Cheap Apartments for Rent near Spencer, NE from $460 (46 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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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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Leisure Apartments
1 to 2 Bedroom Apartments

Leisure Apartments

825 E 6th StWayne, NE 68787
  • Utilities Included
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Copper Flats
1 to 3 Bedroom Apartments

Copper Flats

2415 S Capital StMitchell, SD 57301

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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Greenridge Apartments
1 Bedroom Apartments

Greenridge Apartments

1500 N Kimball StMitchell, SD 57301
Senior Living
  • Utilities Included
property at 223 N Main St
$850 - $1,250
1 To 2 Bedroom Rentals
Available Now

223 N Main St

MitchellSD57301

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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Showing Results 1-46, 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 1 Bed apartment currently listed from $510. 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 Flats1 Bedroom 1 Bathroom1BR,1BA$510
Oak Park ApartmentsEfficiency - InteriorStudio,1BA$580
Copper Flats2 Bedroom 1 Bathroom2BR,1BA$621
814 E Highway 44Lamro Units1BR,1BA$625
Saracen CourtsUnit 5151BR,1BA$690
Erin Apartments2 Beds, 1 bath2BR,1BA$750
The Clark Apartments1 Bed1BR,1BA$750
Sunset Villas Apartments1 Bed 1 Bath Apartment1BR,1BA$840
The LinksStudioStudio,1BA$850

Best Value Apartments for Rent in Spencer, NE and Nearby

As of September 10, 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 2bd2ba Model at Boulder Creek Apartments starting at $1,230 with a $1.13 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 Apartments2bd2ba2BR,2BA$1.13
West Oaks Estate2 bd, 2 ba Lower Level Unit2BR,2BA$1.06
The Apartment Place1BR/1BA1BR,1BA$1.07
Mesa Heights Apartments2BR/1.0BA2BR,1BA$1.08
Copper Flats2 Bedroom 1 Bathroom2BR,1BA$0.78
Ashbrook Trail Apartments1 Bed, 1 bath1BR,1BA$0.60
The Clark Apartments1 Bed1BR,1BA$1.03
814 E Highway 44Lamro Units1BR,1BA$0.92
Forty One Flats1 Bedroom 1 Bathroom1BR,1BA$0.85

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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Navigating the Rental Market: Tips for First-Time Renters

Entering the rental market? Learn these simple tips and strategies to avoid common pitfalls and make confident choices. Rent with peace of mind.

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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

What is the Cheapest Studio apartment in Spencer?

Currently the most affordable Cheap Studio Apartment in Spencer is at Oak Park Apartments listed at $580.

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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Exploring Rental Options: Apartments, Townhomes, and Lofts - Oh My!

Written by: Robin Stewart

Where do you see yourself? When you think of home, sweet home, are you in a 3/2 apartment? Dreaming of a tall townhome? Maybe an industrial loft heavy on cool vibes is on your visioning board.

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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.