5 N Fourth St
GosportIN47433
Cheap Homes for Rent in Spencer, IN from $900 (8 Rentals)
Search the lowest-cost Homes available for rent right now in Spencer.
1310 N Maple St
BloomingtonIN47404
224 E Ellis Rd
BloomingtonIN47408
116 E 19th St
BloomingtonIN47408
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.
310 Wynndale Dr
BloomingtonIN47403
1383 W Allen St
BloomingtonIN47403
1003 W 11th St
BloomingtonIN47404
726 W 6th St
BloomingtonIN47404
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.
Showing Results 1-8, Page 1 of 1
Spencer, IN Local Guide
Sunset over train tracks by A.Robillard is licensed under CC BY 2.0
How much does it cost to rent a home in Spencer?
| Bedroom | Average Rent | Cheapest Rent | Highest Rent |
|---|---|---|---|
| Spencer 2 Bedroom Homes for Rent | $1,154 | $950 | $1,450 |
| Spencer 3 Bedroom Homes for Rent | $1,931 | $1,375 | $2,400 |
| Spencer 4 Bedroom Homes for Rent | $2,800 | $2,800 | $2,800 |
| Spencer 5 Bedroom Homes for Rent | $3,745 | $2,990 | $4,500 |
Browse Top Homes for Rent in Spencer
Explore Spencer
Spencer, IN Local Guide
- Nearby Cities
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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 $649. 501 N Walnut in the Downtown Bloomington IN neighborhood has the second lowest priced unit, which is a 4 Beds apartment currently listed from $699. Here is today’s list of the most affordable Spencer apartments for rent:
| Apartment Listing | Model Name | Bed/Bath | Priced From |
|---|---|---|---|
| Vivo Living | Vivo Living - Large Studio | Studio,1BA | $649 |
| 501 N Walnut | 501 N. Walnut - Luxury Apartments - 4 Bed/3 Bat... | 4BR,3BA | $699 |
| Park North Apartments | Park North Renovated - 240SF - AVAILABLE NOW! | Studio,1BA | $750 |
Best Value Apartments for Rent in Spencer, IN and Nearby
As of June 23, 2026 the best value apartment in the Spencer area is the $0.38 price per square foot 501 N. Walnut - Luxury Apartments - 4 Bed/3 Bat... Model at 501 N Walnut in the in the Downtown Bloomington IN neighborhood starting from $699. The second greatest value Spencer apartment is the 3 Bedroom with a den Model at Stapleton starting at $1,875 with a $1.17 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 Listing | Model Name | Bed/Bath | Price Per Sq.Ft. |
|---|---|---|---|
| 501 N Walnut | 501 N. Walnut - Luxury Apartments - 4 Bed/3 Bat... | 4BR,3BA | $0.38 |
| Stapleton | 3 Bedroom with a den | 3BR,2.5BA | $1.17 |
| Lofton | Lofton 2A - Sublease / Lease Release | 2BR,2BA | $1.42 |
| Aspen Bloomington | Frisco A 2x2 | 2BR,2BA | $1.13 |
| Big Red Apartments | 2 Bedroom August 2026 | 2BR,1BA | $1.38 |
| Summit Pointe | The Evergreen | 1BR,1BA | $1.22 |
| Woodland Springs | 1 Bedroom | 1BR,1BA | $1.05 |
| The Crossing at Pete Ellis | 1 Bedroom | 1BR,1BA | $1.32 |
| Union at Crescent | 1 Bed 1 Bath | 1BR,1BA | $1.28 |
| Basswood Apartments | 1 Bedroom 1 Bathroom | 1BR,1BA | $1.28 |
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.
Read Article
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.
Read ArticleQuick Rent Budget Calculator
How much rent can you afford?
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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Best Local Schools in Spencer, IN
Owen Valley Community High School
Spencer-Owen Community Schools
Public School - Grades 9-12 (671)
4 out of 10
School data provided by Great Schools
Remember the 3 Rules of Real Estate:Location, Location, Location!
Explore Spencer, IN Rentals by Map
See the most popular apartments and homes in Spencer, IN
Frequently Asked Questions about Spencer
What type of rentals are currently available in Spencer?
There are currently 71 Apartments for Rent in Spencer, IN with pricing that ranges from $649 to $5,500. There are also 36 Single Family Homes for rent, Condos, and Townhome rentals currently available in Spencer ranging from $950 to $4,500.
What is the current price range for Rental Homes in Spencer?
Today's rental pricing for Homes for Rent, Condos and Townhomes in Spencer ranges from $950 to $4,500 with an average monthly rent of $2,202.
How much are larger Three and Four Bedroom Rentals in Spencer?
For those who are looking for larger living arrangements, Three Bedroom Apartments in Spencer range from $835 to $3,300, while Three Bedroom Homes, Condos, and Townhomes for rent range from $1,375 to $2,400. Four Bedroom Single-Family rentals are also available starting from $2,800 and Four Bedroom Apartments start at $699.
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
Apartment Occupancy Rates: Renter Attraction vs Renter Retention
Written by: Robin Stewart
There’s a tenet in marketing about client or customer attraction and retention. Studies and data have consistently shown it costs less to keep a current customer than to attract a new one.
How I Find the Perfect Rental for My Clients: A Real Estate Pro's Guide
Written by: Robin Stewart
Evaluating rental properties for clients draws many parallels to house-hunting. Whether an apartment, loft, townhouse, or other rental, finding the right place means finding “home” for your client.
Pet-Friendly Renting: Everything You Need to Know Before You Move
Written by: Christine Leonard, Esq.
For so many of us, pets are the best companions and a big part of our lives. For this reason, a pet-friendly house or apartment is often a very important - and nonnegotiable - part of a move.
Creative Ways Developers Reimagine Retail Spaces as Residential Units
Written by: Robin Stewart
Adaptive reuse is when a commercial property is converted and repurposed. The real estate industry has embraced a growing number of these projects.