Cheap Apartments for Rent in the Franklin Neighborhood of Grand Rapids, MI from $400 (65 Rentals)

How Many Bedrooms?Done
Select your price rangeDone
to
Note: Properties with the Total Monthly Price badge include all required fees. Hover over the badge for details.
Lifestyle Matching SearchDone
Learn more about Lifestyle Search
By AmenitiesDone
By Community TypeDone
Features and AvailabilityDone
Done

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

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.

Read Article

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.

Read Article

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.

Read Article
close
View Me
Atlantis House
4 Bedroom Apartments

Atlantis House

429-431 Washington StGrand Rapids, MI 49503
Corporate Housing
close
View Me
600 Lafayette Ave SE
Studio to 1 Bedroom Apartments

600 Lafayette Ave SE

600 Lafayette Ave SEGrand Rapids, MI 49503
close
View Me
101 South Division Lofts
1 to 2 Bedroom Apartments

101 South Division Lofts

101 Division Ave SGrand Rapids, MI 49503
  • 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.

Read Article
close
View Me
Half Century Apartments
Studio to 2 Bedroom Apartments

Half Century Apartments

14-16 Jefferson Ave SEGrand Rapids, MI 49503
  • Utilities Included
close
View Me
Grand City Heights
Studio to 2 Bedroom Apartments

Grand City Heights

333 Commerce Ave SWGrand Rapids, MI 49503
  • Utilities Included
close
View Me
123 Division Ave S
1 to 2 Bedroom Apartments

123 Division Ave S

123 Division Ave SGrand Rapids, MI 49503
  • Smoke Free
close
View Me
43 Lafayette Ave
Studio to 1 Bedroom Apartments

43 Lafayette Ave

43 Lafayette AveGrand Rapids, MI 49503
  • Utilities Included
close
View Me
Iowa Flats
Studio to 3 Bedroom Apartments

Iowa Flats

119-125 Jefferson Ave SEGrand Rapids, MI 49503
  • Utilities Included
close
View Me
550 Paris
Studio to 2 Bedroom Apartments

550 Paris

550 Paris Ave SEGrand Rapids, MI 49503
close
View Me
One South
Studio to 2 Bedroom Apartments

One South

41 Division Ave SGrand Rapids, MI 49503
  • Utilities Included
close
View Me
Sheldon Apartments
1 to 2 Bedroom Apartments

Sheldon Apartments

1010 Sheldon Ave SEGrand Rapids, MI 49507
Senior Living
  • 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

Read Article
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 1 Bed unit found at Kabo Flats at Boston Square priced from $440. 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
Kabo Flats at Boston SquareIncome Restricted 1 Bedroom1BR,1BA$440
28 Jefferson AveA1BR,1BA$950
Grand Central LoftsOne Bedroom1BR,1BA$1,150
25 La Belle St SW2 Bedroom2BR,1BA$1,175
549 Logan St SEOne Bed1BR,1BA$1,200
The Globe Apartments2x1a2BR,1BA$1,250
Wealthy & SheldonWealthy StudioStudio,1BA$1,300
Heritage Place ApartmentsStudioStudio,1BA$1,303
834 Sherman St SE2 Bedroom/1 Bath2BR,1BA$1,450

Best Value Apartments for Rent in Franklin, MI

As of June 08, 2026 the best value apartment in the Franklin area is the $1.90 price per square foot 240 Union Ave SE Model at 240 Union Ave SE, Unit 2nd Floor in the in the Center City neighborhood starting from $2,275. The second greatest value Franklin apartment is the 2 Bedroom/1 Bath Model at 834 Sherman St SE starting at $1,450 with a $1.45 price per square foot in the Belknap Lookout 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.
240 Union Ave SE, Unit 2nd Floor240 Union Ave SE3BR,1BA$1.90
834 Sherman St SE2 Bedroom/1 Bath2BR,1BA$1.45
320 Prospect Ave SE, Unit 320 Prospect Ave320 Prospect Ave SE2BR,1BA$1.47
Eastown FlatsHillcrest2BR,1BA$2.15
The Lofts Apartments2 Bedroom-1 Bath2BR,1BA$1.76
The Globe Apartments1x1e1BR,1BA$2.07
1 Oakes St SW1/11BR,1BA$2.38
549 Logan St SEOne Bed1BR,1BA$2.00
Heritage Place ApartmentsStudioStudio ,1BA$3.02
Grand Central LoftsOne Bedroom1BR,1BA$3.01

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.

Read Article
Decorative image

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.

Read Article
Decorative image

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.

Read Article
Decorative image

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.

decorative image of people with a giant lease agreement

Pet Friendly Lifestyle
Franklin, Grand Rapids, MI

Ranked #31

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

Pet Friendliness Lifestyle Score

3.0
Pet Friendly

decorative image of woman handing cat to small boy

Best Local Schools in
Franklin, Grand Rapids, MI

School data provided by Great Schools

Frequently Asked Questions about Cheap Franklin Apartments

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

The lowest price for a Cheap One Bedroom Franklin Apartment is $440 at Kabo Flats at Boston Square.

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 $500 at Kabo Flats at Boston Square.

What is the most affordable Franklin Three Bedroom Apartment?

The best deal on a cheap Franklin Three Bedroom Apartment rental is at Kabo Flats at Boston Square and starts from $555.

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

decorative image for The Local Experts Guide to the Best Affordable Neighborhoods in Grand Rapids, MI article

The Local Experts 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.

decorative image for Pet-Friendly Renting: Everything You Need to Know Before You Move article

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.

decorative image for Creative Ways Developers Reimagine Retail Spaces as Residential Units article

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.

decorative image for Neighborhood and Market Insights: How to Choose the Right Area to Rent article

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.