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Affordable apartments in Franklin, Indiana

7 income-restricted buildings tracked here, drawn from HUD's LIHTC, Section 8, Section 202, and Section 811 datasets. Map, eligibility tiers, and Fair Market Rent below.

5 lihtc2 section 8

Buildings

TRADITIONS APTS

LIHTC
1600 TRADITIONS CT, FRANKLIN, IN, 46131
Income-restricted units
124 of 124
Year placed in service
1996
Bedroom mix
64 2BR · 30 3BR · 30 4+BR

Estimated total housing cost: $1,430 rent + $157 utilities = $1,587/mo

Contact property management for current availability. Waitlists may apply.

FRANKLIN PLACE APTS

LIHTC
1721 FRANKLIN PL CT, FRANKLIN, IN, 46131
Income-restricted units
120 of 120
Year placed in service
2000
Bedroom mix
24 1BR · 60 2BR · 36 3BR

Estimated total housing cost: $1,430 rent + $157 utilities = $1,587/mo

Contact property management for current availability. Waitlists may apply.

FRANKLIN COVE

Section 8
2015 FRANKLIN COVE CT, Franklin, IN, 46131
Income-restricted units
108 of 108
Year placed in service
Not reported

Estimated total housing cost: $1,430 rent + $157 utilities = $1,587/mo

Contact property management for current availability. Waitlists may apply.

NORTHWOOD APARTMENTS FRANKLIN

Section 8
2018 Cedar Lane, Franklin, IN, 46131
Income-restricted units
100 of 100
Year placed in service
Not reported

Estimated total housing cost: $1,430 rent + $157 utilities = $1,587/mo

Contact property management for current availability. Waitlists may apply.

LAKEVIEW APTS

LIHTC
1280 N LAKEVIEW CIR, FRANKLIN, IN, 46131
Income-restricted units
70 of 160
Year placed in service
1992
Bedroom mix
64 1BR · 96 2BR

Estimated total housing cost: $1,430 rent + $157 utilities = $1,587/mo

Contact property management for current availability. Waitlists may apply.

LAKEVIEW APTS PHASE II

LIHTC
1800 LAKESIDE DR, FRANKLIN, IN, 46131
Income-restricted units
64 of 64
Year placed in service
1995
Bedroom mix
16 1BR · 44 2BR · 4 3BR

Estimated total housing cost: $1,430 rent + $157 utilities = $1,587/mo

Contact property management for current availability. Waitlists may apply.

FRANKLIN GREENS VILLAGE

LIHTC
UPPER SHELBVILLE RD, FRANKLIN, IN
Income-restricted units
Not reported of 74
Year placed in service
8888

Estimated total housing cost: $1,430 rent + $157 utilities = $1,587/mo

Contact property management for current availability. Waitlists may apply.

Map

Each pin is one income-restricted building. Color-coded by program. Click a pin for details.

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Energy costs in Indiana

Residential electricity in Indiana runs about 16.63¢/kWh, with a typical monthly residential electric bill near $157. Natural gas runs about $16.19/Mcf. Add this to rent when you compare buildings; it can shift total monthly housing cost by 10–20%.

Source: U.S. Energy Information Administration, retail-sales (electricity) and natural gas residential pricing series, 12-month rolling average.

Check your affordability tier

Enter your annual household income, household size, and zip code. We’ll show which HUD AMI tier you qualify for and what Fair Market Rent looks like in your area.

Fair Market Rent for 46131

Zip-level (SAFMR)
BedroomsLocal FMRNational median
Studio$1,090n/a
1 bedroom$1,230n/a
2 bedroom$1,430$1,502
3 bedroom$1,850n/a
4 bedroom$2,270n/a

Fair Market Rent is HUD’s annual benchmark for the cost of rental housing in a given area. Source label: hud_safmr.

HUD income limits : Johnson County, IN

Indianapolis-Carmel-Greenwood, IN. FY2025. Area median income: $110,700.

Household size30% AMI50% AMI80% AMI
1 person$23,250$38,750$62,000
2 people$26,600$44,300$70,850
3 people$29,900$49,850$79,700
4 people$33,200$55,350$88,550
5 people$37,650$59,800$95,650
6 people$43,150$64,250$102,750
7 people$48,650$68,650$109,850
8 people$54,150$73,100$116,900

HUD calculates income limits per household size relative to the area’s median family income. Properties may serve renters in any combination of these tiers; eligibility is determined per program.

Affordable rentals in nearby Indiana cities

See all affordable-rental cities in Indiana

About this listing. Buildings shown serve income-restricted households across HUD program tiers. We do not show vacancy or pricing for individual units. Always contact the property directly for current availability; many income-restricted buildings maintain waitlists measured in months or years.

See also: Franklin cost-of-living and Fair Market Rent overview