6

Studio Apartment for Rent in Spencer, IA

Section Image
  • /43

    Starting at $815 Per Month

    • Studio - 3 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 Apartments & Townhomes

    (712) 900-1095

    1001 9th St SW, Spencer, IA 51301

Why Live in Spencer

Spencer, located in northwest Iowa, is a city where the Little Sioux and Ocheyedan rivers converge. Known for its deep-rooted community, Spencer hosts the largest county fair in Iowa and is a hub for farm equipment manufacturers and food processors. The city has a growing healthcare sector, bolstered by a new emergency department at Spencer Hospital. Despite a devastating flash flood in June 2024, which damaged over three-quarters of the city's structures, Spencer continues to rebuild with support from the Chamber of Commerce. Homes in Spencer range from early 1900s American Foursquares and folk-style houses to ranch-style homes and newer subdivisions on the outskirts. The downtown area, rebuilt in the Art Deco style after a 1931 fire, is listed on the National Register of Historic Places and features a mix of local businesses and national chains. Spencer boasts over 400 acres of parks and recreation, including the 12-mile Spencer Recreational Trail, East Leach Park, Stolley Park, and the Spencer Golf and Country Club. The Spencer Community School District offers college credit courses, and Iowa Lakes Community College has a campus in the city. Transportation is facilitated by U.S. Routes 71 and 18, a regional airport, and a nonprofit transit system. Spencer's attractions include the Clay County Fair, one of the largest in the nation, and various local events that foster a strong sense of community. Crime rates in Spencer are lower than the national average, contributing to its appeal as a safe place to live.

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 $975 per month, though prices vary by neighborhood, size, and property type. As of May 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 $39,000 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 $975 per month in Spencer, IA, renters typically need to show $2,925 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 15.0, 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 Home Trends in Spencer, IA

Rental Home Trends

Number of Homes for Rent
1
Median Rent
$975
Median Single Family Home Rent
$950
Median Condo Rent
$900
How to Rent a Home