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Newest Homes for Rent in Spencer, IA

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  • 1001 9th St SW, Spencer, IA 51301
    1001 9th St SW, Spencer, IA 51301
    1001 9th St SW, Spencer, IA 51301
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    Starting at $790 Per Month

    • Studio - 4 Beds

    1001 9th St SW, Spencer, IA 51301

    Welcome to Windcrest Village in Spencer, Iowa.Discover comfortable living in a welcoming community. Windcrest Village offers thoughtfully designed one-, two-, and three-bedroom apartments, along with two-, three-, and four-bedroom townhomes, providing flexible layouts for a variety of lifestyles.Each home features in-unit washers and dryers, spacious bedrooms with large closets

    Windcrest Village I & II

    1001 9th St SW, Spencer, IA 51301
  • 110 4th St SE, Spencer, IA 51301
    110 4th St SE, Spencer, IA 51301
    110 4th St SE, Spencer, IA 51301
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    Starting at $725 Per Month

    • 1 - 2 Beds

    110 4th St SE, Spencer, IA 51301

    Park View Apartments - 2 Bedroom / 1 Bath - Fully remodeled 2 bedroom/1 bath apartment with 693 square feet. Solid construction with concrete walls, ceiling and floors. All new central air conditioning and heat in each unit. The remodeled kitchen features Samsung stainless steel appliances with new granite. New gray vinyl wood plank flooring throughout the apartment with new fresh gray

    Park View Apartments

    110 4th St SE, Spencer, IA 51301
  • 600 E 19th St, Spencer, IA 51301
    600 E 19th St, Spencer, IA 51301
    600 E 19th St, Spencer, IA 51301
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    Starting at $906 Per Month

    • 2 Beds

    600 E 19th St, Spencer, IA 51301

    Income based rent (approximately 30% of household income). Income restrictions do apply. Coin operated laundry on site. Stove & Fridge provided. "This institution is an equal opportunity provider."

    Cypress Pointe Apartments

    600 E 19th St, Spencer, IA 51301
  • 1404 4th Ave SW, Spencer, IA 51301
    1404 4th Ave SW, Spencer, IA 51301
    1404 4th Ave SW, Spencer, IA 51301
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    $950 Per Month

    • 3 Beds
    • 1 Bath
    • 900 Sq Ft
    • Condo for Rent

    1404 4th Ave SW, Spencer, IA 51301

    Property Id: 4526373 bedroom, 1 bathroom apartment for rent in Spencer, located on Spencer Municipal Golf Course. One stall garage, laundry located in common area. Great location, convenient to shopping. Tenant is responsible for electric and garbage. Landlord pays for snow, lawn, water and sewer. No smoking/No pets***Pictures are from a similar unit and there

    1404 4th Ave SW, Spencer, IA 51301
Iowa Clay County Spencer

Newest Homes for Rent in Spencer, IA

Frequently Asked Questions

How much does it cost to rent a home in Spencer, IA?
The median rent for a home in Spencer, IA is $950 per month, though prices vary by neighborhood, size, and property type. As of July 2026, condos tend to be the most affordable option while single-family homes are currently more expensive.
How much do you need to make to afford rent in Spencer, IA?
To comfortably afford the median rent in Spencer, IA, a household needs to earn roughly $38,000 per year. This is based on the common guideline that households should spend no more than 30% of gross income on housing. Most landlords require monthly household income of at least 3x the monthly rent, and with a median rent of $950 per month in Spencer, IA, renters typically need to show $2,850 per month in gross income to qualify. Actual affordability will vary depending on household debts, other living expenses, and overall budget.
Is it more affordable to rent or buy in Spencer, IA?
In Spencer, IA, the price-to-rent ratio is 15.4, which generally favors renting. This ratio divides the median home price by the annual median rent: below 15 typically favors buying, 15 to 20 is balanced, and above 20 typically favors renting. Your finances, how long you plan to stay, and costs like mortgage rates, taxes, and maintenance all factor into the decision.

Rental Trends in Spencer, IA

There are currently 4 homes available for rent in Spencer, IA. The median rent is $950 per month, with single-family homes renting at $950 and condos at $800.

Rental Home Trends

Number of Homes for Rent
4
Median Rent
$950
Median Single Family Home Rent
$950
Median Condo Rent
$800
How to Rent a Home

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