
Cheap Apartments for Rent in Franklin, AL from $500 (36 Rentals)
Search the lowest-cost Apartments available for rent right now in Franklin.


Notasulga Villas

Atlas at Richland Road

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The Greens at Auburn I/II

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The Fairways at Auburn I/II

Oakley Cove Apartments

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Shepherds Cove Apartments

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Arbors On Taylor

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Summer Brooke Apartments
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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Village West Apartments II

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The Rosemary

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Grayton on Dean

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Club 34

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The Domain On Donahue

Broadstreet at EastChase Apartments

Berry Hill Apartments

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Peppertree

The Grove at Stone Park
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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Barrington Place

Deerwoode Apartments

Verandas at Mitylene

The Morgan

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The One at Montgomery

Asbury Hills

2038 Lee Rd 137

Woodland Hills

416 St James Church Loop
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130 Lee Dr

1256 Hidden Den Trl

4020 Beth Anne Place

1007 Stonegate Dr

938 Winslow Ct

940 Winslow Ct

3180 Lee Rd 137

936 Winslow Ct

924 Winslow Ct
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Franklin, AL Local Guide

How much does it cost to rent an apartment in Franklin?
| Bedroom | Average Rent | Cheapest Rent | Highest Rent |
|---|---|---|---|
| Franklin Studio Apartments | $1,705 | $1,649 | $1,945 |
| Franklin 1 Bedroom Apartments | $1,434 | $662 | $1,940 |
| Franklin 2 Bedroom Apartments | $1,627 | $806 | $2,700 |
| Franklin 3 Bedroom Apartments | $1,828 | $699 | $3,300 |
| Franklin 4 Bedroom Apartments | $1,934 | $540 | $5,000 |
Browse Top Apartments in Franklin
See all Apartments in FranklinExplore Franklin
Franklin, AL Local Guide
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Cheapest Available Franklin Apartments for Rent and Nearby
 The cheapest available apartment rental in Franklin, AL is a 4 Beds unit found at The Quarters Auburn in the North Auburn neighborhood priced from $590. Atlas at Richland Road in the North Auburn neighborhood has the second lowest priced unit, which is a 3 Beds apartment currently listed from $699. Here is today’s list of the most affordable Franklin apartments for rent:
| Apartment Listing | Model Name | Bed/Bath | Priced From |
|---|---|---|---|
| The Quarters Auburn | 4x4 | 4BR,4BA | $590 |
| Atlas at Richland Road | 3BR/2.5BA - Duplex - Furnished | 3BR,2BA | $699 |
| The Greens at Auburn I/II | Classic Deluxe II | 1BR,1BA | $965 |
| The Fairways at Auburn I/II | Classic Deluxe II/IV | 1BR,1BA | $965 |
| Oakley Cove Apartments | 2 Beds, 1 bath | 2BR,1BA | $1,025 |
| Summer Brooke Apartments | one bedroom | 1BR,1BA | $1,100 |
| Village West Apartments II | The Plains | 1BR,1BA | $1,107 |
| Grayton on Dean | 1A | 1BR,1BA | $1,137 |
| Club 34 | 1x1 | 1BR,1BA | $1,175 |
| The Rosemary | Two Bedroom Two Bath | 2BR,2BA | $1,249 |
Best Value Apartments for Rent in Franklin, AL and Nearby
As of June 10, 2026 the best value apartment in the Franklin area is the $0.83 price per square foot 4 Bedroom Villa Model at Stone Park Villas in the in the Outer East neighborhood starting from $2,000. The second greatest value Franklin apartment is the Greenwich Model at The Standard at Auburn starting at $1,638 with a $0.93 price per square foot in the Downtown Auburn neighborhood. Here is today’s list of the best values for Franklin apartments based on price per square foot:
| Apartment Listing | Model Name | Bed/Bath | Price Per Sq.Ft. |
|---|---|---|---|
| Stone Park Villas | 4 Bedroom Villa | 4BR,2.5BA | $0.83 |
| The Standard at Auburn | Greenwich | 5BR,5BA | $0.93 |
| Creekside of Auburn | 4 Bedroom Townhome | 4BR,4BA | $0.51 |
| THE ONE-AUBURN | The ONE~22 | 3BR,3.5BA | $1.40 |
| The Quarters Auburn | 4x4 | 4BR,4BA | $0.42 |
| Logan Square | C2 | 3BR,3BA | $0.65 |
| 319 Bragg | 3 Bedroom 3 Bathroom C1 | 3BR,3BA | $1.11 |
| Barrington Place | Dalton | 1BR,1BA | $1.44 |
| The Grove at Stone Park | 1 Bedroom Deluxe | 1BR,1.5BA | $1.45 |
| Berry Hill Apartments | TWO BEDROOM | 2BR,2BA | $1.33 |
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.
Read ArticleReal 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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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.
Remember the 3 Rules of Real Estate:Location, Location, Location!
Explore Franklin, AL Rentals by Map
See the most popular apartments and homes in Franklin, AL
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 Atlas at Richland Road listed at $1,690.
How much is rent for a Cheap One Bedroom Franklin Apartment?
The lowest price for a Cheap One Bedroom Franklin Apartment is $965 at The Greens at Auburn I/II.
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 $999 at Atlas at Richland Road.
What is the most affordable Franklin Three Bedroom Apartment?
The best deal on a cheap Franklin Three Bedroom Apartment rental is at Atlas at Richland Road and starts from $699.
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.
Articles, How-To's, and Tips

How I Find the Perfect Rental for My Clients: A Real Estate Pro's Guide
Written by: Robin Stewart
Evaluating rental properties for clients draws many parallels to house-hunting. Whether an apartment, loft, townhouse, or other rental, finding the right place means finding “home” for your client.

Pet-Friendly Renting: Everything You Need to Know Before You Move
Written by: Christine Leonard, Esq.
For so many of us, pets are the best companions and a big part of our lives. For this reason, a pet-friendly house or apartment is often a very important - and nonnegotiable - part of a move.

Creative Ways Developers Reimagine Retail Spaces as Residential Units
Written by: Robin Stewart
Adaptive reuse is when a commercial property is converted and repurposed. The real estate industry has embraced a growing number of these projects.

Neighborhood and Market Insights: How to Choose the Right Area to Rent
Written by: Robin Stewart
Apartment-hunting can be a gargantuan task. Renters have a wish list of items—some luxuries, some necessities—but finding what you seek in the right place is perhaps the most important part of the journey.