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$938 - $1,3201 to 2 Bedroom Apartments Available Now
Emerson Village
5140 Emerson Village PlIndianapolis, IN 46237
Cheap Apartments for Rent in the South Franklin Neighborhood of Indianapolis, IN from $810 (19 Rentals)
Search the lowest-cost Apartments available for rent right now in the South Franklin area of Indianapolis.
6447 S Franklin Rd
IndianapolisIN46259
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$1,051 - $5,1121 to 3 Bedroom Apartments Available Now
Overlook at Valley Ridge Apartments
6810 Valley Ridge DrIndianapolis, IN 46237
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$1,093 - $1,6711 to 2 Bedroom Apartments Available Now
Keeneland Crest Apartments
8401 Boggs Creek DrIndianapolis, IN 46237
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$1,265 - $2,9741 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
Indy's Innovation Hub: Top Indianapolis Employers and the Neighborhoods that Welcome You Home
Find your dream job and perfect neighborhood in Indy. Discover major companies and the best places to live for young professionals and families, from historic districts to quiet, upscale communities.
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$1,305 - $1,4501 to 2 Bedroom Apartments Available Now
Alder Woods
6806 E County Line RdIndianapolis, IN 46237
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$1,320 - $2,020Studio to 3 Bedroom Apartments Available Now
ARLO Apartments
5945 Arlo DrIndianapolis, IN 46237
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$1,333 - $2,0082 to 4 Bedroom Apartments Available Now
Kinwood Place
4901 S Emerson AveIndianapolis, IN 46203
5204 Bahia Dr
IndianapolisIN46237
5435 Durango Ct
IndianapolisIN46237
5435 Durango Ct
IndianapolisIN46237
Rent According to Income: A Look at Income-Restricted Rentals
Find income-restricted rentals and housing subsidies. Explore government programs designed to help low-income families secure stable, affordable housing.
5219 Heathwood Dr
IndianapolisIN46237
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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
5532 Burning Tree Ct
IndianapolisIN46239
5505 Straw Hat Dr
IndianapolisIN46237
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$1,092 - $1,2291 to 2 Bedroom Apartments Available Now
Brixton
4929 Red Robin DrBeech Grove, IN 46107
Find Your Indy Home: A Guide to Indianapolis Apartment Rentals and Neighborhoods
Discover the heart of the Midwest! Learn about popular Indianapolis neighborhoods to rent like Speedway and Eagledale, plus top universities and can't-miss places to eat.
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$1,420 - $1,9001 to 3 Bedroom Apartments Available Now
Arlington Farms
2755 Red Bloom DrGreenwood, IN 46143
Showing Results 1-19, 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 | $1,330 | $1,320 | $1,340 |
| South Franklin 1 Bedroom Apartments | $1,252 | $938 | $1,921 |
| South Franklin 2 Bedroom Apartments | $1,563 | $991 | $2,349 |
| South Franklin 3 Bedroom Apartments | $1,906 | $1,545 | $5,433 |
| South Franklin 4 Bedroom Apartments | $2,008 | $2,008 | $2,008 |
Browse Apartments in this Neighborhood
There are currently 19 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
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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 $938. Overlook at Valley Ridge Apartments has the second lowest priced unit, which is a 1 Bed apartment currently listed from $1,051. Here are the most affordable South Franklin apartments for rent in Indianapolis, IN:
| Apartment Listing | Model Name | Bed/Bath | Priced From |
|---|---|---|---|
| Emerson Village | Cardinal | 1BR, 1BA | $938 |
| Overlook at Valley Ridge Apartments | A - Mohawk | 1BR, 1BA | $1,051 |
| Heathmoore - Indianapolis | 1 Bed 1 Bath | 1BR, 1BA | $1,145 |
| Keeneland Crest Apartments | Brentwood | 2BR, 2BA | $1,158 |
| Brixton | Chatham 2.1 - 2.1 | 2BR, 1BA | $1,184 |
Best Value Apartments for Rent in South Franklin, IN
As of September 18, 2026 the best value apartment in the South Franklin area is the $1.35 price per square foot 4x2 Model at Kinwood Place in the Southeast Indianapolis neighborhood starting from $2,008. The second greatest value South Franklin apartment is the 2 Bedroom 2.5 Bath Townhome Model at Coventry Park Village in the Southeast Indianapolis neighborhood starting at $1,899 with a $1.42 price per square foot. 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. |
|---|---|---|---|
| Kinwood Place | 4x2 | 4BR, 2BA | $1.35 |
| Coventry Park Village | 2 Bedroom 2.5 Bath Townhome | 2BR, 2.5BA | $1.42 |
| Redwood Indianapolis | Breezewood | 2BR, 2BA | $1.48 |
| Lakes of Windsor | Winchester | 2BR, 1BA | $1.39 |
| Brixton | Chatham 2.1 - 2.1 | 2BR, 1BA | $1.38 |
| Keeneland Crest Apartments | Bristol | 1BR, 1BA | $1.48 |
| Arlington Farms | 1 Bed, 1 Bath | 1BR, 1BA | $1.73 |
| Latitudes Apartments | The Sundial 1 BR 1 BA | 1BR, 1BA | $1.62 |
| Overlook at Valley Ridge Apartments | A1 - Champlain | 1BR, 1BA | $1.62 |
| Emerson Village | Cardinal | 1BR, 1BA | $1.53 |
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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Navigating the Rental Market: Tips for First-Time Renters
Entering the rental market? Learn these simple tips and strategies to avoid common pitfalls and make confident choices. Rent with peace of mind.
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 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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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 (3438)
7 out of 10
Franklin Central Junior High
Franklin Township Com Sch Corp
Public School - Grades 6-8 (1797)
5 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 $938 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 $1,158 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 Latitudes Apartments and starts from $1,670.
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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Welcome to Indy: A Local Expert's Guide to the City's Best Short-Term Rental Neighborhoods
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My name is Wendy, and I am the local expert for ApartmentHomeLiving.com in the Indianapolis area. Being born and raised in Indiana, I know the true meaning of Hoosier hospitality.
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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.
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Renters want to find a great apartment, the right place for them, one that checks all the boxes of location, rental cost, amenities, safety, and more.