Cheap Apartments for Rent in Franklin, AL from $500 (15 Rentals)
Search the lowest-cost Apartments available for rent right now in Franklin.

Notasulga Villas

Shepherds Cove Apartments

The Greens at Auburn I/II
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 Fairways at Auburn I/II

Oakley Cove Apartments

Summer Brooke Apartments
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.

1304 Auburn St
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.

1 Redbud Ct
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 | $1,837 | $1,800 | $1,875 |
Franklin 1 Bedroom Apartments | $1,242 | $662 | $1,860 |
Franklin 2 Bedroom Apartments | $1,358 | $840 | $2,160 |
Franklin 3 Bedroom Apartments | $2,010 | $610 | $3,800 |
Franklin 4 Bedroom Apartments | $1,128 | $560 | $2,400 |
Browse Top Apartments in Franklin
See all Apartments in FranklinExplore Franklin
Franklin, AL Local Guide
- Nearby Cities
- ZIP codes
- Local Counties
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 Listing | Model Name | Bed/Bath | Priced From |
---|---|---|---|
The Rosemary | One Bedroom One Bath | 1BR,1BA | $917 |
Shepherds Cove Apartments | 2 Bed x 1.5 Bath Townhome | 2BR,1BA | $925 |
The Fairways at Auburn I/II | Classic Deluxe II/IV | 1BR,1BA | $935 |
The Greens at Auburn I/II | Classic Deluxe II | 1BR,1BA | $935 |
Oakley Cove Apartments | 2 Beds, 1 bath | 2BR,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 Listing | Model Name | Bed/Bath | Price Per Sq.Ft. |
---|---|---|---|
THE ONE-AUBURN | The ONE~22 | 3BR,3.5BA | $1.52 |
The Grove at Stone Park | 3 Bedroom | 3BR,2BA | $1.02 |
Creekside of Auburn | 3 Bedroom Flat | 3BR,3BA | $0.70 |
319 Bragg | 2 Bedroom 2 Bathroom B1 | 2BR,2BA | $1.37 |
Verandas at Mitylene | 2 | 2BR,1BA | $1.25 |
The Mill at Auburn | B1 Flooring | 2BR,2BA | $1.05 |
Oakley Cove Apartments | 2 Beds, 1 bath | 2BR,1BA | $1.16 |
Shepherds Cove Apartments | 2 Bed x 1.5 Bath Townhome | 2BR,1.5BA | $1.09 |
Summer Wind Apartments | 1x1 | 1BR,1BA | $1.47 |
The Rosemary | One Bedroom One Bath | 1BR,1BA | $1.50 |
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.
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
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
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 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.

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.

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.

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.

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.