Cheap Apartments for Rent in the Franklin Neighborhood of Grand Rapids, MI from $400 (51 Rentals)

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

The Renter's Guide to Grand Rapids' Best Neighborhoods Near Major Employers

Working in Grand Rapids? Find the perfect neighborhood near your job. Our local guide covers the best places to rent near Steelcase, Corewell Health, GE Aerospace, and Honeywell.

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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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Atlantis House
4 Bedroom Apartments

Atlantis House

429-431 Washington StGrand Rapids, MI 49503
Corporate Housing
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Klingman Lofts
1 to 2 Bedroom Apartments

Klingman Lofts

400 Ionia Ave SWGrand Rapids, MI 49503
  • Utilities Included

Learn what Locals Love About Renting in Grand Rapids, Michigan

Discover why Grand Rapids, Michigan, is a premier place to live and work. Explore the Grand Rapids Local Expert's guide to top-rated schools, world-class healthcare, vibrant food scene, and endless recreational activities.

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600 Lafayette Ave SE
Studio to 1 Bedroom Apartments

600 Lafayette Ave SE

600 Lafayette Ave SEGrand Rapids, MI 49503
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Baker Lofts
1 to 2 Bedroom Apartments

Baker Lofts

40 Logan St SWGrand Rapids, MI 49503
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101 South Division Lofts
1 to 2 Bedroom Apartments

101 South Division Lofts

101 Division Ave SGrand Rapids, MI 49503
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Half Century Apartments
Studio to 2 Bedroom Apartments

Half Century Apartments

14-16 Jefferson Ave SEGrand Rapids, MI 49503
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Grand City Heights
Studio to 2 Bedroom Apartments

Grand City Heights

333 Commerce Ave SWGrand Rapids, MI 49503
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123 Division Ave S
1 to 2 Bedroom Apartments

123 Division Ave S

123 Division Ave SGrand Rapids, MI 49503
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43 Lafayette Ave
Studio to 1 Bedroom Apartments

43 Lafayette Ave

43 Lafayette AveGrand Rapids, MI 49503
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Iowa Flats
Studio to 3 Bedroom Apartments

Iowa Flats

119-125 Jefferson Ave SEGrand Rapids, MI 49503
  • Utilities Included

Check Out Grand Rapids’s Best Affordable Neighborhoods

Learn about Grand Rapids and the best places to live with original content written by our Local Expert Mike Heuer

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550 Paris
Studio to 2 Bedroom Apartments

550 Paris

550 Paris Ave SEGrand Rapids, MI 49503
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Sheldon Apartments
1 to 2 Bedroom Apartments

Sheldon Apartments

1010 Sheldon Ave SEGrand Rapids, MI 49507
Senior Living
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Southgate Senior Living
1 to 2 Bedroom Apartments

Southgate Senior Living

438 Division Ave SGrand Rapids, MI 49503
Senior Living
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Wealthy & Sheldon
Studio to 2 Bedroom Apartments

Wealthy & Sheldon

90 Wealthy St SEGrand Rapids, MI 49503

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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Showing Results 1-50, Page 1 of 2

Franklin, Grand Rapids, MI Local Guide

Cheapest Available Franklin Apartments for Rent

 

The cheapest available apartment rental in the Franklin area of Grand Rapids, MI is a Studio unit found at Grand Central Lofts priced from $950. 28 Jefferson Ave has the second lowest priced unit, which is a 1 Bed apartment currently listed from $950. Here are the most affordable Franklin apartments for rent in Grand Rapids, MI:

Apartment ListingModel NameBed/BathPriced From
Grand Central LoftsStudioStudio,1BA$950
28 Jefferson AveA1BR,1BA$950
One SouthStudioStudio,1BA$1,149
25 La Belle St SW2 Bedroom2BR,1BA$1,175
Highland Place ApartmentsSPACIOUS STUDIOStudio,1BA$1,230
The Globe Apartments2x1a2BR,1BA$1,250
Waters House ApartmentsStudioStudio,1BA$1,264
Wealthy & SheldonWealthy StudioStudio,1BA$1,299
The Gallery Apartments01 Style - StudioStudio,1BA$1,350

Best Value Apartments for Rent in Franklin, MI

As of July 23, 2026 the best value apartment in the Franklin area is the $1.13 price per square foot 228 Morris Ave SE Model at 228 Morris Ave SE, Unit Furnished Upstairs Apartment in the in the Center City neighborhood starting from $1,800. The second greatest value Franklin apartment is the 1256 Jefferson Ave SE Model at 1256 Jefferson Ave SE, Unit 1 starting at $1,400 with a $1.00 price per square foot in the Eastown 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.
228 Morris Ave SE, Unit Furnished Upstairs Apartment228 Morris Ave SE2BR,1BA$1.13
1256 Jefferson Ave SE, Unit 11256 Jefferson Ave SE2BR,1BA$1.00
239 Union Ave SE, Unit 1239 Union Ave SE1BR,1BA$1.19
256 Union Ave SE256 Union Ave SE2BR,1BA$2.08
320 Charles Ave SE, Unit 320 Charles Apt 2320 Charles Ave SE2BR,1BA$1.52
607 Fulton St EThree Bed3BR,1BA$1.68
834 Sherman St SE2 Bedroom/1 Bath2BR,1BA$1.38
The Globe Apartments1x1e1BR,1BA$2.07
533 Prospect Ave SE, Unit lower533 Prospect Ave SE1BR,1BA$1.92
Grand Central LoftsStudioStudio ,1BA$2.24

Top Neighborhoods to Rent Near Major Colleges and Universities in Grand Rapids, Michigan

Find your perfect student apartment near Aquinas College, Calvin University, Cornerstone University, and Grand Rapids Community College. Discover top neighborhoods for off-campus housing in Grand Rapids, MI.

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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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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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Pet Friendly Lifestyle
Franklin, Grand Rapids, MI

Ranked #38

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

Pet Friendliness Lifestyle Score

3.5
Pet Friendly

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Best Local Schools in
Franklin, Grand Rapids, MI

School data provided by Great Schools

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 Grand Central Lofts listed at $950.

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

The lowest price for a Cheap One Bedroom Franklin Apartment is $950 at 28 Jefferson 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 $1,175 at 25 La Belle St SW.

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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The Renter's Guide to Grand Rapids Best Neighborhoods Near Major Employers

Written by: Mike Heuer

My name is Mike, and I am your ApartmentHomeLiving.com guide for the greater Grand Rapids area.

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Learn what Locals Love About Renting in Grand Rapids, Michigan

Written by: Mike Heuer

The city of Grand Rapids has a growing population of about 203,000, while the greater metropolitan area, including the city, has about 1.2 million residents.

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Top Neighborhoods to Rent Near Major Colleges and Universities in Grand Rapids, Michigan

Written by: Mike Heuer

Aquinas College is a private Catholic school of higher education that focuses on liberal arts and was founded in 1886 by the Dominican Sisters of Grand Rapids.

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The Local Expert's Guide to the Best Affordable Neighborhoods in Grand Rapids, MI

Written by: Mike Heuer

I grew up near Grand Rapids and have visited the growing city and its surrounding area many times. It is a true jewel of southwestern Michigan and very close to Lake Michigan and many other great locales.

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.