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from $1,0371 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 $800 (8 Rentals)
Search the lowest-cost Apartments available for rent right now in the South Franklin area of Indianapolis.
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from $1,0481 to 3 Bedroom Apartments Available Now
Overlook at Valley Ridge Apartments
6810 Valley Ridge DrIndianapolis, IN 46237
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from $1,1741 to 2 Bedroom Apartments Available Now
Keeneland Crest Apartments
8401 Boggs Creek DrIndianapolis, IN 46237
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from $1,1951 to 2 Bedroom Apartments Available Now
Alder Woods LLC
6806 E County Line RdIndianapolis, IN 46237
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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from $1,1971 to 3 Bedroom Apartments Available Now
Latitudes Apartments
8940 Latitudes DrIndianapolis, IN 46237
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from $1,2001 to 3 Bedroom Apartments Available Now
Lakes of Windsor
7251 Windsor Lakes DrIndianapolis, IN 46237
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from $1,1241 to 2 Bedroom Apartments Available Jul 16
The Brixton
4929 Red Robin DrBeech Grove, IN 46107
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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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 | $1,376 | $1,370 | $1,390 |
| South Franklin 1 Bedroom Apartments | $1,441 | $1,037 | $2,795 |
| South Franklin 2 Bedroom Apartments | $1,623 | $1,124 | $2,922 |
| South Franklin 3 Bedroom Apartments | $2,030 | $1,575 | $3,834 |
| South Franklin 4 Bedroom Apartments | $2,519 | $2,080 | $3,220 |
Browse Apartments in this Neighborhood
There are currently 8 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
- Nearby Cities
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- Local Counties
- School Districts
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 Overlook at Valley Ridge Apartments priced from $1,048. Emerson Village has the second lowest priced unit, which is a 2 Beds apartment currently listed from $1,151. Here are the most affordable South Franklin apartments for rent in Indianapolis, IN:
| Apartment Listing | Model Name | Bed/Bath | Priced From |
|---|---|---|---|
| Overlook at Valley Ridge Apartments | A2 - Napa | 1BR,1BA | $1,048 |
| Emerson Village | The Ruby - Premium | 2BR,1BA | $1,151 |
| Keeneland Crest Apartments | Brentwood | 2BR,2BA | $1,189 |
Best Value Apartments for Rent in South Franklin, IN
As of May 29, 2025 the best value apartment in the South Franklin area is the $1.19 price per square foot Windsor Model at Lakes of Windsor in the in the Southeast Indianapolis neighborhood starting from $1,670. The second greatest value South Franklin apartment is the 2 Bedroom 2.5 Bath Townhome Model at Coventry Park Village starting at $1,925 with a $1.44 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. |
|---|---|---|---|
| Lakes of Windsor | Windsor | 3BR,2BA | $1.19 |
| Coventry Park Village | 2 Bedroom 2.5 Bath Townhome | 2BR,2.5BA | $1.44 |
| Keeneland Crest Apartments | Camden | 2BR,1BA | $1.34 |
| Arlington Farms | 1 Bed, 1 Bath | 1BR,1BA | $1.75 |
| Latitudes Apartments | The Sundial 1 BR 1 BA | 1BR,1BA | $1.56 |
| Emerson Village | The Ruby - Premium | 2BR,1BA | $1.50 |
| Alder Woods LLC | Alder | 2BR,1BA | $1.87 |
| Overlook at Valley Ridge Apartments | A - Mohawk | 1BR,1BA | $1.60 |
| ARLO Apartments | Finn | Studio ,1BA | $2.14 |
Quick Rent Budget Calculator
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Pet Friendly LifestyleSouth Franklin, Indianapolis, IN
Ranked #129
Among neighborhoods in Indianapolis, IN for Apartment listings with Pet Friendly Amenities
Pet Friendliness Lifestyle Score
4.0Pet Friendly
Best Local Schools in South Franklin, Indianapolis, IN
Lillie Idella Kitley Elementary
Franklin Township Com Sch Corp
Public School - Grades K-5 (1125)
4 out of 10
Franklin Central High School
Franklin Township Com Sch Corp
Public School - Grades 9-12 (3319)
7 out of 10
Franklin Central Junior High
Franklin Township Com Sch Corp
Public School - Grades 7-8 (1711)
6 out of 10
School data provided by Great Schools
Getting Around the South Franklin Neighborhood in Indianapolis, IN
Walk Score®
29 / 100
Car-Dependent
Most errands require a car
Bike Score®
35 / 100
Somewhat Bikeable
Minimal bike infrastructure
Transit Score®
13 / 100
Minimal Transit
It may be possible to get on a bus
What Are Walk Score®, Transit Score®, and Bike Score® Ratings?
- Walk Score® measures the walkability of any address.
- Transit Score® measures access to public transit.
- Bike Score® measures the bikeability of any address.
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 $1,370.
How much is rent for a Cheap One Bedroom South Franklin Apartment?
The lowest price for a Cheap One Bedroom South Franklin Apartment is $1,048 at Overlook at Valley Ridge Apartments.
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 $1,151 at Emerson Village.
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 $1,584.
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.
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.
The Freedom of Short-Term Leases: Exploring the Advantages for Renters
Written by: Bobbi Jackson
If you’re looking to relocate right now, a popular solution that may best fit your current rental needs is a short-term lease.