Cheap Apartments for Rent in Franklin, MN from $300 (73 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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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
  • Verified
  • Utilities Included
  • Smoke Free
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Somerset Properties
Rent Specials
$902 - $1,417
Total Monthly Price12 Month Lease Term

Total Monthly Price

Base Rent
$902 - $1,417
Total Monthly Price
$902 - $1,417
2 to 3 Bedroom Apartments Available Now

Somerset Properties

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

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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Valleyside Townhomes
$1,055 - $1,255
Total Monthly Price

Total Monthly Price

Base Rent
$1,055 - $1,255
Total Monthly Price
$1,055 - $1,255
2 to 3 Bedroom Apartments Available Jul 3

Valleyside Townhomes

3149 7th Ave NWWillmar, MN 56201
Family Friendly
  • Verified
  • Customer Reviewed
  • Utilities Included
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The Preserve on 24th
Rent Specials
$1,065 - $1,475
Total Monthly Price

Total Monthly Price

Base Rent
$1,065 - $1,475
Total Monthly Price
$1,065 - $1,475
Studio to 2 Bedroom Apartments Available Now

The Preserve on 24th

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

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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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
  • Verified
  • Customer Reviewed
  • Utilities Included
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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

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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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
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Bethel On Bryant
1 to 2 Bedroom Apartments

Bethel On Bryant

419-427 Bryant Ave NWRenville, MN 56284
  • Utilities Included
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Autumn Glen Apartments
1 to 2 Bedroom Apartments

Autumn Glen Apartments

822 W Main St WArlington, MN 55307
Senior Living
  • Utilities Included
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Autumn Glen Townhomes
1 to 2 Bedroom Apartments

Autumn Glen Townhomes

502-510 W 8th StWinthrop, MN 55396
  • Utilities Included

The Art of the Rental Viewing: What to look for during a property tour

Touring a rental? This guide helps you know exactly what to look for, from safety features to hidden flaws, so you can confidently sign your lease or keep searching.

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Showing Results 1-50, Page 1 of 2

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. Bethel On Bryant has the second lowest priced unit, which is a 1 Bed 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
Bethel On BryantRenville - 1/11BR,1BA$745
Suite Liv'N - WillmarStudio 1 BathStudio,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
Parkview Apartments1 Bed, 1 bath1BR,1BA$795
Hartshorn Manor1 Bed, 1 bath1BR,1BA$840
Red Skye Lofts1 Bedroom1BR,1BA$860

Best Value Apartments for Rent in Franklin, MN and Nearby

As of June 08, 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 2 Bedroom - Upper Level Model at Windom Landing starting at $975 with a $0.84 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
Windom Landing2 Bedroom - Upper Level2BR,2BA$0.84
Parkview Apartments2 Beds, 1 bath2BR,1BA$0.80
1212 Heckman CtStudioStudio ,1BA$0.83
907 Dale St Apartments2 Bedroom2BR,1.5BA$1.06
Red Skye Lofts2 Bedroom2BR,1BA$1.12
Downtown Estates1 Bed, 1 bath1BR,1BA$0.99
512 Vernon AveTwo Bedroom2BR,1BA$0.87
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

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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, 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 Suite Liv'N - Willmar and starts from $1,150.

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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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.

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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.