Legacy Place Apartments
845 W Madison St,
Franklin, KY 42134
$850 - $999
1-2 Beds
Rental Market Trends in Franklin, KY
What is the average rent in Franklin, KY?
$918/month
Average Rent
729 Sq Ft
Average Apartment Size
+1.9%
Increase in the Last Year
Franklin, KY Rental Market Overview
The average rent in Franklin, KY is $918 per month. This is 44% lower than the national average rent of $1,644/month, making renting in Franklin more affordable than most cities in the US.
- Studio apartments in Franklin average $411 per month.
- One-bedroom apartments in Franklin average $918 per month.
- Two-bedroom apartments in Franklin average $1,067 per month.
- Three-bedroom apartments in Franklin average $1,416 or more per month.
Data Updated: June, 2026
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, KY?
In the past year, rent has increased by 1.9%, which averages out to $18 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 June 2026
Legend
2025
2026
Rent Ranges in Franklin, KY
Last Updated June 2026
$1,001 - $1,500
Most rental prices fall within this range
Percentage*
Rent Range
12%
Below $700/month
25%
$700 - $1,000/month
50%
$1,001 - $1,500/month
12%
$1,501 - $2,000/month
0%
Above $2,000/month
What salary do I need to live comfortably in Franklin, KY?
Because the average rent in Franklin is $918, you’ll want to make about $3,060 per month or $36,720 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, KY compare to other nearby cities and neighborhoods?
Use the tool below to compare Franklin, KY 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.
Nearby City Rent Trends
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Methodology
† Our analysis of utilities, groceries, transportation, healthcare, home prices, and other goods and services is sourced from the Cost of Living Index, a respected benchmark published by the Council for Community and Economic Research (C2ER) that provides a thorough overview of living expenses across different regions.
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.
Consumer goods, services, and home prices are sourced from the Cost of Living Index published by the Council for Community and Economic Research (C2ER). The data on this page is updated quarterly. It was last published in June 2026.
Demographic information comes from Neustar and combines detailed address data with U.S. Census and American Community Survey statistics to produce reliable local estimates.
* Percentages may not total 100 due to rounding.