IMT Cool Springs
101 Gillespie Dr,
Franklin, TN 37067
1-3 Beds | $1,760 - $2,365
Rental Market Trends in Franklin, TN
What is the average rent in Franklin, TN?
$1,757/month
Average Rent
790 Sq Ft
Average Apartment Size
+1.1%
Increase in the Last Year
As of January 2025, the average rent in Franklin, TN is $1,757 per month. For comparison, the national average rent price in the US is currently $1,554/month, which means Franklin rent prices are 13% higher than the national average. When you rent an apartment in Franklin, you can expect to pay about $1,694 per month for a studio, $1,757 for a one-bedroom apartment, and around $2,115 for a two-bedroom apartment. If you opt for a three-bedroom rental, you could pay $3,018 or more.
Floor Plan Type
Average Rent
Average Sq Ft
Floor Plan Type
Average Rent
Average Sq Ft
Floor Plan Type
Average Rent
Average Sq Ft
Floor Plan Type
Average Rent
Average Sq Ft
How much has average rent changed in Franklin, TN?
In the past year, rent has increased by 1.1%, which averages out to $20 more per month.
Market Trends Over Time
The chart below compares average rent prices to the previous year during the same time period.
Last Updated January 2025
Legend
2024
2025
Rent Ranges in Franklin, TN
Last Updated January 2025
$1,501 - $2,000
Most rental prices fall within this range
Percentage*
Rent Range
0%
Below $700/month
3%
$700 - $1,000/month
8%
$1,001 - $1,500/month
54%
$1,501 - $2,000/month
36%
Above $2,000/month
Rent by Neighborhood
Last Updated Today
What are the most affordable neighborhoods in Franklin?
Based on current rent prices, Downtown Franklin is the most affordable neighborhood in Franklin.
Neighborhood
Average Rent
Average Sq Ft
What are the most expensive neighborhoods in Franklin?
Based on current rent prices, Downtown Franklin is the most expensive neighborhood in Franklin.
Neighborhood
Average Rent
Average Sq Ft
Which Franklin neighborhoods have the most rentals available?
The neighborhood in Franklin with the most apartments available is Downtown Franklin .
Neighborhood
Average Rent
Average Sq Ft
What salary do I need to live comfortably in Franklin, TN?
Because the average rent in Franklin is $1,757, you’ll want to make about $5,856 per month or $70,272 per year. The general guideline is to pay no more than 30 percent of your monthly income on rent. However, you’ll want to consider additional factors, such as your monthly bills and other expenses. Use our rent affordability calculator to help determine how much to budget for rent.
How does Franklin, TN compare to other nearby cities and neighborhoods?
Use the tool below to compare Franklin, TN to other nearby cities and neighborhoods. The Apartments.com neighborhood guides provide you with insight into the area’s transportation, things to do, and more.
Studio
-
-
One Bedroom
$1,731/month
$1,731/month
Two Bedroom
$2,066/month
$2,066/month
Three Bedroom
$2,850/month
$2,850/month
Nearby City Rent Trends
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Learn More with Helpful Articles
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Methodology
† Rent data is provided by CoStar Group’s Market Trend reports. As the industry leader in commercial real estate information, analytics, and news, CoStar conducts extensive research to produce and maintain a comprehensive database of commercial real estate information. We combine this data with public record to provide the most up-to-date rental information available.
* Percentages may not total 100 due to rounding.