2-Bedroom Apartment Rent in Franklin, IN
Median asking rent for a 2-bedroom apartment in Franklin, Indiana as of July 2026. That's +32% lower than the citywide median of $1,808 and +26% below the national 2-bedroom median of $1,655.
Income needed for a 2-bedroom in Franklin
Using the standard 30% rent-to-income guideline (the threshold above which households are considered rent-burdened), here's what you need to earn to comfortably afford a 2-bedroom at the current median rent.
Rent by apartment size in Franklin
Compare Franklin's median rent across every apartment size.
Cheapest cities for a 2-bedroom in Indiana
| # | City | 2-Bedroom rent |
|---|---|---|
| 1 | Frankfort | $709 |
| 2 | Crawfordsville | $884 |
| 3 | East Chicago | $930 |
| 4 | Logansport | $930 |
| 5 | Marion | $930 |
| 6 | New Castle | $930 |
| 7 | Richmond | $940 |
| 8 | Angola | $970 |
| 9 | Delphi | $970 |
| 10 | La Porte | $978 |
| 11 | Muncie | $978 |
| 12 | Kokomo | $990 |
| 13 | Michigan City | $1,020 |
| 14 | Terre Haute | $1,023 |
| 15 | Elkhart | $1,055 |
Most expensive cities for a 2-bedroom in Indiana
| # | City | 2-Bedroom rent |
|---|---|---|
| 1 | Zionsville | $1,870 |
| 2 | Whitestown | $1,790 |
| 3 | Carmel | $1,783 |
| 4 | McCordsville | $1,620 |
| 5 | Lawrence | $1,620 |
| 6 | Avon | $1,600 |
| 7 | Westfield | $1,580 |
| 8 | Fishers | $1,577 |
| 9 | Granger | $1,540 |
| 10 | Brownsburg | $1,510 |
| 11 | Sellersburg | $1,460 |
| 12 | Munster | $1,450 |
| 13 | Merrillville | $1,440 |
| 14 | Noblesville | $1,415 |
| 15 | Lowell | $1,390 |
Nearby cities — 2-bedroom rent
Considering nearby alternatives? 5 of these cities have cheaper 2-bedroom rents than Franklin.
| City | Distance | 2-Bedroom rent | vs Franklin |
|---|---|---|---|
| Greenwood, IN | 11.7 mi | $1,365 | +$135 (+11%) |
| Beech Grove, IN | 17.1 mi | $1,220 | $-10 (-1%) |
| Shelbyville, IN | 18.9 mi | $1,220 | $-10 (-1%) |
| Columbus, IN | 21.3 mi | $1,200 | $-30 (-2%) |
| Indianapolis, IN | 23.1 mi | $1,358 | +$128 (+10%) |
| Speedway, IN | 26.6 mi | $1,220 | $-10 (-1%) |
| Plainfield, IN | 28.2 mi | $1,380 | +$150 (+12%) |
| Lawrence, IN | 28.5 mi | $1,620 | +$390 (+32%) |
| Greenfield, IN | 29.4 mi | $1,220 | $-10 (-1%) |
| McCordsville, IN | 30.2 mi | $1,620 | +$390 (+32%) |
| Avon, IN | 31.9 mi | $1,600 | +$370 (+30%) |
| Fishers, IN | 33.9 mi | $1,577 | +$347 (+28%) |
2-Bedroom rent in Franklin — common questions
How much is a 2-bedroom apartment in Franklin?
As of July 2026, the median 2-bedroom apartment rent in Franklin, Indiana is $1,230 per month. This is +32% below the citywide median of $1,808.
What income do you need to afford a 2-bedroom in Franklin?
Using the standard 30% rent-to-income rule, you would need an annual income of about $49,200 ($4,100/month gross), which works out to roughly $23.65/hour at a full-time job.
Is Franklin expensive for a 2-bedroom compared to the rest of the US?
Franklin's 2-bedroom median of $1,230 is +26% below the national 2-bedroom median of $1,655. It ranks in the 22th percentile of US cities tracked.
How does Franklin rank for 2-bedroom rent in Indiana?
Among the 65 cities in Indiana with 2-bedroom data, Franklin ranks #37 from cheapest to most expensive.
Are there cheaper 2-bedroom options near Franklin?
Yes — nearby cities with cheaper 2-bedroom rents include Beech Grove ($1,220), Shelbyville ($1,220), Columbus ($1,200).