Rent in Franklin, IN
A 2-bedroom in Franklin, IN (ZIP 46131) typically rents for about $1,238 a month, with a range of $975–$1,500. Owner-occupied homes in Johnson County pay about 0.71% of their value a year in property tax, and the 30-year fixed mortgage rate averaged 7.32% in the week of Oct 22, 2026.
Rent by bedrooms
| Size | Typical | Range across ZIPs | ZIPs |
|---|---|---|---|
| Studio | $1,080 | $999–$1,160 | 1 |
| 1 bed | $1,061 | $822–$1,300 | 1 |
| 2 beds | $1,238 | $975–$1,500 | 1 |
| 3 beds | $1,711 | $1,481–$1,940 | 1 |
| 4 beds | $2,136 | $1,901–$2,370 | 1 |
Typical = median of each ZIP's best guess. Gross rent (rent plus tenant-paid utilities). Sources: HUD Small Area Fair Market Rents (Oct 1, 2026) and Census ACS 5-year median gross rent (Dec 31, 2024).
Franklin ZIP codes
2 bedsFrequently asked questions
- What is the average rent for a 2-bedroom in Franklin, IN?
- About $1,238 a month: the median of the typical rents in 1 ZIP code, which range from $975–$1,500. Figures are gross rent (rent plus tenant-paid utilities).
- What is the average rent for a 1-bedroom in Franklin, IN?
- About $1,061 a month: the median of the typical rents in 1 ZIP code, which range from $822–$1,300. Figures are gross rent (rent plus tenant-paid utilities).
- What is the average rent for a 3-bedroom in Franklin, IN?
- About $1,711 a month: the median of the typical rents in 1 ZIP code, which range from $1,481–$1,940. Figures are gross rent (rent plus tenant-paid utilities).
- What is the average rent for a studio in Franklin, IN?
- About $1,080 a month: the median of the typical rents in 1 ZIP code, which range from $999–$1,160. Figures are gross rent (rent plus tenant-paid utilities).
- What is the average rent for a 4-bedroom in Franklin, IN?
- About $2,136 a month: the median of the typical rents in 1 ZIP code, which range from $1,901–$2,370. Figures are gross rent (rent plus tenant-paid utilities).
- What is the property tax rate in Franklin, IN?
- Owner-occupied homes in Johnson County pay a typical 0.71% of their value a year (Census ACS, median taxes paid ÷ median home value, Dec 31, 2024). Investors often pay more after a purchase: the home is reassessed at the sale price and there is no homestead exemption.
- What is the current 30-year mortgage rate?
- The 30-year fixed rate averaged 7.32% in the week of Oct 22, 2026 (Freddie Mac PMMS via FRED). It's a national average for owner-occupied loans; investment property loans usually cost more.
- Where do these Franklin rent figures come from?
- HUD Small Area Fair Market Rents (Oct 1, 2026) and Census ACS 5-year median gross rent (Dec 31, 2024).