1252 Goldenrod Dr
IndianapolisIN46219
Cheap Apartments for Rent in the South Franklin Avenue Neighborhood of Indianapolis, IN from $400 (13 Rentals)
Search the lowest-cost Apartments available for rent right now in the South Franklin Avenue area of Indianapolis.
close
View Me
from $7002 Bedroom Apartments Available Now
The Aerie on 11th Street
6240 E 11th StIndianapolis, IN 46219
close
View Me
Rent Specials
from $749Studio to 2 Bedroom Apartments Available Now
Stonehenge
7980 Dunston DrIndianapolis, IN 46239
7043 E 10th St
IndianapolisIN46219
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.
close
View Me
from $790Studio to 2 Bedroom Apartments Available Now
Serenity Manor 55+ Independent Senior Living
1123 N Edmondson AveIndianapolis, IN 46219
close
View Me
close
View Me
close
View Me
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.
close
View Me
6238 Eastridge Dr
IndianapolisIN46219
close
View Me
2 Bedroom Apartments
The Jeffersonian Apartments Of Indianapolis
801 N Shortridge RdIndianapolis, IN 46219
close
View Me
South Franklin Avenue - 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!
close
View Me
Showing Results 1-13, Page 1 of 1
South Franklin Avenue, Indianapolis, IN Local Guide
How much does it cost to rent an apartment in South Franklin Avenue?
| Bedroom | Average Rent | Cheapest Rent | Highest Rent |
|---|---|---|---|
| South Franklin Avenue Studio Apartments | $915 | $790 | $1,250 |
| South Franklin Avenue 1 Bedroom Apartments | $981 | $400 | $1,225 |
| South Franklin Avenue 2 Bedroom Apartments | $1,201 | $700 | $1,667 |
| South Franklin Avenue 3 Bedroom Apartments | $1,633 | $1,225 | $2,015 |
| South Franklin Avenue 4 Bedroom Apartments | $1,723 | $1,426 | $1,955 |
Browse Apartments in this Neighborhood
There are currently 13 rentals with your search options within a 2 mile radius of the South Franklin Avenue Neighborhood of Indianapolis, IN.
See all Apartments in IndianapolisExplore Indianapolis
South Franklin Avenue, Indianapolis, IN Local Guide
- Nearby Indianapolis neighborhoods
- Nearby Cities
- ZIP codes
- Local Counties
- School Districts
Cheapest Available South Franklin Avenue Apartments for Rent
The cheapest available apartment rental in the South Franklin Avenue area of Indianapolis, IN is a 2 Beds unit found at The Aerie on 11th Street priced from $700. Stonehenge has the second lowest priced unit, which is a Studio apartment currently listed from $749. Here are the most affordable South Franklin Avenue apartments for rent in Indianapolis, IN:
| Apartment Listing | Model Name | Bed/Bath | Priced From |
|---|---|---|---|
| The Aerie on 11th Street | 6260 East 11th Street - Apt 307 | 2BR,1BA | $700 |
| Stonehenge | Studio | Studio,1BA | $749 |
| Olivewood | One Bed One Bath | 1BR,1BA | $859 |
| 50 - SAXONY COURT APARTMENTS | Saxony 2 Bd Standard | 2BR,1BA | $875 |
| Lake Marina Apartments | 1 Bedroom Townhouse | 1BR,1BA | $899 |
Best Value Apartments for Rent in South Franklin Avenue, IN
As of April 30, 2025 the best value apartment in the South Franklin Avenue area is the $1.24 price per square foot Beautiful Renovated Historic Apartment - 2 bedr... Model at School 85 in the in the Southeast Indianapolis neighborhood starting from $1,610. The second greatest value South Franklin Avenue apartment is the Two Bedroom One Bath Model at Paragon Park starting at $1,299 with a $1.06 price per square foot in the Southeast Indianapolis neighborhood. Here is today’s list of the best values for South Franklin Avenue apartments based on price per square foot:
| Apartment Listing | Model Name | Bed/Bath | Price Per Sq.Ft. |
|---|---|---|---|
| School 85 | Beautiful Renovated Historic Apartment - 2 bedr... | 2BR,2BA | $1.24 |
| Paragon Park | Two Bedroom One Bath | 2BR,1BA | $1.06 |
| The Life at Belhaven Place | 3 Bed 2 Bath | 3BR,2BA | $1.18 |
| Country Lake Townhomes | 2 BR, 1.5 Bath townhome | 2BR,1.5BA | $1.40 |
| 60 - ADDISON APARTMENTS | 1st Floor Standard + W/D Hookups | 2BR,1BA | $0.95 |
| Vistas Apartments | 2 Bedroom 1 Bath Apartment | 2BR,1BA | $1.13 |
| The Aerie on 11th Street | 6260 East 11th Street - Apt 305 | 2BR,1BA | $0.82 |
| Braeburn Village | 2X1-50 | 2BR,1BA | $1.19 |
| 50 - SAXONY COURT APARTMENTS | Saxony 2 Bd Standard | 2BR,1BA | $1.18 |
| Indy Town Apartments | Arlington Green 2 bedroom | 2BR,1BA | $1.34 |
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.
Let everyone know!
Do you know the South Franklin Avenue area?
If you’re an expert on all things South Franklin Avenue, tell us what you love (and don't) by rating it and writing a review.
Write a Review
Pet Friendly LifestyleSouth Franklin Avenue, Indianapolis, IN
Ranked #195
Among neighborhoods in Indianapolis, IN for Apartment listings with Pet Friendly Amenities
Pet Friendliness Lifestyle Score
3.5Pet Friendly
Frequently Asked Questions about Cheap South Franklin Avenue Apartments
What is the price of a cheap apartment in South Franklin Avenue?
The cheapest apartment in South Franklin Avenue is Olivewood which is listed at $859, while the average apartment in South Franklin Avenue costs $1,757.
What types of apartments are the cheapest in South Franklin Avenue?
Student, low-income, and by-the-bed apartments are typically the cheapest rentals in most cities, though they require qualifying criteria to rent. There are 18 regular apartments in South Franklin Avenue that we think qualify as ‘cheap apartments’ that do not have special requirements to apply to rent.
How do the prices of cheap apartments compare to the average apartment in South Franklin Avenue?
Cheap apartments in South Franklin Avenue have an average cost of $636 which is $1,121 cheaper than the average rent for all rentals in South Franklin Avenue.
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.
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.
Rise of Digital Nomads: Remote Work Tips for Apartment Renters
Written by: Brandie Parton
As a digital nomad, you no longer call a set address or office building your home for eight hours of the day or more.
Know Your Rights - How Discrimination Laws Impact Landlords and Tenants
Written by: Christine Leonard, Esq.
Everyone needs a place to live and to call home. For decades, the federal government has established protections to ensure that individuals and families can find housing free from discriminatory barriers.