350 Miller Dr
GreenwoodIN46142
Cheap Homes for Rent in Franklin, IN from $1,200 (13 Rentals)
Search the lowest-cost Homes available for rent right now in Franklin.
123 Declaration Dr
GreenwoodIN46143
278 Walnut St
FranklinIN46131
120 Brookside Dr
New WhitelandIN46184
3741 Lima Ct
IndianapolisIN46227
77 E Jefferson 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.
73 Virgil Dr
GreenwoodIN46142
88 Keran Manor Ct
GreenwoodIN46142
637 Joy Dr
GreenwoodIN46142
464 Carol Dr
GreenwoodIN46143
1541 Brookfield Cir
FranklinIN46131
640 Walnut St
WhitelandIN46184
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.
2781 Grand Fir Dr
GreenwoodIN46143
Showing Results 1-13, Page 1 of 1
Franklin, IN Local Guide
How much does it cost to rent a home in Franklin?
| Bedroom | Average Rent | Cheapest Rent | Highest Rent |
|---|---|---|---|
| Franklin 2 Bedroom Homes for Rent | $1,388 | $1,240 | $1,595 |
| Franklin 3 Bedroom Homes for Rent | $1,941 | $1,345 | $4,500 |
| Franklin 4 Bedroom Homes for Rent | $2,314 | $1,750 | $4,950 |
| Franklin 5 Bedroom Homes for Rent | $2,672 | $2,400 | $2,995 |
Note: Properties with the Total Monthly Price badge include all required fees. Hover over the badge for details.
Browse Top Homes for Rent in Franklin
Explore Franklin
Franklin, IN Local Guide
- Franklin Neighborhoods
- Nearby Cities
- ZIP codes
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- 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 $775. Polo Run Apartments in the Winchester Village neighborhood has the second lowest priced unit, which is a 1 Bed apartment currently listed from $836. 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 |
| Polo Run Apartments | The Morgan 1 BR 1 BA | 1BR,1BA | $836 |
| The Fairways at Valle Vista | Birdie | 1BR,1BA | $899 |
| Yorktowne Farms Community | 1 Bed 1 Bath | 1BR,1BA | $975 |
| St. Andrews | 1Bd/1Ba Superior 2 Shwr | 1BR,1BA | $1,050 |
Best Value Apartments for Rent in Franklin, IN
As of June 22, 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 Platinum Model at Copper Chase at Stones Crossing starting at $1,953 with a $1.36 price per square foot in the Barton Lakes 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 |
| Copper Chase at Stones Crossing | Platinum | 3BR,2BA | $1.36 |
| Hartshire Lakes Apartments | Hawthorn | 3BR,2BA | $1.28 |
| Park Madison Apartments | Garden Style 2 Bedroom/2 Bath Apartments | 2BR,2BA | $1.09 |
| City View Farm Apartments | The Vantage | 2BR,2BA | $1.32 |
| Devonshire Apartments | The Wellington Renovated | 2BR,2BA | $1.42 |
| Pinebrook Apartments | 2x2 | 2BR,2BA | $1.39 |
| Auburn Place | 2 Bedroom 1.5 Bath | 2BR,1.5BA | $1.26 |
| Summit Pointe | The Columbus | 1BR,1BA | $1.38 |
| Yorktowne Farms Community | 1 Bed 1 Bath | 1BR,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.
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 71 Apartments for Rent in Franklin, IN with pricing that ranges from $775 to $3,227. There are also 53 Single Family Homes for rent, Condos, and Townhome rentals currently available in Franklin ranging from $1,240 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 $1,240 to $4,950 with an average monthly rent of $2,078.
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 $1,375 to $3,227, while Three Bedroom Homes, Condos, and Townhomes for rent range from $1,345 to $4,500. Four Bedroom Single-Family rentals are also available starting from $1,750 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
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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.
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.
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Apartment Occupancy Rates: Renter Attraction vs Renter Retention
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There’s a tenet in marketing about client or customer attraction and retention. Studies and data have consistently shown it costs less to keep a current customer than to attract a new one.
How I Find the Perfect Rental for My Clients: A Real Estate Pro's Guide
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Evaluating rental properties for clients draws many parallels to house-hunting. Whether an apartment, loft, townhouse, or other rental, finding the right place means finding “home” for your client.
Pet-Friendly Renting: Everything You Need to Know Before You Move
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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.
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.