Cheap Apartments for Rent in Spencer, NE from $500 (26 Rentals)

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

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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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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Leisure Apartments
1 to 2 Bedroom Apartments

Leisure Apartments

825 E 6th StWayne, NE 68787
  • Utilities Included
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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

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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Greenridge Apartments
1 Bedroom Apartments

Greenridge Apartments

1500 N Kimball StMitchell, SD 57301
Senior Living
  • Utilities Included

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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Showing Results 1-26, 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 2 Beds unit found at Forty One Flats priced from $612. 814 E Highway 44 has the second lowest priced unit, which is a 1 Bed apartment currently listed from $675. Here is today’s list of the most affordable Spencer apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Forty One Flats2 Bedroom 1 Bathroom2BR,2BA$612
814 E Highway 44Lamro Units1BR,1BA$675
Saracen CourtsUnit 4041BR,1BA$690
Erin Apartments2 Beds, 1 bath2BR,1BA$750
The LinksStudioStudio,1BA$850
Wheatridge Apartments & TownhomesTallgrass1BR,1BA$865
Sunset Villas Apartments1 Bed 1 Bath Apartment1BR,1BA$890
The Apartment Place1BR/1BA1BR,1BA$895
Silos at Ellis CrossingApartment Style- 1 Bedroom 1 Bathroom1BR,1BA$900
Edgerton PlaceEdgerton Place Phase II - StudioStudio,1BA$920

Best Value Apartments for Rent in Spencer, NE and Nearby

As of June 11, 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 Rent Special - 3 Bed, 2 Bath Apts Model at Maple Pass Apartments & Townhomes starting at $1,295 with a $1.08 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
Maple Pass Apartments & TownhomesRent Special - 3 Bed, 2 Bath Apts3BR,2BA$1.08
Boulder Creek Apartments2bd/2ba Remodel2BR,2BA$1.18
Westbrook Estates I2 Bed 1 Bath2BR,1BA$1.15
Westview Heights Apartments, LLC2Bed/2Bath2BR,2BA$1.28
Edgewood Apartments2 Bedroom 2 Bathroom2BR,2BA$1.26
The Apartment Place1BR/1BA1BR,1BA$1.07
Forty One Flats2 Bedroom 1 Bathroom2BR,2BA$0.77
PLUM VILLAUnit B2BR,1BA$1.25
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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Quick 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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Remember the 3 Rules of Real Estate:
Location, Location, Location!

Explore Spencer, NE Rentals by Map

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See the most popular apartments and homes in Spencer, NE

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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 The Links listed at $850.

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

The lowest price for a Cheap One Bedroom Spencer Apartment is $675 at 814 E Highway 44.

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 $612 at Forty One Flats.

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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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.

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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.

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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.

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Neighborhood and Market Insights: How to Choose the Right Area to Rent

Written by: Robin Stewart

Apartment-hunting can be a gargantuan task. Renters have a wish list of items—some luxuries, some necessities—but finding what you seek in the right place is perhaps the most important part of the journey.