomes in Franklin ranges from $800 to $10,000 with an average monthly rent of $2,840.

How much are larger Three and Four Bedroom Rentals in Franklin?

For those who are looking for larger living arrangements, Three Bedroom Apartments in Franklin range from $1,429 to $3,200, while Three Bedroom Homes, Condos, and Townhomes for rent range from $2,300 to $10,000. Four Bedroom Single-Family rentals are also available starting from $2,250 and Four Bedroom Apartments start at $2,435.

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 Detroit Local Expert’s Guide to the 10 Best Budget-Friendly Neighborhoods to Rent article

A Detroit Local Expert’s Guide to the 10 Best Budget-Friendly Neighborhoods to Rent

Written by: Tim Brown

I'm Tim, your ApartmentHomeLiving.com Local Expert for Detroit, Michigan. My family and I have lived in metro Detroit since the late 1990s.

decorative image for Know Your Budget: Calculating What You Can Realistically Afford When Renting article

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.

decorative image for The Freedom of Short-Term Leases: Exploring the Advantages for Renters article

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.

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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.