Cheap Apartments for Rent in Franklin, IN from $600 (58 Rentals)

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

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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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Green Acre Apartments
2 Bedroom Apartments

Green Acre Apartments

1700 Preidt CirFranklin, IN 46131
  • Utilities Included
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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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The Row Apartments
2 to 3 Bedroom Apartments

The Row Apartments

57 Schoolhouse RdFranklin, IN 46131

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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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

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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Summit Pointe
$1,213 - $1,892
Total Monthly Price

Total Monthly Price

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$1,213 - $1,892
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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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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.

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property at 138 Crestwood Dr

$1,300

Total Monthly Price

Total Monthly Price

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$1,300
Total Monthly Price
$1,300

3 Bedroom, 1 Bath Home for Rent

Available Now

138 Crestwood Dr

New WhitelandIN46184
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Grove Crossing
Rent Specials
$1,345 - $1,675
Total Monthly Price

Total Monthly Price

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$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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  • Customer Reviewed
  • Utilities Included

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.

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Stonehedge Apartments
1 to 2 Bedroom Apartments

Stonehedge Apartments

1563 Stonehedge CtGreenwood, IN 46142
Corporate Housing

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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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 2 Beds unit found at 401 N Main St in the Cityview Farm neighborhood priced from $650. Waterbury Apartments in the Tracy Commons neighborhood has the second lowest priced unit, which is a Studio apartment currently listed from $775. Here is today’s list of the most affordable Franklin apartments for rent:

Apartment ListingModel NameBed/BathPriced From
401 N Main St2 Beds, 1 Baths2BR,1BA$650
Waterbury ApartmentsStudioStudio,1BA$775
Polo Run ApartmentsThe Pinto 2 BR 1 BA2BR,1BA$874
The Fairways at Valle VistaBirdie1BR,1BA$899
Keeneland Crest ApartmentsBristol1BR,1BA$949
Courts of Valle Vista1Bd/1Ba-Dn (BV)1BR,1BA$959
Yorktowne Farms Community1 Bed 1 Bath1BR,1BA$975
St. Andrews1Bd/1Ba Superior Tub1BR,1BA$1,040
Stonehedge ApartmentsThe Terra1BR,1BA$1,089
Autumn Chase1 Bd/1 Ba (C)1BR,1BA$1,099

Best Value Apartments for Rent in Franklin, IN

As of June 09, 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 2 Bed/2.5 Bath Town Home Model at Greenwood Oaks starting at $1,424 with a $1.11 price per square foot in the Tracy Commons 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
Greenwood Oaks2 Bed/2.5 Bath Town Home2BR,2.5BA$1.11
Summit PointeThe Denali2BR,2BA$1.18
Westminster Apartments and TownhomesAshby Townhome2BR,1.5BA$1.35
City View Farm ApartmentsThe Vantage2BR,2BA$1.34
Auburn Place2 Bedroom 1.5 Bath2BR,1.5BA$1.27
Hartshire Lakes ApartmentsBayberry2BR,2BA$1.32
Keeneland Crest ApartmentsCamden2BR,1BA$1.34
401 N Main St2 Beds, 1 Baths2BR,1BA$0.72
Yorktowne Farms Community1 Bed 1 Bath1BR,1BA$1.43

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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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 $650 at 401 N Main St.

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.

Helpful Local Expert Guides

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A Local Expert’s Guide To 10 Budget-Friendly Neighborhoods to Rent in Indianapolis

Written by: Wendy Melton

Indianapolis is not only the state capital of Indiana, it’s also a shining example of what Midwestern living is all about. I’m Wendy, your ApartmentHomeLiving.

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Your Guide to Picking the Perfect Indianapolis Neighborhood for Student Renters

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Indianapolis is well-known for being one of the top college cities in the country. Local colleges and universities are ranked in the Top 10 when it comes to sports and academic excellence.

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

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My name is Wendy, and I've lived in Indiana for most of my life. Indianapolis is our state capital, and many people consider it the heart of the Midwest. People come from all around to explore everything Indianapolis has to offer.

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Indys Innovation Hub: Top Indianapolis Employers and the Neighborhoods that Welcome You Home

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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.

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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

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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.

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I’m going to talk with you as a seasoned property manager and friend. So, let’s start with your security deposit. I want you to think about this guide as insider information. You deserve your deposit back.