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$1,099 - $1,4742 to 3 Bedroom Apartments Available Now
The Row Apartments
57 Schoolhouse RdFranklin, IN 46131
Cheap Apartments for Rent in Franklin, IN from $700 (16 Rentals)
Search the lowest-cost Apartments available for rent right now in Franklin.
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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.
1420 E Jefferson St
FranklinIN46131
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1410 E Jefferson St
FranklinIN46131
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$750 - $1,015Studio to 2 Bedroom Apartments Available Now
Waterbury Apartments
421 Waterbury StGreenwood, IN 46142
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$807 - $2,258Studio to 3 Bedroom Apartments Available Now
Polo Run Apartments
800 Kings Mill RdGreenwood, IN 46142
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.
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Rent Specials
$916 - $1,6111 to 3 Bedroom Apartments Available Now
Auburn Place Apartments
745 Wooddale TerGreenwood, IN 46142
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$949 - $1,5641 to 2 Bedroom Apartments Available Now
Keeneland Crest Apartments
8401 Boggs Creek DrIndianapolis, IN 46237
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$975 - $1,7401 to 3 Bedroom Apartments Available Now
Yorktowne Farms Community
1570 Countryside DrGreenwood, IN 46143
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$999 - $1,7451 to 3 Bedroom Apartments Available Now
Westminster Apartments and Townhomes
921 Parliament PlGreenwood, IN 46142
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$1,009 - $1,3841 to 2 Bedroom Apartments Available Now
Courts of Valle Vista
714 Connors DrGreenwood, IN 46143
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.
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$1,029 - $1,9991 to 2 Bedroom Apartments Available Now
The Fairways at Valle Vista
610 Paradise CtGreenwood, IN 46143
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$1,0752 Bedroom Apartments Contact Us For Availability
Park Madison Apartments
614 Madison RdGreenwood, IN 46142
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$1,089 - $1,2991 to 2 Bedroom Apartments Available Now
Stonehedge Apartments
1563 Stonehedge CtGreenwood, IN 46142
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Franklin, IN Local Guide
Johnson County courthouse in Franklin by Mingusboodle is licensed under Public Domain
How much does it cost to rent an apartment in Franklin?
| Bedroom | Average Rent | Cheapest Rent | Highest Rent |
|---|---|---|---|
| Cheap Franklin Studio Apartments | $1,225 | $750 | $1,374 |
| Cheap Franklin 1 Bedroom Apartments | $1,278 | $807 | $2,123 |
| Cheap Franklin 2 Bedroom Apartments | $1,552 | $920 | $2,584 |
| Cheap Franklin 3 Bedroom Apartments | $1,917 | $1,375 | $2,900 |
| Cheap Franklin 4 Bedroom Apartments | $1,725 | $1,725 | $1,725 |
Browse Top Apartments in Franklin
See all Apartments in FranklinExplore Franklin
Franklin, IN Local Guide
- Franklin Neighborhoods
- Nearby Cities
- ZIP codes
- Local Counties
- School Districts
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. Auburn Place Apartments in the Winchester Village neighborhood has the second lowest priced unit, which is a 1 Bed apartment currently listed from $916. Here is today’s list of the most affordable Franklin apartments for rent:
| Apartment Listing | Model Name | Bed/Bath | Priced From |
|---|---|---|---|
| Waterbury Apartments | Studio | Studio,1BA | $750 |
| Auburn Place Apartments | Bronze | 1BR,1BA | $916 |
| Polo Run Apartments | The Thoroughbred 2 BR 1 BA | 2BR,1BA | $953 |
| Yorktowne Farms Community | 1 Bed 1 Bath | 1BR,1BA | $975 |
| Courts of Valle Vista | 1Bed/1Ba-Dn (A) | 1BR,1BA | $1,009 |
Best Value Apartments for Rent in Franklin, IN
As of July 25, 2025 the best value apartment in the Franklin area is the $1.07 price per square foot Gallium Model at Copper Chase at Stones Crossing in the in the Barton Lakes neighborhood starting from $1,532. The second greatest value Franklin apartment is the 2 Bed/2.5 Bath Town Home Model at Greenwood Oaks starting at $1,489 with a $1.16 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 Listing | Model Name | Bed/Bath | Price Per Sq.Ft. |
|---|---|---|---|
| Copper Chase at Stones Crossing | Gallium | 2BR,2BA | $1.07 |
| Greenwood Oaks | 2 Bed/2.5 Bath Town Home | 2BR,2.5BA | $1.16 |
| ARLO Apartments | Nash | 2BR,2BA | $1.45 |
| Emerald Lakes | Waterford | 2BR,2BA | $1.36 |
| Keeneland Crest Apartments | Brentwood | 2BR,2BA | $1.36 |
| Stonehedge Apartments | The Luna | 2BR,1BA | $1.28 |
| St. Andrews | 2Bd/2Ba T | 2BR,2BA | $1.42 |
| Stonebrook Apartments | 2 Bed, 1 Bath Renovated | 2BR,1BA | $1.40 |
| Summit Pointe | The Tanzania | 1BR,1BA | $1.39 |
| Yorktowne Farms Community | 1 Bed 1 Bath | 1BR,1BA | $1.43 |
Quick Rent Budget Calculator
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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 LifestyleFranklin, IN
Ranked #178
Among cities in Indiana for Apartment listings with Pet Friendly Amenities.
Pet Friendliness Lifestyle Score
2.5Pet Friendly
Best Local Schools in Franklin, IN
Franklin Community High School
Franklin Community School Corp
Public School - Grades 9-12 (1610)
4 out of 10
Franklin Community Middle School
Franklin Community School Corp
Public School - Grades 7-8 (759)
6 out of 10
School data provided by Great Schools
Remember the 3 Rules of Real Estate:Location, Location, Location!
Explore Franklin, IN Rentals by Map
See the most popular apartments and homes in Franklin, IN
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 $916 at Auburn Place 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 $949 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 Yorktowne Farms Community and starts from $1,375.
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.
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.
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.