Cheap Apartments for Rent in the Downtown Franklin Neighborhood of Franklin, TN from $900 (25 Rentals)

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

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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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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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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Royal Oaks Apartments
2 Bedroom Apartments

Royal Oaks Apartments

179 N Royal Oaks BlvdFranklin, TN 37067
  • 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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Downtown Franklin, Franklin, TN Local Guide

Cheapest Available Downtown Franklin Apartments for Rent

 

The cheapest available apartment rental in the Downtown Franklin area of Franklin, TN is a 1 Bed unit found at The Madison Franklin priced from $1,431. Wyndchase Aspen Grove has the second lowest priced unit, which is a 1 Bed apartment currently listed from $1,437. Here are the most affordable Downtown Franklin apartments for rent in Franklin, TN:

Apartment ListingModel NameBed/BathPriced From
The Madison FranklinThe Oxford1BR,1BA$1,431
Wyndchase Aspen GroveAspen Renovated1BR,1BA$1,437
Magnolia Place Apartments1 BD | 1 BA 668 sf1BR,1BA$1,470
South Wind Apartment HomesSodina1BR,1BA$1,471
The Whitney FranklinFieldstone1BR,1BA$1,495

Best Value Apartments for Rent in Downtown Franklin, TN

As of December 10, 2025 the best value apartment in the Downtown Franklin area is the $1.76 price per square foot 4A - Winstead Townhome with Attached Garage Model at Oakbrook Townhomes in the in the Garden Club Estates neighborhood starting from $3,819. The second greatest value Downtown Franklin apartment is the Colonial A Model at 780 Townhomes starting at $3,400 with a $1.81 price per square foot in the Garden Club Estates neighborhood. Here is today’s list of the best values for Downtown Franklin apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Oakbrook Townhomes4A - Winstead Townhome with Attached Garage4BR,3.5BA$1.76
780 TownhomesColonial A3BR,3.5BA$1.81
Sussex DownsHuntington2BR,2BA$1.47
Harpeth River OaksThe Cypress2BR,1BA$1.71
Heritage PlaceB2 - Renovated2BR,1.5BA$1.84
South Wind Apartment HomesSodina1BR,1BA$1.81
Grove at Shadow Green ApartmentsA2 Dogwood1BR,1BA$2.00
GreenhavenA11BR,1BA$2.12
Wyndchase Aspen GroveAspen Renovated1BR,1BA$2.03
The Madison FranklinThe Oxford1BR,1BA$2.11

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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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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Pet Friendly Lifestyle
Downtown Franklin, Franklin, TN

Ranked #2

Among cities in Tennessee for Apartment listings with Pet Friendly Amenities.

Pet Friendliness Lifestyle Score

3.5
Pet Friendly

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Getting Around the Downtown Franklin Neighborhood in Franklin, TN

Walk Score®

65 / 100

Somewhat Walkable

Some errands can be accomplished on foot

Bike Score®

50 / 100

Bikeable

Some bike infrastructure

Transit Score®

26 / 100

Some Transit

A few nearby public transportation options

What Are Walk Score®, Transit Score®, and Bike Score® Ratings?

  • Walk Score® measures the walkability of any address.
  • Transit Score® measures access to public transit.
  • Bike Score® measures the bikeability of any address.

Frequently Asked Questions about Cheap Downtown Franklin Apartments

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

The lowest price for a Cheap One Bedroom Downtown Franklin Apartment is $1,431 at The Madison Franklin.

What is the lowest price for a Cheap Two Bedroom Downtown Franklin Apartment for rent?

Today's best deal for a Cheap Two Bedroom Apartment in Downtown Franklin is starting from $1,542 at Sussex Downs.

What is the most affordable Downtown Franklin Three Bedroom Apartment?

The best deal on a cheap Downtown Franklin Three Bedroom Apartment rental is at Wyndchase Aspen Grove and starts from $1,973.

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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Renting with Roommates: Realistic Expectations for Shared Lease

Written by: Christine Leonard, Esq.

Given the high costs for housing, I have found that many people are looking for a roommate to share expenses. These arrangements can increase opportunities for more desirable and larger spaces.

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Apartment Common Area Rules: What Renters Need to Know

Written by: Christine Leonard, Esq.

Back in the day when I rented one of my first apartments, the property didn’t even have laundry in the building. Now, rental properties are often competing against each other to provide the best amenities.

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How to Negotiate Your Apartment Lease and Save Money

Written by: Christine Leonard, Esq.

Everything is a negotiation in real estate! 

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The Rental Move-In Inspection Checklist: A Guide for Renters

Written by: Trey Huguley

The move-in inspection checklist is a crucial tool for both tenants and landlords. This checklist, provided by the team at ApartmentHomeLiving.com, helps document the condition of an apartment at the time of move-in.