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Apartments for Rent in Franklin, MI

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What to Know About

Life in Franklin & Beyond

Franklin shares many of the great qualities that make Michigan a desirable place to live.

Michigan is bordered by four Great Lakes, making it a popular destination for boating and water activities. Michigan is also home to many national parks, including Isle Royale National Park and Sleeping Bear Dunes National Lakeshore. Explore the state's rich heritage through visits to renowned museums such as the Henry Ford Museum and the Michigan Historical Museum or get an excellent education at top universities like Michigan State University and the University of Michigan. In addition, Michigan boasts a robust economy in the manufacturing, technology, and tourism industries.

The state provides numerous opportunities for thrills and excitement. From soaking in the stunning views of the Great Lakes to hitting the ski slopes in the nearby mountains, outdoor enthusiasts will find plenty to love. Additionally, Michigan is home to several sports teams, including the Detroit Lions (NFL), Detroit Red Wings (NHL), Detroit Tigers (MLB), and Detroit Pistons (NBA). Explore famous attractions like Mackinac Island, the Detroit Institute of Arts, and scenic Mackinaw City.

Michigan offers a high quality of life, a strong economy, and a welcoming community, making it a great place to live.

Rental Market Trends

Franklin, MI

As of November 2026, Franklin's rental market is balanced, with rentals spending about 27 days on the market, slower than in Michigan (24), and rents up 2.5% over the past year. Franklin's average rent is 36.1% ($567) higher than the Michigan average of $1,569 and 4.9% ($100) higher than the U.S. average of $2,036.

Average Rent
$2,136
Monthly ChangeMonth Over Month Change
Increased0.32% ($7)
Yearly ChangeYear Over Year Change
Increased2.5% ($51)
Days on Market
27
Unit Type Average Rent Monthly ChangeMonth Over Month Change Yearly ChangeYear Over Year Change
1 Bed $1,598 Increased0.09% ($1) Increased2.2% ($35)
2 Beds $2,157 Decreased0.07% ($2) Increased3.1% ($65)
3 Beds $2,513 Increased0.39% ($10) Increased0.7% ($18)
Nearby Cities Average Rent Avg. Rent vs. FranklinAverage Rent vs. Franklin Days on Market
Southfield $1,711 Decreased19.9% ($425) 27 days
Birmingham $2,632 Increased23.2% ($496) 27 days
Bloomfield Hills $2,487 Increased16.4% ($351) 27 days
Farmington Hills $1,849 Decreased13.4% ($287) 24 days
Berkley $1,677 Decreased21.5% ($459) 26 days
Based on rentals advertised on RentalSource in and around Franklin.
Frequently Asked Questions
Franklin Rental Market FAQs

Explore rental prices, market conditions, and affordability in Franklin, MI.

The average rent in Franklin, MI is about $2,136 per month.
In Franklin, the average rent is about $1,598 per month for a 1-bedroom apartment, about $2,157 for a 2-bedroom apartment and about $2,513 for a 3-bedroom apartment.
The average rent in Franklin is 4.9% ($100) higher than the national average of $2,036 per month.
The rental market in Franklin, MI is currently balanced, with rentals spending about 27 days on the market, slower than in Michigan (24), and rents up 2.5% over the past year.
Based on the current averages, a household would need an annual income of about $86,300 to comfortably afford a 2-bedroom apartment in Franklin.
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