3 Apartments under 700 for rent in Franklin, TN

Last updated November 24 at 2:29am UTC
Results within 10 miles of Franklin, TN
Results within 20 miles of Franklin, TN
914D Ewing Blvd.
Murfreesboro
Murfreesboro, TN
Updated November 21 at 9:57am UTC
1 Bedroom
$625
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November 2017 Franklin Rent Report

Welcome to the November 2017 Franklin Rent Report. Franklin rents remained steady over the past month. In this report, we'll evaluate trends in the Franklin rental market, including comparisons to similar cities nationwide.

View full Franklin Rent Report
Rent Report
Franklin

November 2017 Franklin Rent Report

Welcome to the November 2017 Franklin Rent Report. Franklin rents remained steady over the past month. In this report, we'll evaluate trends in the Franklin rental market, including comparisons to similar cities nationwide.

Franklin rents held steady over the past month

Franklin rents have remained steady over the past month, but are down slightly by 0.3% year-over-year. Currently, median rents in Franklin stand at $1,040 for a one-bedroom apartment and $1,280 for a two-bedroom. Franklin's year-over-year rent growth lags the state average of 1.9%, as well as the national average of 2.7%.

Franklin rents more affordable than many large cities nationwide

As rents have fallen slightly in Franklin, many large cities nationwide have seen prices increase, in some cases substantially. Franklin is also more affordable than most large cities across the country.

  • Franklin's median two-bedroom rent of $1,280 is above the national average of $1,160. Nationwide, rents have grown by 2.7% over the past year compared to the 0.3% decline in Franklin.
  • While rents in Franklin fell slightly over the past year, many cities nationwide saw increases, including Seattle (+4.2%), Phoenix (+4.1%), and Dallas (+2.6%).
  • Renters will find more reasonable prices in Franklin than most large cities. For example, San Francisco has a median 2BR rent of $3,070, which is more than twice the price in Franklin.

For more information check out our national report. You can also access our full data for cities and counties across the U.S. at this link.

Methodology - Recent Updates:

Data from private listing sites, including our own, tends to skew toward luxury apartments, which introduces sample bias when estimates are calculated directly from these listings. To address these limitations, we’ve recently made major updates to our methodology, which we believe have greatly improved the accuracy and reliability of our estimates.

Read more about our new methodology below, or see a more detailed post here.

Methodology:

Apartment List is committed to making our rent estimates the best and most accurate available. To do this, we start with reliable median rent statistics from the Census Bureau, then extrapolate them forward to the current month using a growth rate calculated from our listing data. In doing so, we use a same-unit analysis similar to Case-Shiller’s approach, comparing only units that are available across both time periods to provide an accurate picture of rent growth in cities across the country.

Our approach corrects for the sample bias inherent in other private sources, producing results that are much closer to statistics published by the Census Bureau and HUD. Our methodology also allows us to construct a picture of rent growth over an extended period of time, with estimates that are updated each month.

Read more about our methodology here.

About Rent Reports:

Apartment List publishes monthly reports on rental trends for hundreds of cities across the U.S. We intend these reports to be a source of reliable information that help renters and policymakers make sound decisions, and we invest significant time and effort in gathering and analyzing rent data. Our work is covered regularly by journalists across the country.

We are continuously working to improve our methodology and data, with the goal of providing renters with the information that they need to make the best decisions.