Cheap Apartments for Rent in Spencer, IN from $500 (23 Rentals)

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

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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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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Sunflower Place
1 to 2 Bedroom Apartments

Sunflower Place

1015 N College AveBloomington, IN 47404
  • Utilities Included
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Sullivan Building
1 to 3 Bedroom Apartments

Sullivan Building

115 N Washington StBloomington, IN 47404

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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Showing Results 1-23, Page 1 of 1

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. Lofton in the Downtown Bloomington IN neighborhood has the second lowest priced unit, which is a 1 Bed apartment currently listed from $749. 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
LoftonLofton - Individual Lease/ Roommate Matching - ...1BR,2BA$749
Woodington Management PropertiesStadium View II1BR,1BA$750
Canadian Apartments1BR/1.0BA1BR,1BA$750
3 SquareHStudio,1BA$750

Best Value Apartments for Rent in Spencer, IN and Nearby

As of October 31, 2025 the best value apartment in the Spencer area is the $0.91 price per square foot Three Bedroom Townhome Model at Nile Ridge Townhomes in the in the Downtown Bloomington IN neighborhood starting from $1,400. The second greatest value Spencer apartment is the Crimson Crossing Apartments - The Crimson Model at Crimson Crossing Townhomes starting at $1,899 with a $1.40 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.
Nile Ridge TownhomesThree Bedroom Townhome3BR,3.5BA$0.91
Crimson Crossing TownhomesCrimson Crossing Apartments - The Crimson3BR,3.5BA$1.40
Park on Morton3x3 Balcony - Platinum3BR,3BA$0.91
Beacon HillBeacon Hill - 3 Bed/2 Bath - Remodeled3BR,2BA$1.06
Walnut Springs2 Bedroom, 2 Bath2BR,2BA$0.79
Woodland Springs3 Bedroom3BR,1BA$1.19
The League Bloomington10 North 2x2 Penthouse2BR,2BA$0.99
LoftonLofton 2A - Sublease / Lease Release2BR,2BA$1.42
The Stratum at Indiana2x22BR,2BA$0.92
Summit PointeThe Evergreen1BR,1BA$1.39

Apartment Common Area Rules: What Renters Need to Know

From the lounge to the laundry room, understand your rights and responsibilities in shared apartment spaces. Get tips on pet rules, noise, and security.

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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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The Ultimate Long-Distance Moving Checklist: Tips from a Real Estate Pro

Moving is tough, especially long-distance. Learn how to minimize stress & expenses with proven strategies from a real estate pro, covering everything from logistics to finances.

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Quick Rent Budget Calculator

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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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Pet Friendly Lifestyle
Spencer, IN

Ranked #99

Among cities in Indiana for Apartment listings with Pet Friendly Amenities.

Pet Friendliness Lifestyle Score

2.5
Pet Friendly

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Best Local Schools in
Spencer, IN

School data provided by Great Schools

Remember the 3 Rules of Real Estate:
Location, Location, Location!

Explore Spencer, IN Rentals by Map

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See the most popular apartments and homes in Spencer, IN

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Getting Around Spencer, IN

Walk Score®

19 / 100

Car-Dependent

Almost all errands require a car

Bike Score®

21 / 100

Somewhat Bikeable

Minimal bike infrastructure

What Are Walk Score®, Transit Score®, and Bike Score® Ratings?

  • Walk Score® measures the walkability of any address.
  • Transit Score® measures access to public transit.
  • Bike Score® measures the bikeability of any address.

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 $749 at Lofton.

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 $850 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 Aspen Bloomington and starts from $1,050.

Expert Rental Resources

Helpful Apartment Articles, How-To's and Tips

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.

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Apartment Common Area Rules: What Renters Need to Know

Written by: Christine Leonard, Esq.

Back in the day when I rented one of my first apartments, the property didn’t even have laundry in the building. Now, rental properties are often competing against each other to provide the best amenities.

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How to Negotiate Your Apartment Lease and Save Money

Written by: Christine Leonard, Esq.

Everything is a negotiation in real estate! 

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The Rental Move-In Inspection Checklist: A Guide for Renters

Written by: Trey Huguley

The move-in inspection checklist is a crucial tool for both tenants and landlords. This checklist, provided by the team at ApartmentHomeLiving.com, helps document the condition of an apartment at the time of move-in.

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

Written by: Christine Leonard, Esq.

For many people, obstacles can arise during the rental application process for a variety of issues.