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$949 - $1,6141 to 2 Bedroom Apartments Available Now
Keeneland Crest Apartments
8401 Boggs Creek DrIndianapolis, IN 46237
Cheap Apartments for Rent in the South Franklin Neighborhood of Indianapolis, IN from $700 (30 Rentals)
Search the lowest-cost Apartments available for rent right now in the South Franklin area of Indianapolis.
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$956 - $1,3801 to 2 Bedroom Apartments Available Now
Emerson Village
5140 Emerson Village PlIndianapolis, IN 46237
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$1,067 - $5,4911 to 3 Bedroom Apartments Available Now
Overlook at Valley Ridge Apartments
6810 Valley Ridge DrIndianapolis, IN 46237
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$1,121 - $1,6871 to 4 Bedroom Apartments Contact Us For Availability
Kinwood Place
4901 S Emerson AveIndianapolis, IN 46203
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$1,179 - $2,9681 to 3 Bedroom Apartments Available Now
Latitudes Apartments
8940 Latitudes DrIndianapolis, IN 46237
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$1,280 - $1,8501 to 3 Bedroom Apartments Available Now
Lakes of Windsor
7251 Windsor Lakes DrIndianapolis, IN 46237
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$1,358 - $2,020Studio to 3 Bedroom Apartments Available Now
ARLO Apartments
5945 Arlo DrIndianapolis, IN 46237
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.
5334 Padre Ln
IndianapolisIN46237
5719 Wood Hollow Dr
IndianapolisIN46239
10610 Crackling Dr
IndianapolisIN46259
8051 Little River Ln
IndianapolisIN46239
8039 Retreat Ln
IndianapolisIN46259
5439 Durango Ct
IndianapolisIN46237
5729 Ensenada Ave
IndianapolisIN46237
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.
5723 Ensenada Ave
IndianapolisIN46237
5844 Timberlake Blvd
IndianapolisIN46237
6723 Harvest Ridge Ct
IndianapolisIN46237
5951 Brouse Dr
IndianapolisIN46237
6404 Amarillo Way
IndianapolisIN46237
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$1,873 - $2,9662 Bedroom Apartments Available Now
Redwood Indianapolis
7925 Carlington RdIndianapolis, IN 46237
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$1,899 - $2,1752 to 3 Bedroom Apartments Available Jun 20
Coventry Park Village
5500 S Emerson AveIndianapolis, IN 46237
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.
7260 Kidwell Dr
IndianapolisIN46239
5602 Wild Horse Dr
IndianapolisIN46239
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Studio to 2 Bedroom Apartments
Heathmoore - Indianapolis
5984 Heathmoore DrIndianapolis, IN 46237
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1 to 2 Bedroom Apartments
Farhill Lake Apartments
4927 Encore DrIndianapolis, IN 46237
10166 Southeastern Ave
IndianapolisIN46239
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1 to 2 Bedroom Apartments
Alder Woods
6806 E County Line RdIndianapolis, IN 46237
5310 Shelbyville Rd
IndianapolisIN46237
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.
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$1,072 - $1,1991 to 2 Bedroom Apartments Available Now
The Brixton
4929 Red Robin DrBeech Grove, IN 46107
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$1,420 - $2,0001 to 3 Bedroom Apartments Available Now
Arlington Farms
2755 Red Bloom DrGreenwood, IN 46143
Showing Results 1-30, Page 1 of 1
South Franklin, Indianapolis, IN Local Guide
How much does it cost to rent an apartment in South Franklin?
| Bedroom | Average Rent | Cheapest Rent | Highest Rent |
|---|---|---|---|
| South Franklin Studio Apartments | $1,378 | $1,358 | $1,398 |
| South Franklin 1 Bedroom Apartments | $1,241 | $949 | $1,854 |
| South Franklin 2 Bedroom Apartments | $1,593 | $1,139 | $2,391 |
| South Franklin 3 Bedroom Apartments | $1,809 | $1,517 | $2,175 |
| South Franklin 4 Bedroom Apartments | $1,687 | $1,687 | $1,687 |
Note: Properties with the Total Monthly Price badge include all required fees. Hover over the badge for details.
Browse Apartments in this Neighborhood
There are currently 30 rentals with your search options within a 2 mile radius of the South Franklin Neighborhood of Indianapolis, IN.
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South Franklin, Indianapolis, IN Local Guide
- Nearby Indianapolis neighborhoods
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Cheapest Available South Franklin Apartments for Rent
The cheapest available apartment rental in the South Franklin area of Indianapolis, IN is a 1 Bed unit found at Heathmoore - Indianapolis priced from $925. Keeneland Crest Apartments has the second lowest priced unit, which is a 1 Bed apartment currently listed from $949. Here are the most affordable South Franklin apartments for rent in Indianapolis, IN:
| Apartment Listing | Model Name | Bed/Bath | Priced From |
|---|---|---|---|
| Heathmoore - Indianapolis | 1 Bed 1 Bath | 1BR,1BA | $925 |
| Keeneland Crest Apartments | Bristol | 1BR,1BA | $949 |
| Emerson Village | The Cardinal - Premium | 1BR,1BA | $956 |
| The Brixton | The Ashby | 1BR,1BA | $1,072 |
| Overlook at Valley Ridge Apartments | A2 - Napa | 1BR,1BA | $1,078 |
| Latitudes Apartments | The Sundial 1 BR 1 BA | 1BR,1BA | $1,179 |
| Alder Woods | Hemlock | 1BR,1BA | $1,305 |
| Arlington Farms | 1 Bed, 1 Bath | 1BR,1BA | $1,420 |
| Lakes of Windsor | Churchill | 2BR,2BA | $1,470 |
| ARLO Apartments | Milo | 2BR,2BA | $1,720 |
Best Value Apartments for Rent in South Franklin, IN
As of June 14, 2026 the best value apartment in the South Franklin area is the $1.51 price per square foot Meadowood Model at Redwood Indianapolis in the in the Southeast Indianapolis neighborhood starting from $1,999. The second greatest value South Franklin apartment is the Nash Model at ARLO Apartments starting at $1,760 with a $1.48 price per square foot in the Southeast Indianapolis neighborhood. Here is today’s list of the best values for South Franklin apartments based on price per square foot:
| Apartment Listing | Model Name | Bed/Bath | Price Per Sq.Ft. |
|---|---|---|---|
| Redwood Indianapolis | Meadowood | 2BR,2BA | $1.51 |
| ARLO Apartments | Nash | 2BR,2BA | $1.48 |
| Lakes of Windsor | Churchill | 2BR,2BA | $1.39 |
| Keeneland Crest Apartments | Hartford | 2BR,1BA | $1.41 |
| Arlington Farms | 1 Bed, 1 Bath | 1BR,1BA | $1.73 |
| Latitudes Apartments | The Sundial 1 BR 1 BA | 1BR,1BA | $1.51 |
| Overlook at Valley Ridge Apartments | A2 - Napa | 1BR,1BA | $1.41 |
| The Brixton | The Ashby | 1BR,1BA | $1.65 |
| Emerson Village | The Cardinal - Premium | 1BR,1BA | $1.56 |
| Heathmoore - Indianapolis | 1 Bed 1 Bath | 1BR,1BA | $1.61 |
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.
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Your Guide to Picking the Perfect Indianapolis Neighborhood for Student Renters
Learn About the Best Neighborhoods to Rent Near College Campuses in Indianapolis, IN | Find Charlotte Indianapolis Student Housing at ApartmentHomeLiving.com
Read ArticleReal 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.
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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.
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Best Local Schools in South Franklin, Indianapolis, IN
Lillie Idella Kitley Elementary
Franklin Township Com Sch Corp
Public School - Grades K-5 (1178)
4 out of 10
Franklin Central High School
Franklin Township Com Sch Corp
Public School - Grades 9-12 (3319)
9 out of 10
Franklin Central Junior High
Franklin Township Com Sch Corp
Public School - Grades 6-8 (1711)
7 out of 10
School data provided by Great Schools
Frequently Asked Questions about Cheap South Franklin Apartments
How much is rent for a Cheap One Bedroom South Franklin Apartment?
The lowest price for a Cheap One Bedroom South Franklin Apartment is $925 at Heathmoore - Indianapolis.
What is the lowest price for a Cheap Two Bedroom South Franklin Apartment for rent?
Today's best deal for a Cheap Two Bedroom Apartment in South Franklin is starting from $1,065 at Heathmoore - Indianapolis.
What is the most affordable South Franklin Three Bedroom Apartment?
The best deal on a cheap South Franklin Three Bedroom Apartment rental is at Overlook at Valley Ridge Apartments and starts from $1,517.
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
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.
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.
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.