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$575 - $625Studio Apartments Available Jun 20
D&T Nest
5824 E Washington StIndianapolis, IN 46219
Cheap Apartments for Rent in the South Franklin Avenue Neighborhood of Indianapolis, IN from $400 (24 Rentals)
Search the lowest-cost Apartments available for rent right now in the South Franklin Avenue area of Indianapolis.
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Rent Specials
$660 - $1,150Studio to 2 Bedroom Apartments Available Now
Serenity Manor 55+ Independent Active Living
1123 N Edmondson AveIndianapolis, IN 46219
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$717 - $2,7211 to 2 Bedroom Apartments Available Now
Arlington Green (Indy Town)
6046 E 21st StIndianapolis, IN 46219
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$750 - $1,040Studio to 2 Bedroom Apartments Available Now
Olivewood
2091 Olivewood DrIndianapolis, IN 46219
9126 E 10th St
IndianapolisIN46229
9130 E 10th St
IndianapolisIN46229
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$850 - $1,1501 to 2 Bedroom Apartments Available Now
English Village Apartments
545 English Village DrIndianapolis, IN 46239
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$859 - $1,119Studio to 2 Bedroom Apartments Available Now
Stonehenge
7980 Dunston DrIndianapolis, IN 46239
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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$899 - $1,1691 to 2 Bedroom Apartments Available Now
Parkhaven Apartment Homes
7936 Timber Ridge DrIndianapolis, IN 46219
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$929 - $1,2192 Bedroom Apartments Available Now
The Vistas Apartment Homes
1366 N Arlington AveIndianapolis, IN 46219
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Studio to 2 Bedroom Apartments
SUITES OF IRVINGTON
5730 E Washington StIndianapolis, IN 46219
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1 to 2 Bedroom Apartments
Arlington Terrace Apartments
5931 E 12th StIndianapolis, IN 46219
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Studio to 4 Bedroom Apartments
Historic Audubon Court
5703 E Washington StIndianapolis, IN 46219
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1 to 2 Bedroom Apartments
The Jeffersonian Apartments Of Indianapolis
801 N Shortridge RdIndianapolis, IN 46219
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1 to 2 Bedroom Apartments
Reserves at Warren Park
9136 E 10th StIndianapolis, IN 46229
2238 Admiral Dr
IndianapolisIN46219
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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1 to 2 Bedroom Apartments
Saxony Court
29-49 S Audubon RdIndianapolis, IN 46219
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1 Bedroom Apartments
Clark House Apartments
115-S S Audubon RdIndianapolis, IN 46219
6119 Nimitz Dr
IndianapolisIN46219
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1 to 4 Bedroom Apartments
Braeburn Village
2170 Braeburn East DrIndianapolis, IN 46219
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2 Bedroom Apartments
Abbey Meadows
259 N Shortridge RdIndianapolis, IN 46219
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2 Bedroom Apartments
60 - ADDISON APARTMENTS
7155 E 21st StIndianapolis, IN 46219
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2 to 3 Bedroom Apartments
Charleston East Apartments
6938 E 10th StIndianapolis, IN 46219
6808 East 21st St
IndianapolisIN46219
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.
Showing Results 1-24, Page 1 of 1
South Franklin Avenue, Indianapolis, IN Local Guide
How much does it cost to rent an apartment in South Franklin Avenue?
| Bedroom | Average Rent | Cheapest Rent | Highest Rent |
|---|---|---|---|
| South Franklin Avenue Studio Apartments | $843 | $595 | $1,250 |
| South Franklin Avenue 1 Bedroom Apartments | $1,013 | $717 | $1,423 |
| South Franklin Avenue 2 Bedroom Apartments | $1,109 | $825 | $1,659 |
| South Franklin Avenue 3 Bedroom Apartments | $1,783 | $1,295 | $1,905 |
| South Franklin Avenue 4 Bedroom Apartments | $1,775 | $1,775 | $1,775 |
Browse Apartments in this Neighborhood
There are currently 24 rentals with your search options within a 2 mile radius of the South Franklin Avenue Neighborhood of Indianapolis, IN.
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Cheapest Available South Franklin Avenue Apartments for Rent
The cheapest available apartment rental in the South Franklin Avenue area of Indianapolis, IN is a Studio unit found at Serenity Manor 55+ Independent Active Living priced from $660. Olivewood has the second lowest priced unit, which is a Studio apartment currently listed from $750. Here are the most affordable South Franklin Avenue apartments for rent in Indianapolis, IN:
| Apartment Listing | Model Name | Bed/Bath | Priced From |
|---|---|---|---|
| Serenity Manor 55+ Independent Active Living | Studio | Studio,1BA | $660 |
| Olivewood | Studio | Studio,1BA | $750 |
| Arlington Green (Indy Town) | Arlington Green 2 bedroom | 2BR,1BA | $841 |
| English Village Apartments | Classic One Bedroom Apartment Home | 1BR,1BA | $850 |
| Stonehenge | Studio | Studio,1BA | $859 |
Best Value Apartments for Rent in South Franklin Avenue, IN
As of June 17, 2026 the best value apartment in the South Franklin Avenue area is the $1.24 price per square foot F Model at School 85 in the in the Southeast Indianapolis neighborhood starting from $1,610. 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 Listing | Model Name | Bed/Bath | Price Per Sq.Ft. |
|---|---|---|---|
| School 85 | F | 2BR,2BA | $1.24 |
| 7302 East Washington Street, Unit A | 7302 East Washington Street | Studio ,1.5BA | $1.04 |
| 60 - ADDISON APARTMENTS | Addison Apts - Gorgeous 2 Bed/1 Bath Apt | 2BR,1BA | $0.96 |
| The Vistas Apartment Homes | 2x1 Renovated | 2BR,1BA | $1.34 |
| Eastgate Terrace Apartments | 2 Bed Elegance | 2BR,1BA | $1.37 |
| Wyndham Hall | 1 Bedroom | 1BR,1BA | $1.40 |
| Saxony Court | Saxony 2 Bd Remodel | 2BR,1BA | $1.30 |
| Arlington Green (Indy Town) | Arlington Green 2 bedroom | 2BR,1BA | $1.23 |
| Parkhaven Apartment Homes | Waitlist - 1 Bedroom 1 Bath Apartment | 1BR,1BA | $1.44 |
| Serenity Manor 55+ Independent Active Living | Studio | Studio ,1BA | $1.10 |
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 $1,081.
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 $755, while the average apartment in South Franklin Avenue costs $1,880.
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 3 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 $170 which is $1,710 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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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.