Low Income Apartments and Affordable Housing For Rent in Franklin County, IN

Discover affordable housing in Franklin County where there are 14+ housing opportunities based on income and household needs like accessible units for seniors or persons with disabilities. Find and apply to these low income apartments now.

Laurel Park Apartments

124 S Clay St, Laurel, Indiana 47024

Lammers Pike

68 Chateau Blvd, Batesville, Indiana 47006

Valley House Flats

451 Progress Street, Brookville, Indiana 47012

Mcnair Manor

201 Country Club Dr, Batesville, Indiana 47006

Laurel Park Apartments

Clay and Pearl Sts, Laurel, Indiana 47024

Canterbury House Apartments - Batesville

27 Arlington Dr, Batesville, Indiana 47006

Whitewater Place Apartments

296 Webers Ln, Brookville, Indiana 47012

Romweber Flats

322 South St, Batesville, Indiana 47006

Fairbrook Manor

1301 Fairfield Ave, Brookville, Indiana 47012

Riverfront Apartments Olynger Management

1390 Fairfield Ave, Brookville, Indiana 47012

Heritage Haus

333 South Mulberry Blvd, Batesville, Indiana

Golden Villa Inc

32 W. Boehringer Street, Batesville, Indiana

Meadowbrook Apartments

3005 Pearl St, Oldenburg, Indiana

Brookville Lake Senior Housing

11051 State Road 101, Brookville, Indiana 47012

calendar_today Opened: Mar 4
Open Until Further Notice

Reported On March 4th, 2024 by Ayat Elkarib

The Hourly Wage Needed to Afford A Safe, Modest 2 Bed Apartment In Franklin County, Indiana
$17.78/hour
$10.53 (+145%) more than Indiana minimum wage and $10.53 (+145%) more than the Federal minimum wage.
Learn More About Franklin County, Indiana Affordable Housing ↓

What HUD offices serve Franklin County, Indiana?

Public Housing Agencies operate federally assisted affordable housing programs at local levels on behalf of HUD. Notably, housing agencies are responsible for managing Section 8 Housing Choice Voucher, Public Housing, and Project-Based Voucher waiting lists within their jurisdiction.

Operates the Section 8 Housing Choice Voucher (HCV) programs for Franklin County, Indiana.
Operates the Section 8 Housing Choice Voucher (HCV), Family Self-Sufficiency programs for Franklin County, Indiana.

Go to the Indiana Public Housing and Low-Income Apartments Waiting Lists page for openings near Franklin County.

How many renters live in Franklin County, Indiana?

The County of Franklin County has 22,850 people living in 8,976 households.

There are 3,477 renters living in 1,672 renter households in this County. Renters make up 15.22 percent of the population living in Franklin County.

What is the rental market like in Franklin County, Indiana?

There are an estimated 9,687 housing units in the Franklin County area. Of these, 1,793 units are rental homes, making up 19 percent of the housing market. For every renter household in Franklin County, Indiana, there are 1 rental units.

What is the vacancy rate for rentals in Franklin County?

The rental vacancy rate in Franklin County is 6 percent. This is a lower than average vacancy rate. When rental vacancy rates are low there are fewer available units. Rents tend to be higher as more people compete for scarce housing.

How many rental units are in Franklin County for each bedroom size?

Occupied Rental Units by Size in Franklin County
Studio One-Bedroom Two-Bedroom Three-Bedroom Four+ Bedrooms
0 579 486 460 116
Occupied Rental Units by Size in Franklin County

A large number of apartments in Franklin County have two or fewer bedrooms. Seniors and young professionals especially may have more success finding an apartment that meets their needs.

How many renter households in Franklin County are overburdened by housing costs?

Among renter households in this market, 27 percent have housing cost burden. Further, 15 percent of households are extremely rent overburdened. When renters pay too much for their housing, it leaves little money for other necessities like food, clothes, or medicine.

The federal government says that renters are cost-burdened if they pay more than a third of their monthly income for rent and utilities.

How Much Is Rent in Franklin County

Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $636 to $1,330. FMRs are updated annually by HUD for every city and county nationwide.

Bed Size 2024 Fair Market Rents
Studio $636
One BR $715
Two BR $939
Three BR $1,292
Four BR $1,330
2024 Fair Market Rents in Franklin County, Indiana

How many units are rented at Fair Market Rent (FMR) in Franklin County?

Renters with a Section 8 Housing Choice Voucher must select a home that is at or below the area’s Fair Market Rent. Markets with a large share of units above FMR tend to have longer search times to find a qualified unit, while those with a large share of units below FMR tend to have more choices and shorter search times. The share below FMR can vary by size of unit, as shown in the table below.

These are the approximate number of units renting below the FMR in this market:

Unit Size Count of Units Below FMR Percentage of Total Units Below FMR
One BR 481 83 percent
Two BR 346 71 percent
Rental Units Below FMR in Franklin County, Indiana

How many affordable rental units are in Franklin County?

There are a variety of federal affordable housing programs serving households in Franklin County, Indiana including the following:

Federal Program Unit Count
Low Income Housing Tax Credit 129
Section 8 Project-Based Rental Assistance 1
USDA Section 515 Rural Rental Housing 200
Tracked Units by Federal Program in Franklin County, Indiana

Rental units may be funded in part by multiple federal programs.

Income Based Apartments in Franklin County, Indiana

Franklin County features 316 income based apartments. Tenants of income based apartments typically pay no more than 30% of their income towards rent and utilities.

Low Rent Apartments in Franklin County, Indiana

There are 188 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Franklin County.

Housing Choice Vouchers in Franklin County, Indiana

On average, Section 8 Housing Choice vouchers pay Franklin County landlords $500 per month towards rent. The average voucher holder contributes $300 towards rent in Franklin County.

The maximum amount a voucher would pay on behalf of a low-income tenant in Franklin County, Indiana for a two-bedroom apartment is between $845 and $1,033.

Sourced from federal housing data and AffordableHousingOnline.com research.