Cheap Apartments for Rent in Spencer, IN from $500 (45 Rentals)

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Search the lowest-cost Apartments available for rent right now in Spencer.

What Does “Rent Burdened” Mean? How Much Rent Is Too Much

Learn the official definition (spending 30% or more of your gross income on housing) and how to calculate your exact rent-to-income ratio. This guide offers expert tips on factoring in total housing costs (including utilities and fees) and budgeting accurately to avoid unnecessary financial strain.

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Your Guide to Co-Signers: The Risks, Rewards, and Everything in Between

Thinking about getting a co-signer for your rental application? We break down what a co-signer is, the potential benefits, and the serious risks for both parties. Find out if it's the right choice for you.

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Cash or credit? Understanding the Importance of Credit Score in Real Estate and Renting

Discover how your credit score impacts your ability to lease or buy a home. Learn how credit scores are determined, how to check yours, and strategies to improve it for real estate success.

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7 Ten
Rent Specials
$1,225 - $2,060
Total Monthly Price

Total Monthly Price

Base Rent
$1,225 - $2,060
Total Monthly Price
$1,225 - $2,060
1 to 2 Bedroom Apartments Available Now

7 Ten

710 N College AveBloomington, IN 47404
Student Housing
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  • Utilities Included
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Acadia Court
Studio to 2 Bedroom Apartments

Acadia Court

2995 S Acadia CtBloomington, IN 47401
Corporate Housing
  • Utilities Included
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Cedargate
Studio to 2 Bedroom Apartments

Cedargate

3073 E Amy LnBloomington, IN 47408
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115 N Washington St
1 to 3 Bedroom Apartments

115 N Washington St

115 N Washington StBloomington, IN 47404
Student Housing

Roommate Matching: Finding the Right Fit and Avoiding Pitfalls

When searching for a roommate, follow this list of essential steps and set clear expectations to create a solid foundation for a harmonious living situation.

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DunnPark Studios
Studio Apartments

DunnPark Studios

115 N Dunn StBloomington, IN 47408
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Beacon Hill
1 to 3 Bedroom Apartments

Beacon Hill

1660 W Bloomfield RdBloomington, IN 47403

The Art of the Rental Viewing: What to look for during a property tour

Touring a rental? This guide helps you know exactly what to look for, from safety features to hidden flaws, so you can confidently sign your lease or keep searching.

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Spencer, IN Local Guide

Cheapest Available Spencer Apartments for Rent and Nearby

 

The cheapest available apartment rental in Spencer, IN is a Studio unit found at Vivo Living in the Downtown Bloomington IN neighborhood priced from $549. 3 Square in the Downtown Bloomington IN neighborhood has the second lowest priced unit, which is a Studio apartment currently listed from $750. Here is today’s list of the most affordable Spencer apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Vivo LivingVivo Living - Petite StudioStudio,1BA$549
3 SquareBStudio,1BA$750
Park North ApartmentsPark North - Renovated Studio Apartments - AVAI...Studio,1BA$750
Woodland Springs1 Bedroom1BR,1BA$775
Hub Bloomington4x2 Pod4BR,2BA$799
Northcrest1 Bedroom1BR,1BA$800
College Square ApartmentsThe Walnut1BR,1BA$852
Basswood Apartments1 Bedroom 1 Bathroom1BR,1BA$875
The Uptown ApartmentsBennett1BR,1BA$905
The Crossing at Pete Ellis1 Bedroom1BR,1BA$950

Best Value Apartments for Rent in Spencer, IN and Nearby

As of May 30, 2026 the best value apartment in the Spencer area is the $1.17 price per square foot 3 Bedroom with a den Model at Stapleton in the in the Downtown Bloomington IN neighborhood starting from $1,875. The second greatest value Spencer apartment is the Lofton 2A - Sublease / Lease Release Model at Lofton starting at $1,350 with a $1.42 price per square foot in the Downtown Bloomington IN neighborhood. Here is today’s list of the best values for Spencer apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Stapleton3 Bedroom with a den3BR,2.5BA$1.17
LoftonLofton 2A - Sublease / Lease Release2BR,2BA$1.42
Aspen BloomingtonFrisco A 2x22BR,2BA$1.28
The Quarters BloomingtonD2 - 2x22BR,2BA$1.15
Big Red Apartments2 Bedroom August 20262BR,1BA$1.38
Fountain Park Apartments | Specials AvailableThe Spruce2BR,1BA$1.62
Woodland Springs1 Bedroom1BR,1BA$1.05
The Crossing at Pete Ellis1 Bedroom1BR,1BA$1.32
Summit PointeRivers Edge1BR,1BA$1.60
Basswood Apartments1 Bedroom 1 Bathroom1BR,1BA$1.36

Don't Settle: How to Negotiate Your Apartment Lease and Save Money

Discover the insider tips from an attorney and real estate agent on how to negotiate your next apartment lease. Find out what's on the table and what's not, so you can save money and get the best terms possible.

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Real Estate and Rental Term Glossary | ApartmentHomeLiving.com Renter University

From the letter A all the way to the letter Z, the Real Estate and Rental Term Glossary from the content team at ApartmentHomeLiving.com provides our visitors and shoppers with a little clarity and helpful guidance in navigating the real estate world through definitions and explainers for the top subjects and terms that someone may come across during the leasing, buying, or selling process.

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The common "Rule of Thumb" is that rent should be no more than 30% of your income. How much is that? Enter your monthly income and click "Calculate My Budget" to find out.

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Frequently Asked Questions about Cheap Spencer Apartments

What is the Cheapest Studio apartment in Spencer?

Currently the most affordable Cheap Studio Apartment in Spencer is at Vivo Living listed at $549.

How much is rent for a Cheap One Bedroom Spencer Apartment?

The lowest price for a Cheap One Bedroom Spencer Apartment is $775 at Woodland Springs.

What is the lowest price for a Cheap Two Bedroom Spencer Apartment for rent?

Today's best deal for a Cheap Two Bedroom Apartment in Spencer is starting from $825 at Woodland Springs.

What is the most affordable Spencer Three Bedroom Apartment?

The best deal on a cheap Spencer Three Bedroom Apartment rental is at Hub Bloomington and starts from $999.

Expert Rental Resources

The rental experts at ApartmentHomeLiving.com provide you with top advice, tools, and tips for understanding the leasing process and finding the perfect rental. Here are a few helpful rental and leasing articles from our experts to guide you on your search.

Articles, How-To's, and Tips

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Neighborhood and Market Insights: How to Choose the Right Area to Rent

Written by: Robin Stewart

Apartment-hunting can be a gargantuan task. Renters have a wish list of items—some luxuries, some necessities—but finding what you seek in the right place is perhaps the most important part of the journey.

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A Seasoned Property Manager's Step-by-Step Guide to Getting Your Deposit Back

Written by: Lauren Harrington

I’m going to talk with you as a seasoned property manager and friend. So, let’s start with your security deposit. I want you to think about this guide as insider information. You deserve your deposit back.

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Expert Solutions for Creating the Perfect Work-From-Home Apartment Layouts

Written by: Lauren Harrington

This article is based on first-hand experience managing apartment communities and helping renters adapt to their spaces after moving in.

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What Does “Rent Burdened” Mean? How Much Rent Is Too Much

Written by: Lauren Harrington

This article draws from first-hand renter experiences and recurring financial challenges reported after moving in.