565 S Webster Ave
IndianapolisIN46219
Cheap Homes for Rent in the South Franklin Avenue Neighborhood of Indianapolis, IN from $700 (6 Rentals)
Search the lowest-cost Homes available for rent right now in the South Franklin Avenue area of Indianapolis.
6119 Nimitz Dr
IndianapolisIN46219
close
View Me
$9752 Bedroom Apartments Available Now
1702 N Graham Ave, Unit 1702
1702 N Graham AveIndianapolis, IN 46218
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.
6808 East 21st St
IndianapolisIN46219
2245 Admiral Dr
IndianapolisIN46219
50 N Campbell Ave
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.
Showing Results 1-6, Page 1 of 1
South Franklin Avenue, Indianapolis, IN Local Guide
How much does it cost to rent a home in South Franklin Avenue?
| Bedroom | Average Rent | Cheapest Rent | Highest Rent |
|---|---|---|---|
| South Franklin Avenue 2 Bedroom Homes for Rent | $1,301 | $1,095 | $1,550 |
| South Franklin Avenue 3 Bedroom Homes for Rent | $1,674 | $850 | $2,030 |
| South Franklin Avenue 4 Bedroom Homes for Rent | $1,646 | $1,400 | $1,930 |
Browse Homes for Rent in this Neighborhood
There are currently 6 rentals with your search options within a 2 mile radius of the South Franklin Avenue Neighborhood of Indianapolis, IN.
Explore Indianapolis
Let everyone know!
Do you know the South Franklin Avenue area?
If you’re an expert on all things South Franklin Avenue, tell us what you love (and don't) by rating it and writing a review.
Write a Review
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 D&T Nest priced from $570. Serenity Manor 55+ Independent Active Living has the second lowest priced unit, which is a Studio apartment currently listed from $659. Here are the most affordable South Franklin Avenue apartments for rent in Indianapolis, IN:
| Apartment Listing | Model Name | Bed/Bath | Priced From |
|---|---|---|---|
| D&T Nest | 0 Bedroom 1 Bath - 62141 | Studio,1BA | $570 |
| Serenity Manor 55+ Independent Active Living | Studio | Studio,1BA | $659 |
| Arlington Green (Indy Town) | Arlington Green 1 bedroom | 1BR,1BA | $723 |
Best Value Apartments for Rent in South Franklin Avenue, IN
As of July 12, 2026 the best value apartment in the South Franklin Avenue area is the $1.04 price per square foot The Mansion - Three Bedroom Two Bath Model at Paragon Park in the in the Southeast Indianapolis neighborhood starting from $1,399. The second greatest value South Franklin Avenue apartment is the F 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 | The Mansion - Three Bedroom Two Bath | 3BR,2BA | $1.04 |
| 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 | 2x1.5 Townhome Renovated | 2BR,1.5BA | $1.37 |
| Eastgate Terrace Apartments | 2 Bed Elegance | 2BR,1BA | $1.37 |
| Wyndham Hall | 1 Bedroom | 1BR,1BA | $1.40 |
| English Village Apartments | Premium Two Bedroom Apartment Home | 2BR,1BA | $1.49 |
| Arlington Green (Indy Town) | Arlington Green 2 bedroom | 2BR,1BA | $1.24 |
| Serenity Manor 55+ Independent Active Living | Studio | Studio ,1BA | $1.10 |
Frequently Asked Questions about South Franklin Avenue
What type of rentals are currently available in South Franklin Avenue?
There are currently 54 Apartments for Rent in South Franklin Avenue, IN with pricing that ranges from $570 to $1,855. There are also 29 Single Family Homes for rent, Condos, and Townhome rentals currently available in South Franklin Avenue ranging from $799 to $2,030.
What is the current price range for Rental Homes in South Franklin Avenue?
Today's rental pricing for Homes for Rent, Condos and Townhomes in South Franklin Avenue ranges from $799 to $2,030 with an average monthly rent of $1,294.
How much are larger Three and Four Bedroom Rentals in South Franklin Avenue?
For those who are looking for larger living arrangements, Three Bedroom Apartments in South Franklin Avenue range from $1,250 to $1,855, while Three Bedroom Homes, Condos, and Townhomes for rent range from $850 to $2,030. Four Bedroom Single-Family rentals are also available starting from $1,400 and Four Bedroom Apartments start at $1,705.
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
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.
Your Guide to Picking the Perfect Indianapolis Neighborhood for Student Renters
Written by: Wendy Melton
Indianapolis is well-known for being one of the top college cities in the country. Local colleges and universities are ranked in the Top 10 when it comes to sports and academic excellence.
Find Your Indy Home: A Guide to Indianapolis Apartment Rentals and Neighborhoods
Written by: Wendy Melton
My name is Wendy, and I've lived in Indiana for most of my life. Indianapolis is our state capital, and many people consider it the heart of the Midwest. People come from all around to explore everything Indianapolis has to offer.
Indys Innovation Hub: Top Indianapolis Employers and the Neighborhoods that Welcome You Home
Written by: Wendy Melton
Indianapolis is truly the heart of the Midwest. No matter what career path you choose, opportunities for advancement are everywhere.
Articles, How-To's, and Tips
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.
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.
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.
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.