Studio Apartment Rent in Franklin, IN
Median asking rent for a studio apartment in Franklin, Indiana as of July 2026. That's +49% lower than the citywide median of $1,808 and +29% below the national studio median of $1,290.
Income needed for a studio 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 studio at the current median rent.
Rent by apartment size in Franklin
Compare Franklin's median rent across every apartment size.
Cheapest cities for a studio in Indiana
| # | City | Studio rent |
|---|---|---|
| 1 | Frankfort | $517 |
| 2 | Crawfordsville | $644 |
| 3 | Marion | $650 |
| 4 | East Chicago | $670 |
| 5 | Michigan City | $700 |
| 6 | Richmond | $710 |
| 7 | Delphi | $720 |
| 8 | Angola | $730 |
| 9 | New Castle | $730 |
| 10 | Muncie | $735 |
| 11 | Mishawaka | $740 |
| 12 | Logansport | $770 |
| 13 | South Bend | $775 |
| 14 | Kokomo | $780 |
| 15 | Evansville | $792 |
Most expensive cities for a studio in Indiana
| # | City | Studio rent |
|---|---|---|
| 1 | Zionsville | $1,390 |
| 2 | Whitestown | $1,330 |
| 3 | Carmel | $1,327 |
| 4 | McCordsville | $1,210 |
| 5 | Lawrence | $1,205 |
| 6 | Avon | $1,190 |
| 7 | Westfield | $1,180 |
| 8 | Fishers | $1,170 |
| 9 | Brownsburg | $1,120 |
| 10 | Sellersburg | $1,100 |
| 11 | Granger | $1,070 |
| 12 | Noblesville | $1,050 |
| 13 | Columbus | $1,045 |
| 14 | Munster | $1,040 |
| 15 | Plainfield | $1,030 |
Nearby cities — studio rent
Considering nearby alternatives? 4 of these cities have cheaper studio rents than Franklin.
| City | Distance | Studio rent | vs Franklin |
|---|---|---|---|
| Greenwood, IN | 11.7 mi | $1,015 | +$95 (+10%) |
| Beech Grove, IN | 17.1 mi | $890 | $-30 (-3%) |
| Shelbyville, IN | 18.9 mi | $890 | $-30 (-3%) |
| Columbus, IN | 21.3 mi | $1,045 | +$125 (+14%) |
| Indianapolis, IN | 23.1 mi | $1,003 | +$83 (+9%) |
| Speedway, IN | 26.6 mi | $890 | $-30 (-3%) |
| Plainfield, IN | 28.2 mi | $1,030 | +$110 (+12%) |
| Lawrence, IN | 28.5 mi | $1,205 | +$285 (+31%) |
| Greenfield, IN | 29.4 mi | $890 | $-30 (-3%) |
| McCordsville, IN | 30.2 mi | $1,210 | +$290 (+32%) |
| Avon, IN | 31.9 mi | $1,190 | +$270 (+29%) |
| Fishers, IN | 33.9 mi | $1,170 | +$250 (+27%) |
Studio rent in Franklin — common questions
How much is a studio apartment in Franklin?
As of July 2026, the median studio apartment rent in Franklin, Indiana is $920 per month. This is +49% below the citywide median of $1,808.
What income do you need to afford a studio in Franklin?
Using the standard 30% rent-to-income rule, you would need an annual income of about $36,800 ($3,067/month gross), which works out to roughly $17.69/hour at a full-time job.
Is Franklin expensive for a studio compared to the rest of the US?
Franklin's studio median of $920 is +29% below the national studio median of $1,290. It ranks in the 21th percentile of US cities tracked.
How does Franklin rank for studio rent in Indiana?
Among the 63 cities in Indiana with studio data, Franklin ranks #36 from cheapest to most expensive.
Are there cheaper studio options near Franklin?
Yes — nearby cities with cheaper studio rents include Beech Grove ($890), Shelbyville ($890), Speedway ($890).