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Cheap Apartments for Rent in the South Franklin Neighborhood of Indianapolis, IN from $800 (8 Rentals)
Search the lowest-cost Apartments available for rent right now in the South Franklin area of Indianapolis.
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Keeneland Crest Apartments
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Overlook at Valley Ridge Apartments
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Latitudes Apartments
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Alder Woods LLC
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The Brixton
South Franklin, Indianapolis, IN Local Guide
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How much does it cost to rent an apartment in South Franklin?
Bedroom | Average Rent | Cheapest Rent | Highest Rent |
---|---|---|---|
South Franklin Studio Apartments | $1,383 | $1,370 | $1,390 |
South Franklin 1 Bedroom Apartments | $1,426 | $914 | $3,355 |
South Franklin 2 Bedroom Apartments | $1,623 | $995 | $3,351 |
South Franklin 3 Bedroom Apartments | $2,012 | $1,620 | $4,052 |
Browse Apartments in this Neighborhood
There are currently 8 rentals with your search options within a 2 mile radius of the South Franklin Neighborhood of Indianapolis, IN.
See all Apartments in IndianapolisExplore Indianapolis
South Franklin, Indianapolis, IN Local Guide
- Nearby Indianapolis neighborhoods
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- Local Counties
- School Districts
Cheapest Available South Franklin Apartments for Rent
 The cheapest available apartment rental in the South Franklin area of Indianapolis, IN is a 1 Bed unit found at Emerson Village priced from $976. Keeneland Crest Apartments has the second lowest priced unit, which is a 2 Beds apartment currently listed from $1,040. Here are the most affordable South Franklin apartments for rent in Indianapolis, IN:
Apartment Listing | Model Name | Bed/Bath | Priced From |
---|---|---|---|
Emerson Village | The Cardinal - Premium | 1BR,1BA | $976 |
Keeneland Crest Apartments | Camden | 2BR,1BA | $1,040 |
Overlook at Valley Ridge Apartments | A - Mohawk | 1BR,1BA | $1,052 |
Best Value Apartments for Rent in South Franklin, IN
As of February 20, 2025 the best value apartment in the South Franklin area is the $1.33 price per square foot Forestwood Model at Redwood Indianapolis in the in the Southeast Indianapolis neighborhood starting from $1,724. The second greatest value South Franklin apartment is the Tuscan Model at Keeneland Crest Apartments starting at $1,194 with a $1.34 price per square foot in the Southeast Indianapolis neighborhood. Here is today’s list of the best values for South Franklin apartments based on price per square foot:
Apartment Listing | Model Name | Bed/Bath | Price Per Sq.Ft. |
---|---|---|---|
Redwood Indianapolis | Forestwood | 2BR,2BA | $1.33 |
Keeneland Crest Apartments | Tuscan | 1BR,1BA | $1.34 |
Summit Pointe | The Tanzania | 1BR,1BA | $1.43 |
Arlington Farms | 1 Bed, 1 Bath | 1BR,1BA | $1.70 |
Lakes of Windsor | Chelsea | 1BR,1BA | $1.45 |
Latitudes Apartments | The Latitude 1 BR 1 BA | 1BR,1BA | $1.62 |
Overlook at Valley Ridge Apartments | A1 - Champlain | 1BR,1BA | $1.64 |
ARLO Apartments | Finn | Studio ,1BA | $2.14 |
Emerson Village | The Cardinal - Premium | 1BR,1BA | $1.59 |
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.
Pet Friendly LifestyleSouth Franklin, Indianapolis, IN
Ranked #154
Among neighborhoods in Indianapolis, IN for Apartment listings with Pet Friendly Amenities
Pet Friendliness Lifestyle Score
2.5Pet Friendly
Best Local Schools in South Franklin, Indianapolis, IN
Lillie Idella Kitley Elementary
Franklin Central High School
Franklin Central Junior High
School data provided by Great Schools
Best Local Schools in South Franklin, Indianapolis, IN
Lillie Idella Kitley Elementary
Franklin Central High School
Franklin Central Junior High
School data provided by Great Schools
Getting Around the South Franklin Neighborhood in Indianapolis, IN
Walk Score®
29 / 100
Car-Dependent
Most errands require a car
Bike Score®
36 / 100
Somewhat Bikeable
Minimal bike infrastructure
Transit Score®
13 / 100
Minimal Transit
It may be possible to get on a bus
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 South Franklin Apartments
What is the Cheapest Studio apartment in South Franklin?
Currently the most affordable Cheap Studio Apartment in South Franklin is at ARLO Apartments listed at $1,370.
How much is rent for a Cheap One Bedroom South Franklin Apartment?
The lowest price for a Cheap One Bedroom South Franklin Apartment is $976 at Emerson Village.
What is the lowest price for a Cheap Two Bedroom South Franklin Apartment for rent?
Today's best deal for a Cheap Two Bedroom Apartment in South Franklin is starting from $1,040 at Keeneland Crest Apartments.
What is the most affordable South Franklin Three Bedroom Apartment?
The best deal on a cheap South Franklin Three Bedroom Apartment rental is at Overlook at Valley Ridge Apartments and starts from $1,620.
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.
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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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What to Know About Fees and Fines When Renting
Written by: Trey Huguley
When it comes to renting a new apartment or home there can be a number of fees that you will want to keep in mind going into the process.
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How Your Move-In Inspection Can Protect Your Security Deposit
Written by: Christine Leonard, Esq.
If you’re anything like most people, housing costs represent a huge chunk of your monthly budget. On top of that, moving can be both a stressful and expensive affair.
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Signing Your Apartment Lease: The Basics
Written by: Trey Huguley
When you're about to sign a lease for the first time, it can feel a bit overwhelming. You don’t want to miss any important details hidden in the fine print.