Cheap Apartments for Rent near Franklin, MN from $300 (88 Rentals)

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

Rent According to Income: A Look at Income-Restricted Rentals

Find income-restricted rentals and housing subsidies. Explore government programs designed to help low-income families secure stable, affordable housing.

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Red Skye Lofts
$860 - $2,660
Total Monthly Price

Total Monthly Price

Base Rent
$800 - $2,600
Required Monthly Fees
$60
Total Monthly Price
$860 - $2,660
1 to 3 Bedroom Apartments Available Now

Red Skye Lofts

100 Fallwood RdRedwood Falls, MN 56283
Furnished
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  • Utilities Included
  • Smoke Free
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Somerset Properties
Rent Specials
$940 - $1,417
Total Monthly Price12 Month Lease Term

Total Monthly Price

Base Rent
$940 - $1,417
Total Monthly Price
$940 - $1,417
2 to 3 Bedroom Apartments Available Now

Somerset Properties

1401-1405 19th Ave SEWillmar, MN 56201
  • Verified
  • Utilities Included
  • Low Income

Renters Insurance 101: What It Is, What It Covers, and Why You Need It

From theft to fire to water damage, the unexpected can happen to any renter. Discover why renters insurance is one of the smartest and most affordable investments you can make as a tenant.

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Edgeview Apartments
Rent Specials
$955 - $1,755
Total Monthly Price

Total Monthly Price

Base Rent
$895 - $1,695
Required Monthly Fees
$60
Total Monthly Price
$955 - $1,755
Studio to 3 Bedroom Apartments Available Now

Edgeview Apartments

1001-1031 30th St NWWillmar, MN 56201
Student Housing
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  • Customer Reviewed
  • Utilities Included
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Regency Apartments
$1,000 - $1,250
Total Monthly Price12 Month Lease Term

Total Monthly Price

Base Rent
$1,000 - $1,250
Total Monthly Price
$1,000 - $1,250
1 to 2 Bedroom Apartments Contact Us For Availability

Regency Apartments

235 Echo CirHutchinson, MN 55350
Student Housing
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The Preserve on 24th
Rent Specials
$1,065 - $1,445
Total Monthly Price

Total Monthly Price

Base Rent
$1,065 - $1,445
Total Monthly Price
$1,065 - $1,445
Studio to 2 Bedroom Apartments Available Now

The Preserve on 24th

401 24th AveWillmar, MN 56201
Student Housing
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  • Customer Reviewed
  • Utilities Included

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

Finding the right apartment starts with three things: location, cost, and amenities. Get the insider perspective from a real estate professional on how to nail all three.

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Block 100
$1,095 - $1,595
Total Monthly Price12 Month Lease Term

Total Monthly Price

Base Rent
$1,000 - $1,500
Required Monthly Fees
$95
Total Monthly Price
$1,095 - $1,595
1 to 2 Bedroom Apartments Available Now

Block 100

103 W Lyon StMarshall, MN 56258
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  • Customer Reviewed
  • Utilities Included
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Block 25 Lofts
$1,145 - $1,185
Total Monthly Price

Total Monthly Price

Base Rent
$1,130 - $1,170
Required Monthly Fees
$15
Total Monthly Price
$1,145 - $1,185
1 Bedroom Apartments Available Sep 4

Block 25 Lofts

103 3rd St SWWillmar, MN 56201
Student Living
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RoK Lofts
$1,175 - $1,525
Total Monthly Price12 Month Lease Term

Total Monthly Price

Base Rent
$1,125 - $1,475
Required Monthly Fees
$50
Total Monthly Price
$1,175 - $1,525
1 to 2 Bedroom Apartments Available Now

RoK Lofts

410 S Minnesota AveSt. Peter, MN 56082
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  • Customer Reviewed
  • Utilities Included
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Ward Rentals in Hutchinson
$1,214 - $1,759
Total Monthly Price12 Month Lease Term

Total Monthly Price

Base Rent
$1,150 - $1,695
Required Monthly Fees
$64
Total Monthly Price
$1,214 - $1,759
1 to 3 Bedroom Apartments Available Now

Ward Rentals in Hutchinson

705 Century Ave SWHutchinson, MN 55350
Corporate Housing
  • Verified
  • Utilities Included
  • 3D Tour

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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Sunrise Manor
2 to 3 Bedroom Apartments

Sunrise Manor

500 Remmele St SWSleepy Eye, MN 56085
  • Utilities Included
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Fairview Apartments
1 to 2 Bedroom Apartments

Fairview Apartments

11 Park St NFairfax, MN 55332
Senior Living
  • Utilities Included
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330 4th St SW
Studio to 1 Bedroom Apartments

330 4th St SW

330 4th St SWWillmar, MN 56201
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River Ridge Apartments
1 to 2 Bedroom Apartments

River Ridge Apartments

201 S Minnesota StRedwood Falls, MN 56283
  • Utilities Included
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Southview Apartments
1 to 2 Bedroom Apartments

Southview Apartments

200 10th Ave SEFairfax, MN 55332
  • Utilities Included
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Grove Heights Townhomes
1 to 2 Bedroom Apartments

Grove Heights Townhomes

500-614 Maple LnGrove City, MN 56243
  • Utilities Included
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Lake Place II
1 to 2 Bedroom Apartments

Lake Place II

1421 Lake Ave NWWillmar, MN 56201
  • Utilities Included

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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Franklin, MN Local Guide

Cheapest Available Franklin Apartments for Rent and Nearby

 

The cheapest available apartment rental in Franklin, MN is a 1 Bed unit found at 512 Vernon Ave priced from $595. Suite Liv'N - Willmar has the second lowest priced unit, which is a Studio apartment currently listed from $745. Here is today’s list of the most affordable Franklin apartments for rent:

Apartment ListingModel NameBed/BathPriced From
512 Vernon AveOne Bedroom1BR,1BA$595
Suite Liv'N - WillmarStudio 1 BathStudio,1BA$745
Bethel On BryantRenville - 1/11BR,1BA$745
1212 Heckman CtStudioStudio,1BA$750
Suite Liv'n - MarshallOne Bedroom1BR,1BA$775
Cardinal Manor ApartmentsOne Bedroom - Handicap Accessible1BR,1BA$775
Downtown Estates1 Bed, 1 bath1BR,1BA$795
Midway Apartments1 Bed, 1 bath1BR,1BA$825
Hartshorn Manor1 Bed, 1 bath1BR,1BA$840
131 W 11th St1 Bedroom 1 Bath1BR,1BA$850

Best Value Apartments for Rent in Franklin, MN and Nearby

As of July 24, 2026 the best value apartment in the Franklin area is the $1.10 price per square foot Three Bedroom - Somerset Model at Somerset Properties in the starting from $1,350. The second greatest value Franklin apartment is the 2BR/1.5 Bath Model at Valleyside Townhomes starting at $1,095 with a $0.96 price per square foot . 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.
Somerset PropertiesThree Bedroom - Somerset3BR,2BA$1.10
Valleyside Townhomes2BR/1.5 Bath2BR,1.5BA$0.96
Windom Landing2 Bedroom - Lower Level ADA2BR,2BA$0.89
251 6th St2 Bedroom 1 Bath2BR,1BA$1.16
1212 Heckman CtStudioStudio ,1BA$0.83
907 Dale St Apartments2 Bedroom2BR,1.5BA$1.06
512 Vernon AveTwo Bedroom2BR,1BA$0.87
Downtown Estates1 Bed, 1 bath1BR,1BA$0.99
Bethel On BryantRenville - 1/11BR,1BA$0.96
Hartshorn Manor1 Bed, 1 bath1BR,1BA$1.12

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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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, MN Rentals by Map

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See the most popular apartments and homes in Franklin, MN

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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 Suite Liv'N - Willmar listed at $745.

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

The lowest price for a Cheap One Bedroom Franklin Apartment is $595 at 512 Vernon Ave.

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 $695 at 512 Vernon Ave.

What is the most affordable Franklin Three Bedroom Apartment?

The best deal on a cheap Franklin Three Bedroom Apartment rental is at Town's Edge Estates and starts from $1,145.

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.

Articles, How-To's, and Tips

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Rent According to Income: A Look at Income-Restricted Rentals

Written by: Robin Stewart

The idea of affordable housing can be subjective. Every individual is in a different place financially and vocationally. What one may easily afford could be a struggle for someone else.

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Renters Insurance 101: What It Is, What It Covers, and Why You Need It

Written by: Robin Stewart

Insurance seems to be a part of life. In some states, having insurance is the law, as is the case for automobile insurance. Renters are no exception.

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Apartment Occupancy Rates: Renter Attraction vs Renter Retention

Written by: Robin Stewart

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.

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.