Cheap Apartments for Rent in Franklin, IN from $700 (20 Rentals)

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Green Acre Apartments
2 Bedroom Apartments

Green Acre Apartments

1700 Preidt 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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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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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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Pleasant Creek Apartments
Studio to 2 Bedroom Apartments

Pleasant Creek Apartments

2816 E County Line RdIndianapolis, IN 46227
  • Utilities Included
Showing Results 1-20, Page 1 of 1

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 $750. Courts of Valle Vista in the Tracy Commons neighborhood has the second lowest priced unit, which is a 1 Bed apartment currently listed from $914. Here is today’s list of the most affordable Franklin apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Waterbury ApartmentsStudioStudio,1BA$750
Courts of Valle Vista1Bd/1Ba-Up (BV)1BR,1BA$914
Westminster Apartments and TownhomesStafford1BR,1BA$945
Summit PointeThe Columbus1BR,1BA$975
Keeneland Crest ApartmentsTuscan1BR,1BA$999

Best Value Apartments for Rent in Franklin, IN

As of October 24, 2025 the best value apartment in the Franklin area is the $1.05 price per square foot L3-SUN Model at The Links at Franklin in the in the Cityview Farm neighborhood starting from $2,000. The second greatest value Franklin apartment is the Spire Model at The Village at Sandstone Apartments starting at $1,500 with a $1.35 price per square foot in the Buffalo Creek 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 FranklinL3-SUN3BR,2BA$1.05
The Village at Sandstone ApartmentsSpire2BR,2BA$1.35
Emerald LakesWaterford2BR,2BA$1.39
Yorktowne Farms Community2 Bed 2.5 Bath Townhome2BR,2.5BA$1.25
Autumn Chase2 Bd/2 Ba (H w/V)2BR,2BA$1.28
Hartshire Lakes ApartmentsDogwood2BR,2BA$1.40
Copper Chase at Stones CrossingBismuth1BR,1BA$1.28
Brixin FranklinC1r2BR,2BA$1.37
Summit PointeThe Tanzania1BR,1BA$1.19
Westminster Apartments and TownhomesRochester2BR,2BA$1.36

Apartment Common Area Rules: What Renters Need to Know

From the lounge to the laundry room, understand your rights and responsibilities in shared apartment spaces. Get tips on pet rules, noise, and security.

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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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The Ultimate Long-Distance Moving Checklist: Tips from a Real Estate Pro

Moving is tough, especially long-distance. Learn how to minimize stress & expenses with proven strategies from a real estate pro, covering everything from logistics to finances.

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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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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.

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Pet Friendly Lifestyle
Franklin, IN

Ranked #178

Among cities in Indiana for Apartment listings with Pet Friendly Amenities.

Pet Friendliness Lifestyle Score

2.5
Pet Friendly

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Best Local Schools in
Franklin, IN

School data provided by Great Schools

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

Explore Franklin, IN Rentals by Map

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See the most popular apartments and homes in Franklin, IN

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Getting Around Franklin, IN

Walk Score®

35 / 100

Car-Dependent

Most errands require a car

Bike Score®

42 / 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

What is the Cheapest Studio apartment in Franklin?

Currently the most affordable Cheap Studio Apartment in Franklin is at Waterbury Apartments listed at $750.

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

The lowest price for a Cheap One Bedroom Franklin Apartment is $914 at Courts of 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 $999 at Westminster Apartments and Townhomes.

What is the most affordable Franklin Three Bedroom Apartment?

The best deal on a cheap Franklin Three Bedroom Apartment rental is at Summit Pointe and starts from $1,328.

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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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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Apartment Common Area Rules: What Renters Need to Know

Written by: Christine Leonard, Esq.

Back in the day when I rented one of my first apartments, the property didn’t even have laundry in the building. Now, rental properties are often competing against each other to provide the best amenities.

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How to Negotiate Your Apartment Lease and Save Money

Written by: Christine Leonard, Esq.

Everything is a negotiation in real estate! 

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The Rental Move-In Inspection Checklist: A Guide for Renters

Written by: Trey Huguley

The move-in inspection checklist is a crucial tool for both tenants and landlords. This checklist, provided by the team at ApartmentHomeLiving.com, helps document the condition of an apartment at the time of move-in.