Apartments for Rent in Franklin, IN

Prices and availability in Franklin, IN were last updated on 11 Jul 2026.

The best apartments in Franklin, IN are: Brixin Franklin, Stonebrook of Franklin, Meadowood, 1177 Alder Road Franklin, IN 46131 and 4007 Magnolia Drive Franklin, IN 46131.

The average rent in Franklin, IN is $1,390.

The price range for a 2-bedroom apartment in Franklin, IN is between $1,249 and $1,395.

The price range for a 3-bedroom apartment in Franklin, IN is between $1,249 and $2,025.

In Franklin 34% of the housing is rented out compared to 66% of homes are owned, according to the most recent Census Bureau estimates. 6% of Franklin's apartments are found in large buildings of 50 units or more, 48% are located in smaller apartment complexes with less than 50 units, and 42% are single-family rentals.

The average age of rental buildings in Franklin is 26 years old, with 49% being newer apartment buildings completed since 2000. The average height of apartment buildings in the city is 2 stories, of which all are garden-style apartment communities, none are mid-sized buildings, and none are high-rises. These characteristics describe large-scale apartment communities of 50 apartments or more.

Rental apartments in Franklin come in a range of sizes and floorplans. Studio apartments represent 0.4% of units for rent, ideal for singles, renters on a budget and people who value central locations more than space. Rentals with 1-bedroom floorplans make up 26% of the total apartments in the city, while 2-bedroom floorplans represent around 56% of all rentals in Franklin. The rest are larger floorplans with 3 bedrooms or more, typically preferred by families, larger households or roommates sharing space.