Cheap Apartments for Rent in Franklin, MI from $800 (37 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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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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Imperial Apartments
Studio to 3 Bedroom Apartments

Imperial Apartments

27600 Franklin RdSouthfield, MI 48034
  • Utilities Included
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Parc on 12
1 to 2 Bedroom Apartments

Parc on 12

24710 W 12 Mile RdSouthfield, MI 48034

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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Pebble Creek
1 to 3 Bedroom Apartments

Pebble Creek

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

Wakefield Apartments

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

Twyckingham Valley

22277 W 12 Mile RdSouthfield, MI 48034
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Laurel Woods
2 Bedroom Apartments

Laurel Woods

22200 Laurel Woods CtSouthfield, MI 48034
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Colony Park Apartments
1 to 2 Bedroom Apartments

Colony Park Apartments

21890 Colony Park CirSouthfield, MI 48076
Senior Living

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

Explore the best residential neighborhoods and apartment options near major employers like GM, Ford, Stellantis, Rocket Companies, and Corewell Health. Find your perfect Motor City home.

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Showing Results 1-37, 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 $819. 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$819
The PinesStudioStudio,1BA$825
Pine AireStudioStudio,1BA$915
The FranklinStudio - AStudio,1BA$1,005
The Lakes2 Bed 1 Bath2BR,1BA$1,010
Woodcrest Apartments1 Bedroom / 1 Bath lower1BR,1BA$1,110
Franklin River Apartments1B1BR,1BA$1,175
The Addison at SouthfieldA11BR,1BA$1,219
Parc on 12Islander - New Yorker2BR,2BA$1,250

Best Value Apartments for Rent in Franklin, MI and Nearby

As of April 27, 2026 the best value apartment in the Franklin area is the $1.04 price per square foot 3 Bed 2 Bath Model at Glens of Bloomfield in the in the Northwestern Highway neighborhood starting from $2,085. The second greatest value Franklin apartment is the The Andover Model at Edge At Farmington Hills - Farmington Hills, MI starting at $2,025 with a $1.21 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.
Glens of Bloomfield3 Bed 2 Bath3BR,2BA$1.04
Edge At Farmington Hills - Farmington Hills, MIThe Andover2BR,2BA$1.21
Lancaster HillsLangley2BR,2BA$1.09
The Lakes3 Bed 1.5 Bath3BR,1.5BA$1.44
Colony Park ApartmentsThe Cheshire (2BR / 2BA)2BR,2BA$1.28
Carnegie Park ApartmentsC3 Renovated2BR,2BA$1.47
Uptown 11 Townhouses2 Bedroom 1.5 Bath2BR,1.5BA$1.42
Pebble Creek3 Bed 2 Bath3BR,2BA$1.23
Regal Towers2 Bedroom2BR,1BA$1.16
Woodcrest Apartments1 Bedroom / 1 Bath upper1BR,1BA$1.35

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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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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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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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 $819 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 $999 at Regal Towers.

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 $1,374.

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 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.

decorative image for The Detroit Insiders Renting Guide: A Locals Look Under the Hood of Motown article

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

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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.

decorative image for What Does “Rent Burdened” Mean? How Much Rent Is Too Much article

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.