Cheap Apartments for Rent in the South Franklin Avenue Neighborhood of Indianapolis, IN from $400 (34 Rentals)

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

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Indy 7925
Rent Specials
$1,063 - $1,785
Total Monthly Price

Total Monthly Price

Base Rent
$1,063 - $1,785
Total Monthly Price
Varies
1 to 3 Bedroom Apartments Available Now

Indy 7925

7925 Palawan DrIndianapolis, IN 46239
Corporate Housing
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SUITES OF IRVINGTON
Studio to 2 Bedroom Apartments

SUITES OF IRVINGTON

5730 E Washington StIndianapolis, IN 46219

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Saxony Court
1 to 2 Bedroom Apartments

Saxony Court

29-49 S Audubon RdIndianapolis, IN 46219
  • Utilities Included
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Abbey Meadows
2 Bedroom Apartments

Abbey Meadows

259 N Shortridge RdIndianapolis, IN 46219
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Braeburn Village
1 to 4 Bedroom Apartments

Braeburn Village

2170 Braeburn East DrIndianapolis, IN 46219

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School 85
1 to 2 Bedroom Apartments

School 85

338 S Arlington AveIndianapolis, IN 46219
Showing Results 1-34, Page 1 of 1

Cheapest Available South Franklin Avenue Apartments for Rent

 

The cheapest available apartment rental in the South Franklin Avenue area of Indianapolis, IN is a 1 Bed unit found at Serenity Manor 55+ Independent Active Living priced from $699. English Village Apartments has the second lowest priced unit, which is a 1 Bed apartment currently listed from $850. Here are the most affordable South Franklin Avenue apartments for rent in Indianapolis, IN:

Apartment ListingModel NameBed/BathPriced From
Serenity Manor 55+ Independent Active Living1 Bedroom/1 Bathroom1BR,1BA$699
English Village ApartmentsClassic One Bedroom Apartment Home1BR,1BA$850
Saxony Court1BD - New Floors1BR,1BA$869
StonehengeStudioStudio,1BA$874
Indy Town ApartmentsFrederick Square 2 bedroom2BR,1BA$900
The Vistas Apartment Homes2x1 Classic2BR,1BA$919
OlivewoodOne Bed One Bath1BR,1BA$955
60 - ADDISON APARTMENTSLeasing Specials2BR,1BA$959
Braeburn VillageB1 - 502BR,1BA$965
Parkhaven Apartments1.1 Rehab1BR,1BA$1,061

Best Value Apartments for Rent in South Franklin Avenue, IN

As of April 28, 2026 the best value apartment in the South Franklin Avenue area is the $1.08 price per square foot The Mansion - Three Bedroom Two Bath Model at Paragon Park in the in the Southeast Indianapolis neighborhood starting from $1,449. The second greatest value South Franklin Avenue apartment is the 7302 East Washington Street Model at 7302 East Washington Street, Unit A starting at $1,250 with a $1.04 price per square foot in the Southeast Indianapolis neighborhood. Here is today’s list of the best values for South Franklin Avenue apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Paragon ParkThe Mansion - Three Bedroom Two Bath3BR,2BA$1.08
7302 East Washington Street, Unit A7302 East Washington StreetStudio ,1.5BA$1.04
60 - ADDISON APARTMENTSLeasing Specials2BR,1BA$0.96
Indy Town ApartmentsFrederick Square 2 bedroom2BR,1BA$0.92
The Vistas Apartment Homes2x1,5 Townhome Classic2BR,1.5BA$1.10
Braeburn VillageB12BR,1BA$1.56
Wyndham Hall1 Bedroom1BR,1BA$1.40
English Village ApartmentsPremium Two Bedroom Apartment Home2BR,1BA$1.49
Serenity Manor 55+ Independent Active LivingStudioStudio ,1BA$1.19
Saxony Court1BD - New Floors1BR,1BA$1.50

Frequently Asked Questions about Cheap South Franklin Avenue Apartments

What is a cheap apartment in South Franklin Avenue?

A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in South Franklin Avenue is under $1,061.

What is the price of a cheap apartment in South Franklin Avenue?

The cheapest apartment in South Franklin Avenue is Serenity Manor 55+ Independent Active Living which is listed at $699, while the average apartment in South Franklin Avenue costs $1,775.

What types of apartments are the cheapest in South Franklin Avenue?

Student, low-income, and by-the-bed apartments are typically the cheapest rentals in most cities, though they require qualifying criteria to rent. There are 13 regular apartments in South Franklin Avenue that we think qualify as ‘cheap apartments’ that do not have special requirements to apply to rent.

How do the prices of cheap apartments compare to the average apartment in South Franklin Avenue?

Cheap apartments in South Franklin Avenue have an average cost of $222 which is $1,553 cheaper than the average rent for all rentals in South Franklin Avenue.

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.

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