10166 Southeastern Ave
IndianapolisIN46239
Cheap Homes for Rent in South Franklin Neighborhood of Indianapolis, IN from $1,200 (11 Rentals)
Search the lowest-cost Homes available for rent right now in the South Franklin area of Indianapolis.
5717 Hacienda Ct
IndianapolisIN46237
5739 Ensenada Ave
IndianapolisIN46237
10610 Crackling Dr
IndianapolisIN46259
5729 Ensenada Ave
IndianapolisIN46237
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.
6723 Harvest Ridge Ct
IndianapolisIN46237
6210 Carrie Cir
IndianapolisIN46237
6404 Amarillo Way
IndianapolisIN46237
5951 Brouse Dr
IndianapolisIN46237
5309 Waterton Lakes Dr
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.
5310 Shelbyville Rd
IndianapolisIN46237
Showing Results 1-11, Page 1 of 1
South Franklin, Indianapolis, IN Local Guide
How much does it cost to rent a home in South Franklin?
| Bedroom | Average Rent | Cheapest Rent | Highest Rent |
|---|---|---|---|
| South Franklin 2 Bedroom Homes for Rent | $1,295 | $1,295 | $1,295 |
| South Franklin 3 Bedroom Homes for Rent | $1,978 | $1,620 | $2,470 |
| South Franklin 4 Bedroom Homes for Rent | $2,745 | $1,820 | $4,950 |
| South Franklin 5 Bedroom Homes for Rent | $2,600 | $2,600 | $2,600 |
Note: Properties with the Total Monthly Price badge include all required fees. Hover over the badge for details.
Browse Homes for Rent in this Neighborhood
There are currently 11 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. Emerson Village has the second lowest priced unit, which is a 1 Bed apartment currently listed from $927. 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 |
| Emerson Village | The Cardinal - Premium | 1BR,1BA | $927 |
| Keeneland Crest Apartments | Bristol | 1BR,1BA | $949 |
| The Brixton | The Ashby | 1BR,1BA | $1,072 |
| Overlook at Valley Ridge Apartments | A2 - Napa | 1BR,1BA | $1,116 |
Best Value Apartments for Rent in South Franklin, IN
As of June 01, 2026 the best value apartment in the South Franklin area is the $1.43 price per square foot Breezewood Model at Redwood Indianapolis in the in the Southeast Indianapolis neighborhood starting from $1,879. 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 | $1.43 |
| Lakes of Windsor | Churchill | 2BR,2BA | $1.39 |
| Keeneland Crest Apartments | Hartford | 2BR,1BA | $1.41 |
| Arlington Farms | 1 Bed, 1 Bath | 1BR,1BA | $1.77 |
| Latitudes Apartments | The Sundial 1 BR 1 BA | 1BR,1BA | $1.52 |
| Overlook at Valley Ridge Apartments | A2 - Napa | 1BR,1BA | $1.46 |
| 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 | $1.61 |
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.
Read Article
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.
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 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 South Franklin
What type of rentals are currently available in South Franklin?
There are currently 17 Apartments for Rent in South Franklin, IN with pricing that ranges from $775 to $3,525. There are also 33 Single Family Homes for rent, Condos, and Townhome rentals currently available in South Franklin ranging from $1,295 to $4,950.
What is the current price range for Rental Homes in South Franklin?
Today's rental pricing for Homes for Rent, Condos and Townhomes in South Franklin ranges from $1,295 to $4,950 with an average monthly rent of $2,154.
How much are larger Three and Four Bedroom Rentals in South Franklin?
For those who are looking for larger living arrangements, Three Bedroom Apartments in South Franklin range from $1,523 to $2,175, while Three Bedroom Homes, Condos, and Townhomes for rent range from $1,620 to $2,470. Four Bedroom Single-Family rentals are also available starting from $1,820 and Four Bedroom Apartments start at $1,687.
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
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.
A Seasoned Property Manager's Step-by-Step Guide to Getting Your Deposit Back
Written by: Lauren Harrington
I’m going to talk with you as a seasoned property manager and friend. So, let’s start with your security deposit. I want you to think about this guide as insider information. You deserve your deposit back.
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.