3-Bedroom Apartment Rent in Franklin, IN
Median asking rent for a 3-bedroom apartment in Franklin, Indiana as of July 2026. That's +12% lower than the citywide median of $1,808 and +25% below the national 3-bedroom median of $2,130.
Income needed for a 3-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 3-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 3-bedroom in Indiana
| # | City | 3-Bedroom rent |
|---|---|---|
| 1 | Frankfort | $924 |
| 2 | New Castle | $1,130 |
| 3 | East Chicago | $1,150 |
| 4 | La Porte | $1,152 |
| 5 | Crawfordsville | $1,158 |
| 6 | Richmond | $1,160 |
| 7 | Marion | $1,210 |
| 8 | Angola | $1,220 |
| 9 | Delphi | $1,230 |
| 10 | Logansport | $1,230 |
| 11 | Terre Haute | $1,233 |
| 12 | Kokomo | $1,245 |
| 13 | Muncie | $1,283 |
| 14 | Michigan City | $1,290 |
| 15 | Warsaw | $1,300 |
Most expensive cities for a 3-bedroom in Indiana
| # | City | 3-Bedroom rent |
|---|---|---|
| 1 | Zionsville | $2,430 |
| 2 | Whitestown | $2,330 |
| 3 | Carmel | $2,320 |
| 4 | McCordsville | $2,110 |
| 5 | Lawrence | $2,110 |
| 6 | Avon | $2,080 |
| 7 | Westfield | $2,060 |
| 8 | Fishers | $2,050 |
| 9 | Brownsburg | $1,960 |
| 10 | Granger | $1,910 |
| 11 | Sellersburg | $1,880 |
| 12 | Noblesville | $1,840 |
| 13 | Plainfield | $1,800 |
| 14 | Munster | $1,790 |
| 15 | Greenwood | $1,775 |
Nearby cities — 3-bedroom rent
Considering nearby alternatives? 5 of these cities have cheaper 3-bedroom rents than Franklin.
| City | Distance | 3-Bedroom rent | vs Franklin |
|---|---|---|---|
| Greenwood, IN | 11.7 mi | $1,775 | +$175 (+11%) |
| Beech Grove, IN | 17.1 mi | $1,590 | $-10 (-1%) |
| Shelbyville, IN | 18.9 mi | $1,590 | $-10 (-1%) |
| Columbus, IN | 21.3 mi | $1,490 | $-110 (-7%) |
| Indianapolis, IN | 23.1 mi | $1,768 | +$168 (+11%) |
| Speedway, IN | 26.6 mi | $1,590 | $-10 (-1%) |
| Plainfield, IN | 28.2 mi | $1,800 | +$200 (+13%) |
| Lawrence, IN | 28.5 mi | $2,110 | +$510 (+32%) |
| Greenfield, IN | 29.4 mi | $1,590 | $-10 (-1%) |
| McCordsville, IN | 30.2 mi | $2,110 | +$510 (+32%) |
| Avon, IN | 31.9 mi | $2,080 | +$480 (+30%) |
| Fishers, IN | 33.9 mi | $2,050 | +$450 (+28%) |
3-Bedroom rent in Franklin — common questions
How much is a 3-bedroom apartment in Franklin?
As of July 2026, the median 3-bedroom apartment rent in Franklin, Indiana is $1,600 per month. This is +12% below the citywide median of $1,808.
What income do you need to afford a 3-bedroom in Franklin?
Using the standard 30% rent-to-income rule, you would need an annual income of about $64,000 ($5,333/month gross), which works out to roughly $30.77/hour at a full-time job.
Is Franklin expensive for a 3-bedroom compared to the rest of the US?
Franklin's 3-bedroom median of $1,600 is +25% below the national 3-bedroom median of $2,130. It ranks in the 22th percentile of US cities tracked.
How does Franklin rank for 3-bedroom rent in Indiana?
Among the 65 cities in Indiana with 3-bedroom data, Franklin ranks #42 from cheapest to most expensive.
Are there cheaper 3-bedroom options near Franklin?
Yes — nearby cities with cheaper 3-bedroom rents include Beech Grove ($1,590), Shelbyville ($1,590), Columbus ($1,490).