Cheap Apartments for Rent in Franklin, AL from $500 (15 Rentals)

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

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.

The Art of the Rental Viewing: What to look for during a property tour

Touring a rental? This guide helps you know exactly what to look for, from safety features to hidden flaws, so you can confidently sign your lease or keep searching.

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The Union Auburn
2 to 6 Bedroom Apartments

The Union Auburn

900 W Glenn AveAuburn, AL 36832
Student Housing
  • Utilities Included

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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Woodland Hills
1 to 2 Bedroom Apartments

Woodland Hills

830 N Donahue DrAuburn, AL 36832
  • Utilities Included
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320 West Mag
1 to 5 Bedroom Apartments

320 West Mag

320 W Magnolia AveAuburn, AL 36832
Student Housing
  • Utilities Included

Franklin, AL Local Guide

Cheapest Available Franklin Apartments for Rent and Nearby

 

The cheapest available apartment rental in Franklin, AL is a 1 Bed unit found at The Rosemary in the Halcyon Park neighborhood priced from $917. Shepherds Cove Apartments in the North Auburn neighborhood has the second lowest priced unit, which is a 2 Beds apartment currently listed from $925. Here is today’s list of the most affordable Franklin apartments for rent:

Apartment ListingModel NameBed/BathPriced From
The RosemaryOne Bedroom One Bath1BR,1BA$917
Shepherds Cove Apartments2 Bed x 1.5 Bath Townhome2BR,1BA$925
The Fairways at Auburn I/IIClassic Deluxe II/IV1BR,1BA$935
The Greens at Auburn I/IIClassic Deluxe II1BR,1BA$935
Oakley Cove Apartments2 Beds, 1 bath2BR,1BA$995

Best Value Apartments for Rent in Franklin, AL and Nearby

As of June 24, 2025 the best value apartment in the Franklin area is the $1.52 price per square foot The ONE~22 Model at THE ONE-AUBURN in the in the North Auburn neighborhood starting from $2,600. The second greatest value Franklin apartment is the 3 Bedroom Model at The Grove at Stone Park starting at $1,569 with a $1.02 price per square foot in the Outer East 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.
THE ONE-AUBURNThe ONE~223BR,3.5BA$1.52
The Grove at Stone Park3 Bedroom3BR,2BA$1.02
Creekside of Auburn3 Bedroom Flat3BR,3BA$0.70
319 Bragg2 Bedroom 2 Bathroom B12BR,2BA$1.37
Verandas at Mitylene22BR,1BA$1.25
The Mill at AuburnB1 Flooring2BR,2BA$1.05
Oakley Cove Apartments2 Beds, 1 bath2BR,1BA$1.16
Shepherds Cove Apartments2 Bed x 1.5 Bath Townhome2BR,1.5BA$1.09
Summer Wind Apartments1x11BR,1BA$1.47
The RosemaryOne Bedroom One Bath1BR,1BA$1.50

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Remember the 3 Rules of Real Estate:
Location, Location, Location!

Explore Franklin, AL Rentals by Map

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Getting Around Franklin, AL

Walk Score®

2 / 100

Car-Dependent

Almost all errands require a car

Bike Score®

22 / 100

Somewhat Bikeable

Minimal bike infrastructure

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 $917 at The Rosemary.

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 $925 at Shepherds Cove Apartments.

What is the most affordable Franklin Three Bedroom Apartment?

The best deal on a cheap Franklin Three Bedroom Apartment rental is at Shepherds Cove Apartments and starts from $985.

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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Roommate Matching: Finding the Right Fit and Avoiding Pitfalls

Written by: Cheryl Bowman

A fantastic way to save money and enjoy a built-in community is to share an apartment. However, a bad roommate situation can turn your dream rental into a nightmare.

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The Art of the Rental Viewing: What to look for during a property tour

Written by: Marie Brown

You’ve scrolled through countless listings, walked through a blur of rentals, and finally found what feels like the one. The pictures? Fantastic. The neighborhood seems just right.

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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.

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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.