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South Franklin apartments for rent - Indianapolis, IN

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Average Rent in Indianapolis, IN

Avg. RentAnnual Change
Indianapolis Studio - $1,169-2%
Indianapolis 1 Bed - $1,221+4%
Indianapolis 2 Beds - $1,409+5%
Last updated 6/17/2024

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Local Guide

See what Indianapolis, IN has to offer.

Local Reviews

Park is right in front of the house. And lots of greens. It's very quite and safe here. Everyone is friendly. Not far from work.

Demographics

Education

High School

30%

Associate's

25%

Bachelor's

34%

Master's

10%

Doctorate

1%

Family Size

2 people

49%

3 people

19%

4 people

20%

5 people

7%

6+ people

6%

Household Income

0-50k

21%

50-100k

36%

100-150k

26%

150-200k

13%

200k+

4%

Age

0-10

17%

10-20

12%

20-45

34%

45-65

26%

65+

11%

Affordability

Percentage: 2/52/5

Renters gave this area a 2 out of 5 for affordability

Last updated 6/17/2024

*The rent information included in this summary is based on a median calculation of multifamily rental property inventory on Apartment Guide and Rent.com over the past 12-months and is for illustrative purposes only. This information does not constitute a pricing guarantee or financial advice related to the rental market.

Rent Trends

Average rent in South Franklin, Indianapolis, IN

In Indianapolis, IN, as of 2024, the average rent for apartments ranges from $1,169 to $1,409. Specifically, the average rent for a studio apartment in South Franklin, Indianapolis, IN is $1,169. For those seeking a 1-bedroom apartments, the average rent is $1,221. And for a 2-bedroom apartment, renters can expect to pay an average of $1,409.

Annual Rent Change Over the Past 12 Months

Studio

-2%

Changed from $1,193 to $1,169
1 Bed

+4%

Changed from $1,174 to $1,221
2 Beds

+5%

Changed from $1,342 to $1,409
Last updated 6/17/2024

Cost of Living

Compared to State Average

1.3%

Compared to National Average

7.3%

The cost of living in South Franklin, Indianapolis, IN is 1.3% lower than the state average and 7.3% lower than the national average. South Franklin, Indianapolis, IN housing is 20.9% less expensive than the U.S average, while utilities are about 0.2% less pricey. When it comes to basic necessities such as food and clothing, groceries are around 0.2% less in South Franklin, Indianapolis, IN than in the rest of the country.

Healthcare services such as doctor check-ups and dentistry cost 10.9% less here compared to the U.S. average.
Cost of Living in South Franklin, Indianapolis, INCompared to State AverageCompared to National Average
Housing
0.3%
20.9%
Utilities
2.8%
0.2%
Food
1.1%
0.2%
Transportation
0.2%
4.4%
Healthcare
5.4%
10.9%

Compare Other Cities

CityStudio Avg RentAnnual Change
Fishers$1,305+8%
Carmel$1,235+12%
Bloomington$1,229+6%
Indianapolis$1,169-2%
Whitestown$1,163--
Brownsburg$1,160-6%
Noblesville$1,097-1%
Westfield$1,085-1%
Greenwood$926-19%
Lebanon$850--
Columbus$730+5%
Seymour$700-3%
City1 Bed Avg RentAnnual Change
Whitestown$1,730-4%
Carmel$1,615+4%
Westfield$1,506+6%
Zionsville$1,462-3%
Noblesville$1,349+2%
Avon$1,280-2%
Bloomington$1,252+6%
Brownsburg$1,235-18%
Indianapolis$1,221+4%
Columbus$1,201+1%
Fishers$1,180-25%
Greenwood$1,132-9%
Camby$1,125+91%
Greenfield$1,059-6%
Beech Grove$1,052+5%
Lebanon$975+17%
Franklin$960+19%
Seymour$960+13%
Plainfield$870+4%
Anderson$779+5%
City2 Beds Avg RentAnnual Change
Carmel$2,034+6%
Whitestown$1,830-1%
Westfield$1,794+6%
Zionsville$1,735-7%
Camby$1,625+132%
Avon$1,566-2%
Bloomington$1,500+12%
Brownsburg$1,434-20%
Fishers$1,427-31%
Indianapolis$1,409+5%
Noblesville$1,381-3%
Columbus$1,375+6%
Greenwood$1,357-13%
Greenfield$1,215-6%
Plainfield$1,210+5%
Franklin$1,160+23%
Beech Grove$1,159+3%
Seymour$1,100+7%
Lebanon$1,089+10%
Anderson$962+12%

Compare Neighborhoods

Chapel Hill - Ben Davis

$574

1 Bed Avg. Rent

Martindale - Brightwood

$675

1 Bed Avg. Rent

Crown Hill

$715

1 Bed Avg. Rent

What are the most affordable neighborhoods in Indianapolis, IN?

For renters in Indianapolis seeking more affordable options, the neighborhoods to watch are Chapel Hill - Ben Davis, Martindale - Brightwood, and Crown Hill, where average rents for 1-bedroom apartments stand at $574, $675, and $715 respectively. Additional areas offering value are Irvington and Near Southeast, where the rents are $729 and $729, a favorable comparison to Indianapolis's overall 1-bedroom average of $1,221.

What are the most expensive neighborhoods in Indianapolis, IN?

In Indianapolis, the neighborhoods commanding the highest rents are Meridian Kessler, Broad Ripple Village, and Fountain Square. A 1-bedroom apartment in Meridian Kessler averages at $2,020, in Broad Ripple Village it averages $1,749, and in Fountain Square, the average is $1,633. For additional high-end living options, Fletcher Place offers 1-bedroom apartments at $1,565, and I65-South Emerson at $1,500. These rates compare to the overall average rent of $1,221 for a 1-bedroom apartment in Indianapolis, highlighting the premium nature of these specific neighborhoods.

What are the most popular neighborhoods in Indianapolis, IN?

In Indianapolis, the most sought-after neighborhoods for renters include Martindale - Brightwood, Fall Creek Place, and Near Eastside. In Martindale - Brightwood, the average rent for a 1-bedroom apartment is $675. Fall Creek Place sees average rents of $1,350 for a 1-bedroom unit. Near Eastside offers similar appeal with 1-bedroom apartments averaging $997. For those seeking other popular areas, Near Northside presents 1-bedroom apartments at $1,407, and Mass Ave at $1,330. These prices are set against the backdrop of the city-wide average of $1,221 for a 1-bedroom apartment in Indianapolis, underscoring the popularity of these particular neighborhoods.

NeighborhoodStudio Avg RentAnnual Change
Mass Ave$1,651+36%
North Meridian$1,450-3%
Meridian Kessler$1,444--
Fletcher Place$1,440+7%
Broad Ripple Village$1,399-10%
Downtown Indianapolis$1,365+10%
Fountain Square$1,306+26%
I65-South Emerson$1,300--
Garden City$1,287-2%
West Side$1,264+10%
Chapel Hill - Ben Davis$1,259-13%
Fall Creek Place$1,250--
Near Northside$1,229+70%
Mass Avenue$1,200-1%
North Side$1,149+3%
Mapleton - Fall Creek$1,095-8%
College Park$1,095-35%
South Perry$967+5%
South Side$935-17%
Valley Mills$927--
North High School$900--
St. Vincent - Greenbriar$878+19%
Eagledale$853+119%
Near Eastside$838--
East Side$825+10%
Far East Side$825+16%
Crooked Creek$816-6%
South Broad Ripple$799-6%
Chatham Arch$7650%
Old Northside$699-27%
Irvington$675--
Near Westside$650+31%
Crown Hill$550-8%
Neighborhood1 Bed Avg RentAnnual Change
Broad Ripple Village$1,749-5%
Fountain Square$1,633+8%
Fletcher Place$1,565-5%
I65-South Emerson$1,500+63%
Downtown Indianapolis$1,462-7%
Near Northside$1,407+52%
North Side$1,404+2%
North Meridian$1,350+3%
Fall Creek Place$1,350--
Mass Ave$1,330-7%
Indiana Avenue$1,300-19%
Southern Dunes$1,290--
Mapleton - Fall Creek$1,282-2%
College Park$1,275+69%
South Perry$1,253+30%
Mass Avenue$1,225-21%
St. Vincent - Greenbriar$1,190+9%
Chatham Arch$1,1750%
Valley Mills$1,146--
South Side$1,112+6%
Meadows$1,083--
Five Points$1,051+13%
Nora$1,041+6%
Crooked Creek$1,029+20%
Eagledale$1,009+14%
West Side$1,008+5%
Garden City$1,001+3%
Near Eastside$997--
Near Westside$979+98%
Devington$975+12%
Mars Hill$949+19%
Far East Side$945+10%
North High School$931-29%
East Warren$925+6%
East Side$908+4%
South Broad Ripple$894-11%
Christian Park$804--
Old Northside$764-35%
Irvington$729+8%
Near Southeast$729--
Crown Hill$715+2%
Martindale - Brightwood$675-54%
Chapel Hill - Ben Davis$574-22%
Neighborhood2 Beds Avg RentAnnual Change
Downtown Indianapolis$1,867+1%
Near Northside$1,850+80%
Fall Creek Place$1,850--
North Meridian$1,715+7%
North Side$1,588-4%
College Park$1,550-2%
Mapleton - Fall Creek$1,532-7%
St. Vincent - Greenbriar$1,458+11%
Southern Dunes$1,457--
Mass Ave$1,430-23%
Broad Ripple Village$1,361-1%
Indiana Avenue$1,350+6%
Garden City$1,335+7%
South Side$1,300+5%
Meadows$1,296--
North High School$1,285-25%
West Side$1,284+7%
Five Points$1,258+14%
Nora$1,246+9%
Valley Mills$1,244--
South Perry$1,209+7%
Mass Avenue$1,208-43%
East Warren$1,202+9%
Chatham Arch$1,1400%
East Side$1,132+7%
Near Westside$1,112--
Eagledale$1,099+11%
Far East Side$1,096+10%
Crooked Creek$1,093+17%
Mars Hill$1,086+19%
South Broad Ripple$1,049-9%
I65-South Emerson$999-15%
Old Northside$929-42%
Near Eastside$899+20%
Near Southeast$879+26%
Irvington$849+8%
Crown Hill$849+2%
Bosart Brown$750--
Devington$700-27%
Chapel Hill - Ben Davis$627-26%

Transportation

Commute Time

0-15 Mins

19%

15-30 Mins

40%

30-40 Mins

23%

40-60 Mins

13%

60+ Mins

4%

Area Amenities

Top Score

Fine Arts

2.5/5 stars based on undefined reviews

It's just about fine for fine art. An average score.

  1. Few fine art centers per resident
  2. 83% more fine art centers than average
  3. 67% more fine art centers than areas of a similar size

Medical Care

2.5/5 stars based on undefined reviews

Healthcare in South Franklin Indianapolis doesn't tip the scales.

  1. Few medical facilities per resident
  2. 58% more medical facilities than average
  3. 20% more medical facilities than areas of a similar size

Grocery Stores

2/5 stars based on undefined reviews

The food shops around here are few and far between.

  1. Few grocery stores per resident
  2. An average number of grocery stores
  3. A standard number of grocery stores compared to areas of a similar size

Restaurants

2/5 stars based on undefined reviews

South Franklin Indianapolis serves up a dining scene that's only lukewarm.

  1. Few restaurants per resident
  2. Significantly fewer restaurants than average
  3. Far fewer restaurants than areas of a similar size

Coffee

2/5 stars based on undefined reviews

The coffee scene is lukewarm in South Franklin Indianapolis.

  1. Few coffee shops per resident
  2. An average number of coffee shops
  3. A standard number of coffee shops compared to areas of a similar size

Nightlife

2/5 stars based on undefined reviews

You'll need to stock up the mini-bar. South Franklin Indianapolis is running dry.

  1. Few bars and clubs per resident
  2. 31% more bars and clubs than average
  3. Far fewer bars and clubs than areas of a similar size

Parks

2/5 stars based on undefined reviews

Not too many park perks in South Franklin Indianapolis.

  1. Few parks per resident
  2. An average number of parks
  3. A standard number of parks compared to areas of a similar size

Childcare

2/5 stars based on undefined reviews

South Franklin Indianapolis is low on childcare options so get on the waiting list early.

  1. Few daycares per resident
  2. 73% more daycares than average
  3. A standard number of daycares compared to areas of a similar size

Retail Shops

2/5 stars based on undefined reviews

The retail inventory is low in South Franklin Indianapolis.

  1. Few shops per resident
  2. An average number of shops
  3. A standard number of shops compared to areas of a similar size

Health and Fitness

2/5 stars based on undefined reviews

You'll have to workout somewhere else to keep fit.

  1. Few gyms per resident
  2. An average number of gyms
  3. A standard number of gyms compared to areas of a similar size

Pet Services

2/5 stars based on undefined reviews

South Franklin Indianapolis could do with more oppawtunities for pets.

  1. Few pet facilities per resident
  2. 52% more pet facilities than average
  3. 23% more pet facilities than areas of a similar size

Theaters

2/5 stars based on undefined reviews

Hiding in the dressing room? South Franklin Indianapolis has a quiet theater scene.

  1. Few theaters per resident
  2. An average number of theaters
  3. A standard number of theaters compared to areas of a similar size

Amusement Parks

2/5 stars based on undefined reviews

In need of a lift: South Franklin Indianapolis is light on amusement parks.

  1. Few amusement parks per resident
  2. An average number of amusement parks
  3. A standard number of amusement parks compared to areas of a similar size

Hospitals

2/5 stars based on undefined reviews

Be patient when looking for a hospital around here.

  1. Few hospitals per resident
  2. An average number of hospitals
  3. A standard number of hospitals compared to areas of a similar size

Gas Stations

2/5 stars based on undefined reviews

Honk if you see a gas station.

  1. Few gas stations per resident
  2. 40% more gas stations than average
  3. 7% more gas stations than areas of a similar size

Schools

Percentage: 1/51/5

School Score

How satisfied do renters feel with the schools in this area.

Top Schools in South Franklin Indianapolis

Information provided by GreatSchools. To verify school enrollment eligibility, contact the school district directly.

Find Apartments in Nearby Cities

City1 Bed Price2 Beds Price
Greenwood, IN 4.7 miles$1,132$1,357
Indianapolis, IN 10.4 miles$1,221$1,409
Brooklyn, IN 19.5 miles------
Beech Grove, IN 5.6 miles$1,052$1,159
Carmel, IN 23 miles$1,615$2,034
Fishers, IN 21 miles$1,180$1,427
Avon, IN 20.9 miles$1,280$1,566
Indianapolis--Southside, IN 4.5 miles------
Plainfield, IN 19.7 miles$870$1,210
Franklin, IN 11.9 miles$960$1,160