IMT Cool Springs
101 Gillespie Dr,
Franklin, TN 37067
1-3 Beds | $1,570 - $2,670
Rental Market Trends in Franklin, TN
What is the average rent in Franklin, TN?
$1,763/month
Average Rent
784 Sq Ft
Average Apartment Size
-1.4%
Decrease in the Last Year
As of June 2025, the average rent in Franklin, TN is $1,763 per month. For comparison, the national average rent price in the US is currently $1,627/month, which means Franklin rent prices are 8% higher than the national average. When you rent an apartment in Franklin, you can expect to pay about $1,720 per month for a studio, $1,763 for a one-bedroom apartment, and around $2,194 for a two-bedroom apartment. If you opt for a three-bedroom rental, you could pay $3,086 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 decreased by 1.4%, which averages out to $23 less 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 2025
Legend
2024
2025
Rent Ranges in Franklin, TN
Last Updated June 2025
Above $2,000
Most rental prices fall within this range
Percentage*
Rent Range
0%
Below $700/month
2%
$700 - $1,000/month
8%
$1,001 - $1,500/month
40%
$1,501 - $2,000/month
50%
Above $2,000/month
Rent by Neighborhood
Last Updated Today
What are the most affordable neighborhoods in Franklin?
Based on current rent prices, Liberty Hills, Viera Cool Springs and Idlewood are the most affordable neighborhoods in Franklin.
Neighborhood
Average Rent
Average Sq Ft
What are the most expensive neighborhoods in Franklin?
Based on current rent prices, Maplewood, Berry Farms and Lockwood Glen are the most expensive neighborhoods in Franklin.
Neighborhood
Average Rent
Average Sq Ft
Which Franklin neighborhoods have the most rentals available?
The neighborhoods in Franklin with the most apartments available are Downtown Franklin, Alara at Cool Springs and Liberty Hills .
Neighborhood
Average Rent
Average Sq Ft
What salary do I need to live comfortably in Franklin, TN?
Because the average rent in Franklin is $1,763, you’ll want to make about $5,876 per month or $70,512 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.
Cost of Living
The cost of living in Franklin, TN is 1.3% lower than the national average. Generally, housing in Franklin is 1.4% more expensive than the national average, with rent falling between $1,720 - $3,086. You can expect to pay 0.5% less for groceries, 1.8% less for utilities, and 9.2% less for transportation.
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
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One Bedroom
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Two Bedroom
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Three Bedroom
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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 2025.
* Percentages may not total 100 due to rounding.