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The Aerie on 11th Street
6240 E 11th StIndianapolis, IN 46219
Cheap Apartments for Rent in the South Franklin Avenue Neighborhood of Indianapolis, IN from $500 (24 Rentals)
Search the lowest-cost Apartments available for rent right now in the South Franklin Avenue area of Indianapolis.
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from $7581 to 2 Bedroom Apartments Available Now
Indy Town Apartments
6046 E 21st StIndianapolis, IN 46219
7051 E 11th St
IndianapolisIN46219
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from $790Studio to 2 Bedroom Apartments Available Now
Serenity Manor 55+ Independent Senior Living
1123 N Edmondson AveIndianapolis, IN 46219
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from $824Studio to 2 Bedroom Apartments Available Now
Stonehenge
7980 Dunston DrIndianapolis, IN 46239
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from $825Studio to 2 Bedroom Apartments Available Now
Olivewood
2091 Olivewood DrIndianapolis, IN 46219
7032 E 10th St
IndianapolisIN46219
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.
6209 E 12th St
IndianapolisIN46219
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6052 E Washington St
IndianapolisIN46219
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2 Bedroom Apartments
The Jeffersonian Apartments Of Indianapolis
801 N Shortridge RdIndianapolis, IN 46219
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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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6264 Eastridge Dr
IndianapolisIN46219
6262 Eastridge Dr
IndianapolisIN46219
Smart Renter's Guide: Calculating Affordable Rent & Housing Costs
Wondering how to determine your rental budget? This comprehensive guide covers everything from the 30% rule to hidden fees and effective budgeting strategies.
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5951 Rawles Ave
IndianapolisIN46219
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 | $910 | $790 | $1,250 |
| South Franklin Avenue 1 Bedroom Apartments | $970 | $325 | $1,396 |
| South Franklin Avenue 2 Bedroom Apartments | $1,266 | $700 | $2,235 |
| South Franklin Avenue 3 Bedroom Apartments | $1,734 | $1,325 | $2,315 |
| South Franklin Avenue 4 Bedroom Apartments | $2,045 | $1,845 | $2,245 |
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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South Franklin Avenue, Indianapolis, IN Local Guide
- Nearby Indianapolis neighborhoods
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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 2 Beds unit found at The Aerie on 11th Street priced from $700. Stonehenge has the second lowest priced unit, which is a Studio apartment currently listed from $824. Here are the most affordable South Franklin Avenue apartments for rent in Indianapolis, IN:
| Apartment Listing | Model Name | Bed/Bath | Priced From |
|---|---|---|---|
| The Aerie on 11th Street | 6260 East 11th Street - Apt 302 | 2BR,1BA | $700 |
| Stonehenge | Studio | Studio,1BA | $824 |
| Olivewood | Studio | Studio,1BA | $825 |
| Indy Town Apartments | Arlington Green 2 bedroom | 2BR,1BA | $834 |
| 50 - SAXONY COURT APARTMENTS | Saxony 2 Bd Standard | 2BR,1BA | $875 |
Best Value Apartments for Rent in South Franklin Avenue, IN
As of June 25, 2025 the best value apartment in the South Franklin Avenue area is the $1.15 price per square foot Three Bedroom Two Bath Model at Paragon Park in the in the Southeast Indianapolis neighborhood starting from $1,539. The second greatest value South Franklin Avenue apartment is the Beautiful Renovated Historic Apartment - 2 bedr... Model at School 85 starting at $1,610 with a $1.24 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. |
|---|---|---|---|
| Paragon Park | Three Bedroom Two Bath | 3BR,2BA | $1.15 |
| School 85 | Beautiful Renovated Historic Apartment - 2 bedr... | 2BR,2BA | $1.24 |
| 7302 East Washington Street, Unit A | 7302 East Washington Street | Studio ,1.5BA | $1.04 |
| 60 - ADDISON APARTMENTS | 2nd/3rd Floor Standard | 2BR,1BA | $0.95 |
| Vistas Apartments | 2 Bedroom 1.5 Bath Townhouse | 2BR,1.5BA | $1.09 |
| The Aerie on 11th Street | 6260 East 11th Street - Apt 302 | 2BR,1BA | $0.82 |
| Braeburn Village | 2X1-50 | 2BR,1BA | $1.19 |
| Serenity Manor 55+ Independent Senior Living | 2 Bedroom/2 Bath | 2BR,2BA | $1.49 |
| 50 - SAXONY COURT APARTMENTS | Saxony 2 Bd Standard | 2BR,1BA | $1.18 |
| Indy Town Apartments | Arlington Green 2 bedroom | 2BR,1BA | $1.22 |
Quick Rent Budget Calculator
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Pet Friendly LifestyleSouth Franklin Avenue, Indianapolis, IN
Ranked #224
Among neighborhoods in Indianapolis, IN for Apartment listings with Pet Friendly Amenities
Pet Friendliness Lifestyle Score
3.0Pet Friendly
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 $965.
What is the price of a cheap apartment in South Franklin Avenue?
The cheapest apartment in South Franklin Avenue is Parkhaven Apartments which is listed at $949, while the average apartment in South Franklin Avenue costs $2,045.
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 12 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 $429 which is $1,616 cheaper than the average rent for all rentals in South Franklin Avenue.
Expert Rental Resources
Helpful Apartment Articles, How-To's and Tips
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.
A Local Expert’s Guide To 10 Budget-Friendly Neighborhoods to Rent in Indianapolis
Written by: Wendy Melton
Indianapolis is not only the state capital of Indiana, it’s also a shining example of what Midwestern living is all about. I’m Wendy, your ApartmentHomeLiving.
Roommate Matching: Finding the Right Fit and Avoiding Pitfalls
Written by: Cheryl Bowman
A fantastic way to save money and enjoy a built-in community is to share an apartment. However, a bad roommate situation can turn your dream rental into a nightmare.
The Art of the Rental Viewing: What to look for during a property tour
Written by: Marie Brown
You’ve scrolled through countless listings, walked through a blur of rentals, and finally found what feels like the one. The pictures? Fantastic. The neighborhood seems just right.
Know Your Budget: Calculating What You Can Realistically Afford When Renting
Written by: Lauren Harrington
Renting an apartment or house isn’t just about looking through online ads, choosing a few apartments or homes you want to tour, filling out an application, and putting down a deposit. Those things are all necessary and important.