5373 Padre Ln
IndianapolisIN46237
Cheap Homes for Rent in South Franklin Neighborhood of Indianapolis, IN from $800 (3 Rentals)
Search the lowest-cost Homes available for rent right now in the South Franklin area of Indianapolis.
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.
6316 Olympic Ct
IndianapolisIN46237
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.
6543 Margaret Ct
IndianapolisIN46237
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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 3 Bedroom Homes for Rent | $1,800 | $899 | $2,345 |
| South Franklin 4 Bedroom Homes for Rent | $2,235 | $1,845 | $3,200 |
| South Franklin 5 Bedroom Homes for Rent | $2,614 | $2,400 | $2,999 |
Browse Homes for Rent in this Neighborhood
There are currently 3 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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Best Value Apartments for Rent in South Franklin, IN
As of July 18, 2025 the best value apartment in the South Franklin area is the $1.48 price per square foot Otis Model at ARLO Apartments in the in the Southeast Indianapolis neighborhood starting from $2,020. 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. |
|---|---|---|---|
| ARLO Apartments | Otis | 3BR,2BA | $1.48 |
| Coventry Park Village | 2 Bedroom 2.5 Bath Townhome | 2BR,2.5BA | $1.44 |
| Keeneland Crest Apartments | Camden | 2BR,1BA | $1.34 |
| Latitudes Apartments | The Pendulum 2 BR 2 BA | 2BR,2BA | $1.60 |
| Arlington Farms | 1 Bed, 1 Bath | 1BR,1BA | $1.75 |
| Overlook at Valley Ridge Apartments | A3 - Hudson | 1BR,1BA | $1.40 |
| Lakes of Windsor | Chelsea | 1BR,1BA | $1.53 |
| Emerson Village | The Redwood - Premium | 1BR,1BA | $1.56 |
| The Brixton | The Ashby | 1BR,1BA | $1.76 |
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Frequently Asked Questions about South Franklin
What type of rentals are currently available in South Franklin?
There are currently 15 Apartments for Rent in South Franklin, IN with pricing that ranges from $1,058 to $4,333. There are also 28 Single Family Homes for rent, Condos, and Townhome rentals currently available in South Franklin ranging from $899 to $3,200.
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 $899 to $3,200 with an average monthly rent of $2,216.
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.
Roommate Matching: Finding the Right Fit and Avoiding Pitfalls
Written by: Cheryl Bowman
A fantastic way to save money and enjoy a built-in community is to share an apartment. However, a bad roommate situation can turn your dream rental into a nightmare.
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.