10166 Southeastern Ave
IndianapolisIN46239
Cheap Homes for Rent in South Franklin Neighborhood of Indianapolis, IN from $1,200 (17 Rentals)
Search the lowest-cost Homes available for rent right now in the South Franklin area of Indianapolis.
5333 Padre Ln
IndianapolisIN46237
5739 Ensenada Ave
IndianapolisIN46237
5477 Wood Hollow Dr
IndianapolisIN46239
10915 Firefly Cir
IndianapolisIN46259
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.
5132 Carob Ct
IndianapolisIN46237
8351 Brambleberry Dr
IndianapolisIN46239
5804 Foolish Pleasure Ln
IndianapolisIN46237
5318 Wood Hollow Dr
IndianapolisIN46239
8243 Firefly Way
IndianapolisIN46259
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.
4714 Angelica Dr
IndianapolisIN46237
5561 Wild Horse Dr
IndianapolisIN46239
5640 Rambling Dr
IndianapolisIN46239
8039 Southern Springs Blvd
IndianapolisIN46237
8303 Southern Springs Dr
IndianapolisIN46237
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.
5411 Padre Ln
IndianapolisIN46237
10904 Firefly Ct
IndianapolisIN46259
Showing Results 1-17, 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 | $1,645 | $1,295 | $1,995 |
| South Franklin 3 Bedroom Homes for Rent | $1,907 | $1,695 | $2,395 |
| South Franklin 4 Bedroom Homes for Rent | $2,521 | $1,849 | $4,500 |
| South Franklin 5 Bedroom Homes for Rent | $2,950 | $2,300 | $3,600 |
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 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 $922. Overlook at Valley Ridge Apartments has the second lowest priced unit, which is a 1 Bed apartment currently listed from $984. 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 | $922 |
| Overlook at Valley Ridge Apartments | A2 - Napa | 1BR,1BA | $984 |
| Heathmoore - Indianapolis | 1 Bed 1 Bath | 1BR,1BA | $1,050 |
| Keeneland Crest Apartments | Camden | 2BR,1BA | $1,119 |
| The Brixton | The Ashby | 1BR,1BA | $1,154 |
Best Value Apartments for Rent in South Franklin, IN
As of March 02, 2026 the best value apartment in the South Franklin area is the $1.45 price per square foot Willowood Model at Redwood Indianapolis in the in the Southeast Indianapolis neighborhood starting from $1,974. The second greatest value South Franklin apartment is the 2 Bedroom 2.5 Bath Townhome Model at Coventry Park Village starting at $1,650 with a $1.24 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 | Willowood | 2BR,2BA | $1.45 |
| Coventry Park Village | 2 Bedroom 2.5 Bath Townhome | 2BR,2.5BA | $1.24 |
| Lakes of Windsor | Churchill | 2BR,2BA | $1.39 |
| Keeneland Crest Apartments | Hartford | 2BR,1BA | $1.39 |
| Arlington Farms | 1 Bed, 1 Bath | 1BR,1BA | $1.70 |
| Latitudes Apartments | The Sundial 1 BR 1 BA | 1BR,1BA | $1.55 |
| Overlook at Valley Ridge Apartments | A1 - Champlain | 1BR,1BA | $1.46 |
| The Brixton | The Ashby | 1BR,1BA | $1.78 |
| Emerson Village | The Cardinal - Premium | 1BR,1BA | $1.56 |
| Heathmoore - Indianapolis | 1 Bed 1 Bath | 1BR,1BA | $1.82 |
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
The 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
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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 (1125)
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 7-8 (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 19 Apartments for Rent in South Franklin, IN with pricing that ranges from $790 to $3,525. There are also 37 Single Family Homes for rent, Condos, and Townhome rentals currently available in South Franklin ranging from $1,295 to $4,500.
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 $4,500 with an average monthly rent of $2,255.
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 $2,742, while Three Bedroom Homes, Condos, and Townhomes for rent range from $1,695 to $2,395. Four Bedroom Single-Family rentals are also available starting from $1,849 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.
Articles, How-To's, and Tips
Maximizing Your Refund: Essential Tax Tips for Renters
Written by: Christine Leonard, Esq.
Other than tax professionals, I can’t think of anyone who looks forward to tax season. For everybody else, April is a stressful month to collect information and meet deadlines.
18 Must-Ask Rental Tour Questions That Reveal the Truth about a Property
Written by: Lauren Harrington
Renting your next home can feel thrilling and overwhelming at the same time.
A Renters Guide for Tips on Writing Your Notice for Not Renewing Your Apartment
Written by: Bob Mallory
Packing up everything you own to move is so stressful for many that ending your apartment lease can feel like a small or unimportant task. Ending your lease involves more than simply turning over your keys on the last day.
Renting with Roommates: Realistic Expectations for Shared Lease
Written by: Christine Leonard, Esq.
Given the high costs for housing, I have found that many people are looking for a roommate to share expenses. These arrangements can increase opportunities for more desirable and larger spaces.