Cheap Apartments for Rent in Franklin, IN from $700 (53 Rentals)

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

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Green Acre Apartments
2 Bedroom Apartments

Green Acre Apartments

1700 Preidt CirFranklin, IN 46131
  • Utilities Included

Indy's Innovation Hub: Top Indianapolis Employers and the Neighborhoods that Welcome You Home

Find your dream job and perfect neighborhood in Indy. Discover major companies and the best places to live for young professionals and families, from historic districts to quiet, upscale communities.

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The Row Apartments
2 to 3 Bedroom Apartments

The Row Apartments

57 Schoolhouse RdFranklin, IN 46131
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301 W Adams St
2 Bedroom Apartments

301 W Adams St

301 W Adams StFranklin, IN 46131
Student Housing
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401 N Main St
2 Bedroom Apartments

401 N Main St

401 N Main StFranklin, IN 46131
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Brixin Franklin
2 to 4 Bedroom Apartments

Brixin Franklin

1600 Traditions CtFranklin, IN 46131
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Brookfield Townhomes
2 to 3 Bedroom Apartments

Brookfield Townhomes

1543-1578 Brookfield CirFranklin, IN 46131
  • Utilities Included

Rent According to Income: A Look at Income-Restricted Rentals

Find income-restricted rentals and housing subsidies. Explore government programs designed to help low-income families secure stable, affordable housing.

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Find Your Indy Home: A Guide to Indianapolis Apartment Rentals and Neighborhoods

Discover the heart of the Midwest! Learn about popular Indianapolis neighborhoods to rent like Speedway and Eagledale, plus top universities and can't-miss places to eat.

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Summit Pointe
$1,206 - $2,418
Total Monthly Price

Total Monthly Price

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$1,206 - $2,418
Total Monthly Price
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1 to 3 Bedroom Apartments Available Now

Summit Pointe

2400 E Main StGreenwood, IN 46143
Corporate Housing
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Renters Insurance 101: What It Is, What It Covers, and Why You Need It

From theft to fire to water damage, the unexpected can happen to any renter. Discover why renters insurance is one of the smartest and most affordable investments you can make as a tenant.

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Grove Crossing
Rent Specials
$1,345 - $1,675
Total Monthly Price

Total Monthly Price

Base Rent
$1,345 - $1,675
Total Monthly Price
$1,345 - $1,675
1 to 2 Bedroom Apartments Available Now

Grove Crossing

1680 Grove Crossing BlvdGreenwood, IN 46143
Senior Living
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Stonehedge Apartments
1 to 2 Bedroom Apartments

Stonehedge Apartments

1563 Stonehedge CtGreenwood, IN 46142
Corporate Housing
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Emerald Lakes
1 to 2 Bedroom Apartments

Emerald Lakes

1180 Emerald Lakes DrGreenwood, IN 46143

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

Finding the right apartment starts with three things: location, cost, and amenities. Get the insider perspective from a real estate professional on how to nail all three.

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Showing Results 1-50, Page 1 of 2

Franklin, IN Local Guide

Cheapest Available Franklin Apartments for Rent

 

The cheapest available apartment rental in Franklin, IN is a Studio unit found at Waterbury Apartments in the Tracy Commons neighborhood priced from $775. The Fairways at Valle Vista in the Tracy Commons neighborhood has the second lowest priced unit, which is a 1 Bed apartment currently listed from $899. Here is today’s list of the most affordable Franklin apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Waterbury ApartmentsStudioStudio,1BA$775
The Fairways at Valle VistaBirdie1BR,1BA$899
Courts of Valle Vista1Bed/1Ba-Up (B)1BR,1BA$939
Polo Run ApartmentsThe Thoroughbred 2 BR 1 BA2BR,1BA$955
Yorktowne Farms Community1 Bed 1 Bath1BR,1BA$1,000
St. Andrews1Bd/1Ba Superior 2 Shwr1BR,1BA$1,030
Mission HillsA2 Costa Mesa1BR,1BA$1,039
Ashmore Trace1 Bedroom Apartment1BR,1BA$1,083
Stonehedge ApartmentsThe Terra1BR,1BA$1,089
Westminster Apartments and TownhomesLancaster2BR,1BA$1,095

Best Value Apartments for Rent in Franklin, IN

As of July 25, 2026 the best value apartment in the Franklin area is the $1.20 price per square foot L3 Model at The Links at Franklin in the in the Cityview Farm neighborhood starting from $1,937. The second greatest value Franklin apartment is the 3 Bedroom 1.5 Bath Model at Auburn Place starting at $1,675 with a $1.15 price per square foot in the Winchester Village 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 Links at FranklinL33BR,2BA$1.20
Auburn Place3 Bedroom 1.5 Bath3BR,1.5BA$1.15
City View Farm ApartmentsThe Panorama3BR,2BA$1.33
Pinebrook Apartments2x22BR,2BA$1.39
Westminster Apartments and TownhomesLincoln3BR,2BA$1.32
Hartshire Lakes ApartmentsBayberry2BR,2BA$1.36
Copper Chase at Stones CrossingBismuth1BR,1BA$1.32
Autumn Chase1 Bd/1 Ba (C w/View)1BR,1BA$1.46
St. Andrews1Bd/1Ba Superior Tub1BR,1BA$1.41
Yorktowne Farms Community1 Bed 1 Bath1BR,1BA$1.46

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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Your Guide to Picking the Perfect Indianapolis Neighborhood for Student Renters

Learn About the Best Neighborhoods to Rent Near College Campuses in Indianapolis, IN | Find Charlotte Indianapolis Student Housing at ApartmentHomeLiving.com

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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:
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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 Waterbury Apartments listed at $775.

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

The lowest price for a Cheap One Bedroom Franklin Apartment is $899 at The Fairways at Valle Vista.

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 $955 at Polo Run Apartments.

What is the most affordable Franklin Three Bedroom Apartment?

The best deal on a cheap Franklin Three Bedroom Apartment rental is at Westminster Apartments and Townhomes and starts from $1,350.

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.

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Indianapolis is truly the heart of the Midwest. No matter what career path you choose, opportunities for advancement are everywhere.

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Rent According to Income: A Look at Income-Restricted Rentals

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The idea of affordable housing can be subjective. Every individual is in a different place financially and vocationally. What one may easily afford could be a struggle for someone else.

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Insurance seems to be a part of life. In some states, having insurance is the law, as is the case for automobile insurance. Renters are no exception.

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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.