Cheap Apartments for Rent near Spencer, NE from $400 (34 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

From theft to fire to water damage, the unexpected can happen to any renter. Discover why renters insurance is one of the smartest and most affordable investments you can make as a tenant.

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Leisure Apartments
1 to 2 Bedroom Apartments

Leisure Apartments

825 E 6th StWayne, NE 68787
  • Utilities Included

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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Forty One Flats
1 to 4 Bedroom Apartments

Forty One Flats

8701 W 41st StSioux Falls, SD 57106
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Copper Flats
1 to 3 Bedroom Apartments

Copper Flats

2415 S Capital StMitchell, SD 57301
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Greenridge Apartments
1 Bedroom Apartments

Greenridge Apartments

1500 N Kimball StMitchell, SD 57301
Senior Living
  • Utilities Included
property at 223 N Main St

$800 - $875

1 Bedroom Rentals

Available Now

223 N Main St

MitchellSD57301

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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Showing Results 1-34, Page 1 of 1

Spencer, NE Local Guide

Cheapest Available Spencer Apartments for Rent and Nearby

 

The cheapest available apartment rental in Spencer, NE is a 1 Bed unit found at Ashbrook Trail Apartments priced from $460. Forty One Flats has the second lowest priced unit, which is a 2 Beds apartment currently listed from $612. Here is today’s list of the most affordable Spencer apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Ashbrook Trail Apartments1 Bed, 1 bath1BR,1BA$460
Forty One Flats2 Bedroom 1 Bathroom2BR,2BA$612
Copper Flats2 Bedroom 1 Bathroom2BR,1BA$621
814 E Highway 44Lamro Units1BR,1BA$675
Erin Apartments2 Beds, 1 bath2BR,1BA$750
The LinksStudioStudio,1BA$850
Wheatridge Apartments & TownhomesTallgrass1BR,1BA$865
Sunset Villas Apartments1 Bed 1 Bath Apartment1BR,1BA$870
Edgewood ApartmentsStudioStudio,1BA$890
The Apartment Place1BR/1BA1BR,1BA$895

Best Value Apartments for Rent in Spencer, NE and Nearby

As of July 26, 2026 the best value apartment in the Spencer area is the $1.16 price per square foot 2 Beds, 1 bath Model at 414 W Phillip Ave in the starting from $1,450. The second greatest value Spencer apartment is the 2bd/2ba Remodel Model at Boulder Creek Apartments starting at $1,280 with a $1.18 price per square foot . 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.
414 W Phillip Ave2 Beds, 1 bath2BR,1BA$1.16
Boulder Creek Apartments2bd/2ba Remodel2BR,2BA$1.18
West Oaks Estate2 bd, 2 ba Lower Level Unit2BR,2BA$1.06
Edgerton PlaceEdgerton Place Phase II - 2 Bed 2 Bath2BR,2BA$1.23
The Apartment Place1BR/1BA1BR,1BA$1.07
Mesa Heights Apartments2BR/1.0BA2BR,1BA$1.08
Forty One Flats2 Bedroom 1 Bathroom2BR,2BA$0.77
Copper Flats2 Bedroom 1 Bathroom2BR,1BA$0.78
Ashbrook Trail Apartments1 Bed, 1 bath1BR,1BA$0.60
814 E Highway 44Lamro Units1BR,1BA$0.99

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

Explore Spencer, NE Rentals by Map

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Frequently Asked Questions about Cheap Spencer Apartments

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

The lowest price for a Cheap One Bedroom Spencer Apartment is $460 at Ashbrook Trail Apartments.

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 $550 at Ashbrook Trail Apartments.

What is the most affordable Spencer Three Bedroom Apartment?

The best deal on a cheap Spencer Three Bedroom Apartment rental is at Erin Apartments and starts from $1,000.

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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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.

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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.

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

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.