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$780 - $3,570Studio to 2 Bedroom Apartments Available Now
Heathmoore - Indianapolis
5984 Heathmoore DrIndianapolis, IN 46237
Cheap Apartments for Rent in the South Franklin Neighborhood of Indianapolis, IN from $700 (17 Rentals)
Search the lowest-cost Apartments available for rent right now in the South Franklin area of Indianapolis.
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Rent Specials
$927 - $1,2891 to 2 Bedroom Apartments Available Now
Emerson Village
5140 Emerson Village PlIndianapolis, IN 46237
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$999 - $1,5191 to 3 Bedroom Apartments Available Now
Keeneland Crest Apartments
8401 Boggs Creek 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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$1,178 - $4,7171 to 3 Bedroom Apartments Available Now
Overlook at Valley Ridge Apartments
6810 Valley Ridge 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.
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$1,180 - $3,0381 to 3 Bedroom Apartments Available Now
Latitudes Apartments
8940 Latitudes DrIndianapolis, IN 46237
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$1,260 - $1,8501 to 3 Bedroom Apartments Available Now
Lakes of Windsor
7251 Windsor Lakes DrIndianapolis, IN 46237
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$1,340 - $2,020Studio to 3 Bedroom Apartments Available Now
ARLO Apartments
5945 Arlo DrIndianapolis, IN 46237
4962 Candy Spots Ct
IndianapolisIN46237
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1 to 2 Bedroom Apartments
Farhill Lake Apartments
4927 Encore DrIndianapolis, IN 46237
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.
10166 Southeastern Ave
IndianapolisIN46239
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1 to 2 Bedroom Apartments
Alder Woods
6806 E County Line RdIndianapolis, IN 46237
5508 Meckes Ln
IndianapolisIN46237
8177 Amarillo Dr
IndianapolisIN46237
6268 Glenshire Ln
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 - $1,1691 to 2 Bedroom Apartments Available Now
The Brixton
4929 Red Robin DrBeech Grove, IN 46107
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$1,425 - $2,0001 to 3 Bedroom Apartments Available Now
Arlington Farms
2755 Red Bloom DrGreenwood, IN 46143
Showing Results 1-17, 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 | $1,253 | $780 | $1,360 |
| South Franklin 1 Bedroom Apartments | $1,346 | $927 | $3,520 |
| South Franklin 2 Bedroom Apartments | $1,524 | $1,014 | $3,570 |
| South Franklin 3 Bedroom Apartments | $1,813 | $1,523 | $2,020 |
| South Franklin 4 Bedroom Apartments | $1,687 | $1,687 | $1,687 |
Browse Apartments in this Neighborhood
There are currently 17 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 Emerson Village priced from $927. Heathmoore - Indianapolis has the second lowest priced unit, which is a 1 Bed apartment currently listed from $975. Here are the most affordable South Franklin apartments for rent in Indianapolis, IN:
| Apartment Listing | Model Name | Bed/Bath | Priced From |
|---|---|---|---|
| Emerson Village | The Cardinal - Premium | 1BR,1BA | $927 |
| Heathmoore - Indianapolis | 1 Bed 1 Bath | 1BR,1BA | $975 |
| Keeneland Crest Apartments | Bristol | 1BR,1BA | $999 |
| The Brixton | The Ashby | 1BR,1BA | $1,072 |
| Latitudes Apartments | The Sundial 1 BR 1 BA | 1BR,1BA | $1,180 |
Best Value Apartments for Rent in South Franklin, IN
As of April 28, 2026 the best value apartment in the South Franklin area is the $1.56 price per square foot Breezewood Model at Redwood Indianapolis in the in the Southeast Indianapolis neighborhood starting from $2,058. The second greatest value South Franklin apartment is the Churchill Model at Lakes of Windsor starting at $1,470 with a $1.39 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 | Breezewood | 2BR,2BA | $1.56 |
| Lakes of Windsor | Churchill | 2BR,2BA | $1.39 |
| Overlook at Valley Ridge Apartments | B - Sonoma | 2BR,2BA | $1.39 |
| Keeneland Crest Apartments | Hartford | 2BR,1BA | $1.41 |
| Arlington Farms | 1 Bed, 1 Bath | 1BR,1BA | $1.74 |
| Latitudes Apartments | The Navigator 1 BR 1 BA | 1BR,1BA | $1.56 |
| The Brixton | The Ashby | 1BR,1BA | $1.65 |
| Alder Woods | Hemlock | 1BR,1BA | $2.01 |
| Emerson Village | The Cardinal - Premium | 1BR,1BA | $1.51 |
| Heathmoore - Indianapolis | 1 Bed 1 Bath | 1BR,1BA | $1.69 |
10 Hidden Costs of Renting You Should Budget for Before Signing a Lease
Avoid financial stress when renting. Learn about the 10 most common hidden costs—from pet fees to utilities—you must budget for before you sign a lease.
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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.
Read ArticleThe Ultimate Long-Distance Moving Checklist: Tips from a Real Estate Pro
Moving is tough, especially long-distance. Learn how to minimize stress & expenses with proven strategies from a real estate pro, covering everything from logistics to finances.
Read ArticleCash 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.
Read ArticleYour 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 ArticleQuick Rent Budget Calculator
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 Township Middle School West
Franklin Township Com Sch Corp
Public School - Grades 6-8 (924)
6 out of 10
School data provided by Great Schools
Frequently Asked Questions about Cheap South Franklin Apartments
What is the Cheapest Studio apartment in South Franklin?
Currently the most affordable Cheap Studio Apartment in South Franklin is at ARLO Apartments listed at $1,340.
How much is rent for a Cheap One Bedroom South Franklin Apartment?
The lowest price for a Cheap One Bedroom South Franklin Apartment is $927 at Emerson Village.
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 $1,119 at Keeneland Crest Apartments.
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 $1,592.
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
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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.
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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
Expert Solutions for Creating the Perfect Work-From-Home Apartment Layouts
Written by: Lauren Harrington
This article is based on first-hand experience managing apartment communities and helping renters adapt to their spaces after moving in.
What Does “Rent Burdened” Mean? How Much Rent Is Too Much
Written by: Lauren Harrington
This article draws from first-hand renter experiences and recurring financial challenges reported after moving in.
Maximizing Your Refund: Essential Tax Tips for Renters
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Renting your next home can feel thrilling and overwhelming at the same time.