Cheap Apartments for Rent in the Franklin Neighborhood of Farmington, MI from $800 (28 Rentals)

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Search the lowest-cost Apartments available for rent right now in the Franklin area of Farmington.

What Does “Rent Burdened” Mean? How Much Rent Is Too Much

Learn the official definition (spending 30% or more of your gross income on housing) and how to calculate your exact rent-to-income ratio. This guide offers expert tips on factoring in total housing costs (including utilities and fees) and budgeting accurately to avoid unnecessary financial strain.

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Your Guide to Co-Signers: The Risks, Rewards, and Everything in Between

Thinking about getting a co-signer for your rental application? We break down what a co-signer is, the potential benefits, and the serious risks for both parties. Find out if it's the right choice for you.

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Parc on 12
1 to 2 Bedroom Apartments

Parc on 12

24710 W 12 Mile RdSouthfield, MI 48034

Cash or credit? Understanding the Importance of Credit Score in Real Estate and Renting

Discover how your credit score impacts your ability to lease or buy a home. Learn how credit scores are determined, how to check yours, and strategies to improve it for real estate success.

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Wakefield Apartments
2 to 3 Bedroom Apartments

Wakefield Apartments

29090 Tiffany Dr ESouthfield, MI 48034
  • Utilities Included
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Laurel Woods
2 Bedroom Apartments

Laurel Woods

22200 Laurel Woods CtSouthfield, MI 48034
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Colony Park Apartments
1 to 2 Bedroom Apartments

Colony Park Apartments

21890 Colony Park CirSouthfield, MI 48076
Senior Living

Roommate Matching: Finding the Right Fit and Avoiding Pitfalls

When searching for a roommate, follow this list of essential steps and set clear expectations to create a solid foundation for a harmonious living situation.

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Showing Results 1-28, Page 1 of 1

Franklin, Farmington, MI Local Guide

Cheapest Available Franklin Apartments for Rent

 

The cheapest available apartment rental in the Franklin area of Detroit, MI is a Studio unit found at Pine Aire priced from $915. The Lakes has the second lowest priced unit, which is a 2 Beds apartment currently listed from $950. Here are the most affordable Franklin apartments for rent in Detroit, MI:

Apartment ListingModel NameBed/BathPriced From
Pine AireStudioStudio,1BA$915
The Lakes2 Bed 1 Bath2BR,1BA$950
PhilamerOne Bed1BR,1BA$1,000
Parkview ApartmentsOne Bedroom1BR,1BA$1,050
The PinesOne Bedroom1BR,1BA$1,055
Kensington At Beverly HillsDoheny1BR,1BA$1,313
Altitude West (Altitude RPB, LLC)Altitude Apartments West - One Bedroom *THIRD M...1BR,1BA$1,400
Corner Place ApartmentsOne Bedroom1BR,1BA$1,445
Camelot ApartmentsTwo Bedroom One Bathroom2BR,1BA$1,445
Cranbrook Centre - Southfield, MI1 Bedroom1BR,1BA$1,465

Best Value Apartments for Rent in Franklin, MI

As of May 23, 2026 the best value apartment in the Franklin area is the $1.18 price per square foot Bolingbroke Model at Lancaster Hills in the in the Northwestern Highway neighborhood starting from $1,570. The second greatest value Franklin apartment is the Two Bedroom/Two Bath Model at Corner Place Apartments starting at $1,675 with a $1.29 price per square foot in the Fries Park 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 HillsBolingbroke2BR,2BA$1.18
Corner Place ApartmentsTwo Bedroom/Two Bath2BR,2BA$1.29
Camelot ApartmentsTwo Bedroom Two Bathroom2BR,2BA$1.43
Colony Park ApartmentsThe Addington (1BR / 1BA with Den)1BR,1BA$1.49
Huntley SquareAdams1BR,1BA$1.56
Cranbrook Centre - Southfield, MI1 Bedroom1BR,1BA$1.58
Parkview ApartmentsOne Bedroom1BR,1BA$1.17
The PinesOne Bedroom1BR,1BA$1.26
The Lakes1 BED 1 BATH STYLE B1BR,1BA$1.45
PhilamerOne Bed1BR,1BA$1.35

Don't Settle: How to Negotiate Your Apartment Lease and Save Money

Discover the insider tips from an attorney and real estate agent on how to negotiate your next apartment lease. Find out what's on the table and what's not, so you can save money and get the best terms possible.

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Real Estate and Rental Term Glossary | ApartmentHomeLiving.com Renter University

From the letter A all the way to the letter Z, the Real Estate and Rental Term Glossary from the content team at ApartmentHomeLiving.com provides our visitors and shoppers with a little clarity and helpful guidance in navigating the real estate world through definitions and explainers for the top subjects and terms that someone may come across during the leasing, buying, or selling process.

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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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Best Local Schools in
Franklin, Farmington, MI

School data provided by Great Schools

Frequently Asked Questions about Cheap Franklin Apartments

How much is rent for a Cheap One Bedroom Franklin Apartment?

The lowest price for a Cheap One Bedroom Franklin Apartment is $1,000 at Philamer.

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 $950 at The Lakes.

What is the most affordable Franklin Three Bedroom Apartment?

The best deal on a cheap Franklin Three Bedroom Apartment rental is at Pine Aire and starts from $1,450.

Expert Rental Resources

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.

Helpful Local Expert Guides

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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.

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The Best Detroit Area Neighborhoods for Off-Campus Housing Renters

Written by: Tim Brown

Detroit is an exciting and vibrant city with many educational and employment opportunities, and many neighborhoods to choose from while attending school.

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The Detroit Insiders Renting Guide: A Locals Look Under the Hood of Motown

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 and have witnessed the city and its surrounding metro area undergo a renaissance.

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Relocate to Detroit: Top Neighborhoods and Apartment Options Near Major Area Employers

Written by: Tim Brown

The auto industry remains the largest employment sector in the Motor City and surrounding communities, though the metro area has a significant presence in other sectors, including medical and financial services.

Articles, How-To's, and Tips

decorative image for A Seasoned Property Manager's Step-by-Step Guide to Getting Your Deposit Back article

A Seasoned Property Manager's Step-by-Step Guide to Getting Your Deposit Back

Written by: Lauren Harrington

I’m going to talk with you as a seasoned property manager and friend. So, let’s start with your security deposit. I want you to think about this guide as insider information. You deserve your deposit back.

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Expert Solutions for Creating the Perfect Work-From-Home Apartment Layouts

Written by: Lauren Harrington

This article is based on first-hand experience managing apartment communities and helping renters adapt to their spaces after moving in.

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What Does “Rent Burdened” Mean? How Much Rent Is Too Much

Written by: Lauren Harrington

This article draws from first-hand renter experiences and recurring financial challenges reported after moving in.

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Maximizing Your Refund: Essential Tax Tips for Renters

Written by: Christine Leonard, Esq.

Other than tax professionals, I can’t think of anyone who looks forward to tax season. For everybody else, April is a stressful month to collect information and meet deadlines.