Rentometer, Inc. | Data as of 10/23/2025
Franklin, Indiana offers a diverse rental market that caters to both young professionals and growing families. The city’s well‑preserved historic downtown, vibrant arts scene, and easy access to Indianapolis make it an attractive choice for renters seeking a blend of small‑town charm and metropolitan convenience. Popular neighborhoods such as the Old Town district and the River Street area provide walkable streets, local boutiques, and a variety of dining options, while nearby parks like Brookside Park and the sprawling White River State Recreation Area add ample outdoor recreation opportunities.
Apartment rentals in Franklin typically fall within the $1100‑$1250 range, with one‑ and two‑bedroom units offering modern amenities and convenient proximity to major employers, the local university campus, and public transit corridors. For those who prefer more space, single‑family homes dominate the market, especially in family‑focused communities such as the Franklin Country Club and the Heritage Estates subdivision. Larger houses with three or more bedrooms generally command rates in the $1700‑$2000 range, providing ample room for families, home‑based offices, or multigenerational living. These properties often feature mature landscaping, garage access, and easy routes to top‑rated schools like Franklin Central High School.
The rental landscape in Franklin is supported by a stable economy, a strong sense of community, and ongoing development projects that continue to enhance the city’s livability. Whether you’re seeking a compact apartment near the bustling downtown core or a spacious home in a tranquil suburb, Franklin’s rental options deliver a welcoming environment and a quality of life that appeals to a broad spectrum of renters.
| Property Type | Bedrooms | Average | Median | Min - Max | 25th - 75th |
|---|---|---|---|---|---|
| Apartment | 1 Bedroom | $1,109 | $1,109 | $1,089 - $1,129 | $1,089 - $1,129 |
| Apartment | 2 Bedroom | $1,242 | $1,239 | $1,209 - $1,279 | $1,209 - $1,279 |
| House | 2 Bedroom | $1,394 | $1,400 | $999 - $1,700 | $1,350 - $1,450 |
| House | 3 Bedroom | $1,734 | $1,705 | $1,100 - $2,275 | $1,625 - $1,830 |
| House | 4+ Bedroom | $1,996 | $1,940 | $1,340 - $3,000 | $1,825 - $2,160 |
In the current period, the average rent in Franklin was $1,215 for 1 Bedroom, $1,362 for 2 Bedroom, $1,733 for 3 Bedroom, and $1,955 for 4+ Bedroom.
Data provided by Rentometer, Inc.