1199 Hospital Rd
FranklinIN46131
Cheap Homes for Rent in Franklin, IN from $1,200 (5 Rentals)
Search the lowest-cost Homes available for rent right now in Franklin.
278 Walnut St
FranklinIN46131
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.
223 Crestwood Dr
New WhitelandIN46184
1994 Falcon Ct
FranklinIN46131
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.
1994 Falcon Ct
FranklinIN46131
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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 a home in Franklin?
| Bedroom | Average Rent | Cheapest Rent | Highest Rent |
|---|---|---|---|
| Franklin 2 Bedroom Homes for Rent | $1,557 | $1,300 | $1,815 |
| Franklin 3 Bedroom Homes for Rent | $1,908 | $1,299 | $4,500 |
| Franklin 4 Bedroom Homes for Rent | $2,248 | $1,749 | $4,950 |
Browse Top Homes for Rent in Franklin
Explore Franklin
Franklin, IN Local Guide
- Franklin Neighborhoods
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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 Listing | Model Name | Bed/Bath | Priced From |
|---|---|---|---|
| Waterbury Apartments | Studio | Studio,1BA | $775 |
| Keeneland Crest Apartments | Tuscan | 1BR,1BA | $799 |
| The Fairways at Valle Vista | Birdie | 1BR,1BA | $899 |
Best Value Apartments for Rent in Franklin, IN
As of May 08, 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 $1,349 with a $1.05 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. |
|---|---|---|---|
| The Links at Franklin | L3 | 3BR,2BA | $1.20 |
| Greenwood Oaks | 2 Bed/2.5 Bath Town Home | 2BR,2.5BA | $1.05 |
| Park Madison Apartments | 2x2 | 2BR,2BA | $1.09 |
| The Village at Sandstone Apartments | Spire | 2BR,2BA | $1.37 |
| City View Farm Apartments | The Vantage | 2BR,2BA | $1.37 |
| Pinebrook Apartments | 2x2 | 2BR,2BA | $1.39 |
| Autumn Chase | 2 Bd/2 Ba (H w/F) | 2BR,2BA | $1.27 |
| Stonehedge Apartments | The Luna | 2BR,1BA | $1.18 |
| Keeneland Crest Apartments | Hartford | 2BR,1BA | $1.41 |
| Westminster Apartments and Townhomes | Rochester | 2BR,2BA | $1.33 |
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.
Read Article
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
Read ArticleReal 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.
Read ArticleQuick 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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Best Local Schools in Franklin, IN
Franklin Community High School
Franklin Community School Corp
Public School - Grades 9-12 (1610)
6 out of 10
Franklin Community Middle School
Franklin Community School Corp
Public School - Grades 6-8 (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
Frequently Asked Questions about Franklin
What type of rentals are currently available in Franklin?
There are currently 70 Apartments for Rent in Franklin, IN with pricing that ranges from $775 to $3,230. There are also 41 Single Family Homes for rent, Condos, and Townhome rentals currently available in Franklin ranging from $1,299 to $4,950.
What is the current price range for Rental Homes in Franklin?
Today's rental pricing for Homes for Rent, Condos and Townhomes in Franklin ranges from $1,299 to $4,950 with an average monthly rent of $1,904.
How much are larger Three and Four Bedroom Rentals in Franklin?
For those who are looking for larger living arrangements, Three Bedroom Apartments in Franklin range from $1,350 to $3,230, while Three Bedroom Homes, Condos, and Townhomes for rent range from $1,299 to $4,500. Four Bedroom Single-Family rentals are also available starting from $1,749 and Four Bedroom Apartments start at $1,760.
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
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.
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.
Find Your Indy Home: A Guide to Indianapolis Apartment Rentals and Neighborhoods
Written by: Wendy Melton
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.
Indys Innovation Hub: Top Indianapolis Employers and the Neighborhoods that Welcome You Home
Written by: Wendy Melton
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
A Seasoned Property Manager's Step-by-Step Guide to Getting Your Deposit Back
Written by: Lauren Harrington
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.
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.
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.
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.