Cheap Apartments for Rent near Spencer, SD from $600 (46 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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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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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

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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Golden Prairie
1 to 3 Bedroom Apartments

Golden Prairie

2403 S Capital StMitchell, SD 57301

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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Showing Results 1-46, Page 1 of 1

Spencer, SD Local Guide

Cheapest Available Spencer Apartments for Rent and Nearby

 

The cheapest available apartment rental in Spencer, SD is a 2 Beds unit found at Forty One Flats priced from $612. Egan Avenue Residence has the second lowest priced unit, which is a 1 Bed apartment currently listed from $645. 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
Egan Avenue ResidenceBedroom C1BR,1BA$645
University Hills VillageUnit Type W - Studio/1 BA - Non-SmokingStudio,1BA$775
Crooks Reserve1 Bedroom 1 Bathroom Apartment1BR,1BA$820
Wheatridge Apartments & TownhomesTallgrass1BR,1BA$865
Sunset Villas Apartments1 Bed 1 Bath Apartment1BR,1BA$880
Maple Pass Apartments & TownhomesRent Special - 1 Bedroom 1 Bath Apts1BR,1BA$895
Silos at Ellis CrossingApartment Style- 1 Bedroom 1 Bathroom1BR,1BA$900
Stoney Creek Townhomes2 Bedroom 1 Bathroom2BR,1BA$925
Parkview Apartments and Townhomes2 bedroom apartment2BR,1BA$935

Best Value Apartments for Rent in Spencer, SD and Nearby

As of July 13, 2026 the best value apartment in the Spencer area is the $0.99 price per square foot 3 Bedroom Model at Lake Area Townhomes in the starting from $1,535. The second greatest value Spencer apartment is the 2 Bed 2 Bath Apartment Model at Marion Crossing Apartments starting at $1,150 with a $1.00 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.
Lake Area Townhomes3 Bedroom3BR,2.5BA$0.99
Marion Crossing Apartments2 Bed 2 Bath Apartment2BR,2BA$1.00
Stoney Creek Townhomes3 Bedroom 1.5 Bathroom3BR,1.5BA$1.05
Boulder Creek Apartments2bd/2ba Remodel2BR,2BA$1.18
West Oaks Estate2 bd, 2 ba Lower Level Unit2BR,2BA$1.06
41st Street Commonsb12BR,1BA$1.19
Hillcrest Heights Apartments1 Bedroom 1 Bathroom + Den Apartment1BR,1BA$1.25
Forty One Flats2 Bedroom 1 Bathroom2BR,2BA$0.77
Parkview Apartments and Townhomes2 bedroom apartment2BR,1BA$1.20
Maple Pass Apartments & TownhomesRent Special - 1 Bedroom 1 Bath Apts1BR,1BA$1.30

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, SD Rentals by Map

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See the most popular apartments and homes in Spencer, SD

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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 University Hills Village 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 $645 at Egan Avenue Residence.

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 Parkview Apartments and Townhomes and starts from $1,095.

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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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.

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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.