Low Income Apartments and Affordable Housing For Rent in Franklin, OH

Discover affordable housing in Franklin where there are 4+ 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.

Franklin Commons Apartments

962 Franklin Commons Dr, Franklin, Ohio 45005

Franklin Court

276 Victory Ln, Franklin, Ohio 45005

Emerald Edge Apartments

656 E 2nd St, Franklin, Ohio 45005

Sherman Glen

301 Sherman Dr, Franklin, Ohio 45005

The Hourly Wage Needed to Afford A Safe, Modest 2 Bed Apartment In Franklin, Ohio
$22.63/hour
$15.63 (+223%) more than Ohio minimum wage and $15.38 (+212%) more than the Federal minimum wage.
Learn More About Franklin, Ohio Affordable Housing ↓

What HUD offices serve Franklin, Ohio?

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), Public Housing programs for Franklin, Ohio.

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

How many renters live in Franklin, Ohio?

The City of Franklin has 11,672 people living in 4,692 households.

There are 4,214 renters living in 1,894 renter households in this City. Renters make up 36.1 percent of the population living in Franklin.

What is the rental market like in Franklin, Ohio?

There are an estimated 4,974 housing units in the Franklin area. Of these, 1,983 units are rental homes, making up 40 percent of the housing market. For every renter household in Franklin, Ohio, there are 1 rental units.

What is the vacancy rate for rentals in Franklin?

The rental vacancy rate in Franklin is 4 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 for each bedroom size?

Occupied Rental Units by Size in Franklin
Studio One-Bedroom Two-Bedroom Three-Bedroom Four+ Bedrooms
84 446 939 357 43
Occupied Rental Units by Size in Franklin

A large number of apartments in Franklin 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 are overburdened by housing costs?

Among renter households in this market, 38 percent have housing cost burden. Further, 20 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

Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $810 to $1,766. FMRs are updated annually by HUD for every city and county nationwide.

Bed Size 2024 Fair Market Rents
Studio $810
One BR $919
Two BR $1,195
Three BR $1,588
Four BR $1,766
2024 Fair Market Rents in Franklin, Ohio

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

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
Studio 73 87 percent
One BR 344 77 percent
Two BR 705 75 percent
Rental Units Below FMR in Franklin, Ohio

How many affordable rental units are in Franklin?

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

Federal Program Unit Count
Low Income Housing Tax Credit 344
Public Housing 43
Section 8 Project-Based Rental Assistance 267
Section 202 Supportive Housing for the Elderly 53
Tracked Units by Federal Program in Franklin, Ohio

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

Income Based Apartments in Franklin, Ohio

Franklin features 262 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, Ohio

There are 170 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Franklin.

Housing Choice Vouchers in Franklin, Ohio

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

The maximum amount a voucher would pay on behalf of a low-income tenant in Franklin, Ohio for a two-bedroom apartment is between $1,076 and $1,315.

Sourced from federal housing data and AffordableHousingOnline.com research.