Cheap Apartments for Rent in Spencer, NC from $775 (29 Rentals)

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

Rent According to Income: A Look at Income-Restricted Rentals

Find income-restricted rentals and housing subsidies. Explore government programs designed to help low-income families secure stable, affordable housing.

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Renters Insurance 101: What It Is, What It Covers, and Why You Need It

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How I Find the Perfect Rental for My Clients: A Real Estate Pro's Guide

Finding the right apartment starts with three things: location, cost, and amenities. Get the insider perspective from a real estate professional on how to nail all three.

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East Winds Apartments
1 to 2 Bedroom Apartments

East Winds Apartments

420 N Boundary StSalisbury, NC 28144
Senior Living
  • Utilities Included
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Parkview Apartments
Studio to 2 Bedroom Apartments

Parkview Apartments

215-217 W 3rd AveLexington, NC 27292
  • Utilities Included
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Ashton Woods
1 to 3 Bedroom Apartments

Ashton Woods

1100 Bringle Ferry RdSalisbury, NC 28144
property at 1119 Grady St

$1,050

Total Monthly Price

Total Monthly Price

Base Rent
$1,050
Total Monthly Price
$1,050

2 Bedroom, 1 Bath Home for Rent

Available Now

1119 Grady St

SalisburyNC28144

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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30 E 4th St
2 to 3 Bedroom Apartments

30 E 4th St

30 E 4th StLexington, NC 27292
Showing Results 1-29, Page 1 of 1

Spencer, NC Local Guide

Cheapest Neighborhoods for Apartments in Spencer, NC

Pricing Updated: 08/26/2026

Current apartment rentals in the Spencer, NC area range in price from $950 to $2,100 with an overall median price of $1,215. Here is today’s list neighborhoods with the lowest median pricing for Spencer Apartments for rent:

NeighborhoodMedian PriceMin PriceAvailable Units
Downtown Spencer$1,215$95017

Cheapest Available Spencer Apartments for Rent

 

The cheapest available apartment rental in Spencer, NC is a Studio unit found at Lakewood I and II Apartment Homes in the Westwood neighborhood priced from $775. Northwood Apartment Homes in the Davie neighborhood has the second lowest priced unit, which is a Studio apartment currently listed from $905. Here is today’s list of the most affordable Spencer apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Lakewood I and II Apartment HomesStudioStudio,1BA$775
Northwood Apartment HomesStudioStudio,1BA$905
Lexington Park ApartmentsCozy One Bedroom Apartment Home1BR,1BA$920
Fleming Heights Apartments1 Bedroom1BR,1BA$950
530 Park Ave1-Bedroom1BR,1BA$950
205 E First Street ApartmentsTwo-Bedrooms2BR,1BA$995
27 Hege Drive2/12BR,1BA$995
Kannan Station Apartment HomesStudioStudio,1BA$1,010
Fairview Village1 Bedroom Garden1BR,1BA$1,025
The Ridges1 Bedroom1BR,1BA$1,025

Best Value Apartments for Rent in Spencer, NC

As of August 26, 2026 the best value apartment in the Spencer area is the $1.34 price per square foot 2x2 Deluxe-Call For Availability Model at Crown Point Luxury Apartments at Kingsport in the in the Oak Crest neighborhood starting from $1,525. The second greatest value Spencer apartment is the 2A Model at Laurel Pointe starting at $1,050 with a $1.03 price per square foot in the Westwood 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.
Crown Point Luxury Apartments at Kingsport2x2 Deluxe-Call For Availability2BR,2BA$1.34
Laurel Pointe2A2BR,2BA$1.03
The Retreat at Kannapolis2Bd 1.5Bth TH Reno2BR,1.5BA$1.25
The Grand on JulianThe Tarheel - w/ Sunroom1BR,1BA$1.35
Meadow Creek2 Bedroom 1.5 Bath Garden2BR,1.5BA$1.38
Forest Village2 Bedroom 1 Bathroom2BR,1BA$1.25
The Vive at KellswaterA1 The Beech - One Bedroom, One Bathroom1BR,1BA$1.32
306 N Jackson Street2BR/1.0BA2BR,1BA$1.29
Nu Salisbury SouthOne Bedroom One Bath1BR,1BA$1.29
530 Park Ave1-Bedroom1BR,1BA$1.34

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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Pet Friendly Lifestyle
Spencer, NC

Ranked #168

Among cities in North Carolina for Apartment listings with Pet Friendly Amenities.

Pet Friendliness Lifestyle Score

2.5
Pet Friendly

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Best Local Schools in
Spencer, NC

School data provided by Great Schools

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

Explore Spencer, NC Rentals by Map

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See the most popular apartments and homes in Spencer, NC

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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 Lakewood I and II Apartment Homes listed at $775.

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

The lowest price for a Cheap One Bedroom Spencer Apartment is $890 at Lakewood I and II Apartment Homes.

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 $860 at Lakewood I and II Apartment Homes.

What is the most affordable Spencer Three Bedroom Apartment?

The best deal on a cheap Spencer Three Bedroom Apartment rental is at Laurel Pointe and starts from $1,204.

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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Rent According to Income: A Look at Income-Restricted Rentals

Written by: Robin Stewart

The idea of affordable housing can be subjective. Every individual is in a different place financially and vocationally. What one may easily afford could be a struggle for someone else.

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Practical Tips for Renters: How to Identify a Great Rental and Avoid Red Flags

Written by: Robin Stewart

Renters want to find a great apartment, the right place for them, one that checks all the boxes of location, rental cost, amenities, safety, and more.

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First Apartment Regrets: Real Renters Share What They'd Do Differently

Written by: Robin Stewart

Hindsight is 20/20. Live and Learn. With age comes wisdom. We’re familiar with all those expressions, and all of them apply to lessons first-time renters learn.

decorative image for Renters Insurance 101: What It Is, What It Covers, and Why You Need It article

Renters Insurance 101: What It Is, What It Covers, and Why You Need It

Written by: Robin Stewart

Insurance seems to be a part of life. In some states, having insurance is the law, as is the case for automobile insurance. Renters are no exception.