Cheap Apartments for Rent in Franklin, MI from $800 (38 Rentals)

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Search the lowest-cost Apartments available for rent right now in Franklin.

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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property at 30060 W 12 Mile Rd

$1,500

Total Monthly Price

Total Monthly Price

Base Rent
$1,500
Total Monthly Price
$1,500

2 Bedroom, 2 Bath Condo for Rent

Available Now

30060 W 12 Mile Rd, Unit 86

30060 W 12 Mile Rd
Farmington HillsMI48334

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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property at 30042 W 12 Mile Rd

$1,550

Total Monthly Price

Total Monthly Price

Base Rent
$1,550
Total Monthly Price
$1,550

2 Bedroom, 2 Bath Condo for Rent

Available Now

30042 W 12 Mile Rd, Unit 56

30042 W 12 Mile Rd
Farmington HillsMI48334
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Imperial Apartments
Studio to 3 Bedroom Apartments

Imperial Apartments

27600 Franklin RdSouthfield, MI 48034
  • Utilities Included
property at 32005 W 12 Mile Rd

$1,180

1 Bedroom, 1 Bath Condo for Rent

Available Now

32005 W 12 Mile Rd

Farmington HillsMI48334

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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Parc on 12
1 to 2 Bedroom Apartments

Parc on 12

24710 W 12 Mile RdSouthfield, MI 48034
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Pebble Creek
1 to 3 Bedroom Apartments

Pebble Creek

28600 Pebblecreek PkySouthfield, MI 48034
  • Utilities Included
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Wakefield Apartments
2 to 3 Bedroom Apartments

Wakefield Apartments

29090 Tiffany Dr ESouthfield, MI 48034
  • Utilities Included
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Twyckingham Valley
1 to 2 Bedroom Apartments

Twyckingham Valley

22277 W 12 Mile RdSouthfield, MI 48034
  • Utilities Included
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14 Mile Condo 80
1 Bedroom Apartments

14 Mile Condo 80

30475 W 14 MILEFarmington Hills, MI 48334
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Colony Park Apartments
1 to 2 Bedroom Apartments

Colony Park Apartments

21890 Colony Park CirSouthfield, MI 48076
Senior Living

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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Showing Results 1-38, Page 1 of 1

Franklin, MI Local Guide

Cheapest Available Franklin Apartments for Rent and Nearby

 

The cheapest available apartment rental in Franklin, MI is a Studio unit found at Oak Ridge in the West Side neighborhood priced from $800. Regal Towers in the Woodcreek neighborhood has the second lowest priced unit, which is a 1 Bed apartment currently listed from $849. Here is today’s list of the most affordable Franklin apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Oak RidgeStudioStudio,1BA$800
Regal Towers1 Bedroom1BR,1BA$849
Pine AireStudioStudio,1BA$915
The FranklinStudio - AStudio,1BA$1,005
The PinesOne Bedroom1BR,1BA$1,055
Parc on 12Nelson - Edward1BR,1BA$1,060
Woodcrest Apartments1 Bedroom / 1 Bath lower1BR,1BA$1,110
The Addison at SouthfieldA11BR,1BA$1,216
Franklin River Apartments1B1BR,1BA$1,225
Village Club on FranklinA1 (One Bedroom w/Den)1BR,1BA$1,301

Best Value Apartments for Rent in Franklin, MI and Nearby

As of June 11, 2026 the best value apartment in the Franklin area is the $1.37 price per square foot The Charleston Model at Edge At Farmington Hills - Farmington Hills, MI in the in the Woodcreek neighborhood starting from $2,500. The second greatest value Franklin apartment is the 3 Bed 1.5 Bath Model at The Lakes starting at $2,000 with a $1.44 price per square foot in the Woodcreek 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.
Edge At Farmington Hills - Farmington Hills, MIThe Charleston2BR,2BA$1.37
The Lakes3 Bed 1.5 Bath3BR,1.5BA$1.44
Uptown 11 Townhouses2 Bedroom 1.5 Bath2BR,1.5BA$1.45
Carnegie Park ApartmentsA2 Renovated1BR,1BA$1.52
Colony Park ApartmentsThe Addington (1BR / 1BA with Den)1BR,1BA$1.49
Franklin River Apartments1BR1BR,1BA$1.63
The PinesOne Bedroom1BR,1BA$1.26
Woodcrest Apartments1 Bedroom / 1 Bath upper1BR,1BA$1.35
Regal Towers1 Bedroom1BR,1BA$1.29
The FranklinStudio - AStudio ,1BA$1.60

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 Best Detroit Area Neighborhoods for Off-Campus Housing Renters

A Local Expert's guide to the Best Student Friendly Neighborhoods Near Colleges in the Detroit area for Off-Campus Student Housing. Find your perfect Detroit Student apartment, condo, or rental home today at ApartmentHomeliving.com

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Real 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.

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

Explore Franklin, MI Rentals by Map

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See the most popular apartments and homes in Franklin, MI

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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 Oak Ridge listed at $800.

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

The lowest price for a Cheap One Bedroom Franklin Apartment is $849 at Regal Towers.

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 $1,015 at Oak Ridge.

What is the most affordable Franklin Three Bedroom Apartment?

The best deal on a cheap Franklin Three Bedroom Apartment rental is at Regal Towers and starts from $1,349.

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

decorative image for A Detroit Local Expert’s Guide to the 10 Best Budget-Friendly Neighborhoods to Rent article

A Detroit Local Expert’s Guide to the 10 Best Budget-Friendly Neighborhoods to Rent

Written by: Tim Brown

I'm Tim, your ApartmentHomeLiving.com Local Expert for Detroit, Michigan. My family and I have lived in metro Detroit since the late 1990s.

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The Best Detroit Area Neighborhoods for Off-Campus Housing Renters

Written by: Tim Brown

Detroit is an exciting and vibrant city with many educational and employment opportunities, and many neighborhoods to choose from while attending school.

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The Detroit Insiders Renting Guide: A Locals Look Under the Hood of Motown

Written by: Tim Brown

I'm Tim, your ApartmentHomeLiving.com Local Expert for Detroit, Michigan. My family and I have lived in metro Detroit since the late 1990s and have witnessed the city and its surrounding metro area undergo a renaissance.

decorative image for Relocate to Detroit: Top Neighborhoods and Apartment Options Near Major Area Employers article

Relocate to Detroit: Top Neighborhoods and Apartment Options Near Major Area Employers

Written by: Tim Brown

The auto industry remains the largest employment sector in the Motor City and surrounding communities, though the metro area has a significant presence in other sectors, including medical and financial services.

Articles, How-To's, and Tips

decorative image for How I Find the Perfect Rental for My Clients: A Real Estate Pro's Guide article

How I Find the Perfect Rental for My Clients: A Real Estate Pro's Guide

Written by: Robin Stewart

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.

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Pet-Friendly Renting: Everything You Need to Know Before You Move

Written by: Christine Leonard, Esq.

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.

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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.

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Neighborhood and Market Insights: How to Choose the Right Area to Rent

Written by: Robin Stewart

Apartment-hunting can be a gargantuan task. Renters have a wish list of items—some luxuries, some necessities—but finding what you seek in the right place is perhaps the most important part of the journey.