Rentometer, Inc. | Data as of 10/23/2025
Spencer’s metro rental market offers a mix of modern apartments within a friendly Midwestern setting, making it an appealing choice for young professionals, families, and retirees alike. The city’s vibrant downtown boasts historic brick streets, boutique shops, and a lively arts scene, while nearby parks such as Wapsipinicon River Trail provide ample opportunities for outdoor recreation. With quality schools and convenient access to major highways, residents enjoy both the charm of a small‑town community and easy connectivity to larger regional hubs.
Apartment options in Spencer span a range of sizes to suit diverse lifestyles. One‑bedroom units generally fall in the $900 range, offering comfortable living spaces for single renters or couples. Two‑bedroom apartments are typically priced around the $1,100–$1,200 mark, providing extra room for small families or home‑based work setups. Larger three‑bedroom layouts approach the $1,500 range, delivering spacious accommodations for growing households. These price points reflect a balanced market where affordability meets quality, and many complexes feature updated interiors, on‑site laundry, and amenity‑rich environments.
Beyond the apartments themselves, Spencer’s neighborhoods each carry their own distinct character. The historic downtown district blends classic architecture with contemporary dining and entertainment, while the Riverfront area offers scenic views and easy access to walking trails. Residents also benefit from the city’s strong sense of community, highlighted by regular festivals, farmers’ markets, and vibrant local sports clubs. Whether you’re seeking a compact studio or a roomy family home, Spencer’s rental landscape provides a welcoming environment that supports a balanced, active lifestyle.
| Property Type | Bedrooms | Average | Median | Min - Max | 25th - 75th |
|---|---|---|---|---|---|
| Apartment | 1 Bedroom | $918 | $870 | $725 - $1,160 | $725 - $1,160 |
| Apartment | 2 Bedroom | $1,122 | $1,040 | $875 - $1,535 | $906 - $1,535 |
| Apartment | 3 Bedroom | $1,531 | $1,580 | $1,390 - $1,625 | $1,390 - $1,625 |
In the current period, the average rent in Spencer, IA was
$918 for 1 Bedroom,
$14,898 for 2 Bedroom, and
$1,532 for 3 Bedroom.
Note: This analysis includes only bedroom types with sufficient data.
Data provided by Rentometer, Inc.