Cheap Apartments for Rent in Franklin, AL from $500 (36 Rentals)

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

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Shepherds Cove Apartments
$1,045 - $1,135
Total Monthly Price

Total Monthly Price

Base Rent
$1,045 - $1,135

Total Monthly Price
$1,045 - $1,135
2 to 3 Bedroom Apartments Contact Us For Availability

Shepherds Cove Apartments

1330 Shug Jordan PkyAuburn, AL 36832
Affordability
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Arbors On Taylor
$1,047 - $1,691
Total Monthly Price

Total Monthly Price

Base Rent
$1,047 - $1,691

Total Monthly Price
$1,047 - $1,691
1 Bedroom Apartments Available Jun 15

Arbors On Taylor

485 Taylor RdMontgomery, AL 36117
Furnished
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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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The Rosemary
Rent Specials
$1,120 - $1,681
Total Monthly Price

Total Monthly Price

Base Rent
$1,120 - $1,681

Total Monthly Price
$1,120 - $1,681
1 to 3 Bedroom Apartments Available Now

The Rosemary

135 Hambleton RdMontgomery, AL 36117
Corporate Housing
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Grayton on Dean
$1,137 - $1,667
Total Monthly Price

Total Monthly Price

Base Rent
$1,137 - $1,667

Total Monthly Price
$1,137 - $1,667
1 to 3 Bedroom Apartments Available Now

Grayton on Dean

420 N Dean RdAuburn, AL 36830
Family Friendly
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Club 34
$1,175 - $1,550
Total Monthly Price

Total Monthly Price

Base Rent
$1,175 - $1,550

Total Monthly Price
$1,175 - $1,550
1 to 3 Bedroom Apartments Available Now

Club 34

1000 N Donahue DrAuburn, AL 36832
Student Housing
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The Domain On Donahue
$1,200 - $1,500
Total Monthly Price

Total Monthly Price

Base Rent
$1,200 - $1,500

Total Monthly Price
$1,200 - $1,500
2 Bedroom Apartments Available Aug 14

The Domain On Donahue

1001 N Donahue DrAuburn, AL 36832
Student Housing
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Peppertree
$1,359 - $1,779
Total Monthly Price

Total Monthly Price

Base Rent
$1,359 - $1,779

Total Monthly Price
$1,359 - $1,779
1 to 3 Bedroom Apartments Available Jun 12

Peppertree

8201 Vaughn RdMontgomery, AL 36116
Eco-Friendly
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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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Barrington Place
$1,444 - $1,924
Total Monthly Price

Total Monthly Price

Base Rent
$1,444 - $1,924

Total Monthly Price
$1,444 - $1,924
1 to 3 Bedroom Apartments Available Now

Barrington Place

280 New Haven BlvdMontgomery, AL 36117
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property at 2038 Lee Rd 137

$505

4 Bedroom, 3.5 Bath Home for Rent

Available Now

2038 Lee Rd 137

AuburnAL36832
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Woodland Hills
1 to 2 Bedroom Apartments

Woodland Hills

830 N Donahue DrAuburn, AL 36832
  • Utilities Included

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.

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.

Franklin, AL Local Guide

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 ListingModel NameBed/BathPriced From
The Quarters Auburn4x44BR,4BA$590
Atlas at Richland Road3BR/2.5BA - Duplex - Furnished3BR,2BA$699
The Greens at Auburn I/IIClassic Deluxe II1BR,1BA$965
The Fairways at Auburn I/IIClassic Deluxe II/IV1BR,1BA$965
Oakley Cove Apartments2 Beds, 1 bath2BR,1BA$1,025
Summer Brooke Apartmentsone bedroom1BR,1BA$1,100
Village West Apartments IIThe Plains1BR,1BA$1,107
Grayton on Dean1A1BR,1BA$1,137
Club 341x11BR,1BA$1,175
The RosemaryTwo Bedroom Two Bath2BR,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 ListingModel NameBed/BathPrice Per Sq.Ft.
Stone Park Villas4 Bedroom Villa4BR,2.5BA$0.83
The Standard at AuburnGreenwich5BR,5BA$0.93
Creekside of Auburn4 Bedroom Townhome4BR,4BA$0.51
THE ONE-AUBURNThe ONE~223BR,3.5BA$1.40
The Quarters Auburn4x44BR,4BA$0.42
Logan SquareC23BR,3BA$0.65
319 Bragg3 Bedroom 3 Bathroom C13BR,3BA$1.11
Barrington PlaceDalton1BR,1BA$1.44
The Grove at Stone Park1 Bedroom Deluxe1BR,1.5BA$1.45
Berry Hill ApartmentsTWO BEDROOM2BR,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.

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

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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

decorative image for How I Find the Perfect Rental for My Clients: A Real Estate Pro's Guide article

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.

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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.

decorative image for Creative Ways Developers Reimagine Retail Spaces as Residential Units  article

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.

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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.