Cheap Apartments for Rent in Franklin, IN from $700 (55 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
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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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301 W Adams St
2 Bedroom Apartments

301 W Adams St

301 W Adams StFranklin, IN 46131
Student Housing
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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
$977 - $1,715
Total Monthly Price

Total Monthly Price

Base Rent
$977 - $1,715
Total Monthly Price
Varies
1 to 3 Bedroom Apartments Available Now

Summit Pointe

2400 E Main StGreenwood, IN 46143
Corporate Housing
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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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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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Grove Crossing
Rent Specials
$1,395 - $1,720
Total Monthly Price

Total Monthly Price

Base Rent
$1,395 - $1,720
Total Monthly Price
$1,395 - $1,720
1 to 2 Bedroom Apartments Available Now

Grove Crossing

1680 Grove Crossing BlvdGreenwood, IN 46143
Senior Living
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  • Utilities Included
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Pleasant Creek Apartments
Studio to 2 Bedroom Apartments

Pleasant Creek Apartments

2816 E County Line RdIndianapolis, IN 46227
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Stonehedge Apartments
1 to 2 Bedroom Apartments

Stonehedge Apartments

1563 Stonehedge CtGreenwood, IN 46142
Corporate Housing

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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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. Keeneland Crest Apartments in the Southeast Indianapolis neighborhood has the second lowest priced unit, which is a 1 Bed apartment currently listed from $799. Here is today’s list of the most affordable Franklin apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Waterbury ApartmentsStudioStudio,1BA$775
Keeneland Crest ApartmentsTuscan1BR,1BA$799
Polo Run ApartmentsThe Palomino 1 BR 1 BA1BR,1BA$841
The Fairways at Valle VistaBirdie1BR,1BA$899
Auburn Place2 Bedroom 1 Bath2BR,1BA$956
Courts of Valle Vista1Bd/1Ba-Up (DV)1BR,1BA$964
Yorktowne Farms Community1 Bed 1 Bath1BR,1BA$975
Summit PointeThe Columbus1BR,1BA$977
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 April 24, 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 $1,399 with a $1.09 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$1.09
Park Madison Apartments2x2 R-Prem2BR,2BA$1.13
The Village at Sandstone ApartmentsSpire2BR,2BA$1.36
Westminster Apartments and TownhomesAshby Townhome2BR,1.5BA$1.35
Devonshire ApartmentsThe Wellington Renovated2BR,2BA$1.41
Pinebrook Apartments2x22BR,2BA$1.39
Auburn Place2 Bedroom 1 Bath2BR,1BA$1.00
Stonebrook of Franklin2 Bed, 1 Bath Renovated2BR,1BA$1.40
Summit PointeThe Tanzania1BR,1BA$1.33

10 Hidden Costs of Renting You Should Budget for Before Signing a Lease

Avoid financial stress when renting. Learn about the 10 most common hidden costs—from pet fees to utilities—you must budget for before you sign a lease.

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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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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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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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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 $799 at Keeneland Crest Apartments.

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 $931 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.

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

Written by: Wendy Melton

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

Articles, How-To's, and Tips

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Expert Solutions for Creating the Perfect Work-From-Home Apartment Layouts

Written by: Lauren Harrington

This article is based on first-hand experience managing apartment communities and helping renters adapt to their spaces after moving in.

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What Does “Rent Burdened” Mean? How Much Rent Is Too Much

Written by: Lauren Harrington

This article draws from first-hand renter experiences and recurring financial challenges reported after moving in.

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Maximizing Your Refund: Essential Tax Tips for Renters

Written by: Christine Leonard, Esq.

Other than tax professionals, I can’t think of anyone who looks forward to tax season. For everybody else, April is a stressful month to collect information and meet deadlines.

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18 Must-Ask Rental Tour Questions That Reveal the Truth about a Property

Written by: Lauren Harrington

Renting your next home can feel thrilling and overwhelming at the same time.