Rentometer, Inc. | Data as of 10/23/2025
Spencer, Iowa offers a vibrant rental market that blends small‑town charm with easy access to cultural and outdoor amenities. Prospective renters appreciate the city’s walkable downtown area, historic Main Street boutiques, and the scenic views along the Mississippi River. Nearby parks, such as Ridenbaugh and the Spencer Riverfront Trail, provide abundant recreational opportunities, making the city an attractive destination for families, professionals, and students alike.
The local rental inventory is centered on apartment living, with a variety of floor plans that accommodate diverse needs. One‑bedroom units typically fall in the $900 range, offering affordable options for individuals or couples seeking a comfortable base. Two‑bedroom apartments are commonly found in the $1100 range, ideal for small families or roommates desiring extra space. Larger three‑bedroom units are available in the $1500 range, providing ample room for growing households while still maintaining reasonable pricing levels for the region.
Spencer’s neighborhoods, including the historic Riverfront District and the newer Northside developments, each bring their own character and convenience. Residents enjoy close proximity to essential services such as the Spencer Hospital, local schools, and a variety of dining and entertainment venues. With a balanced mix of affordable apartments, scenic surroundings, and a friendly community atmosphere, Spencer, Iowa remains a compelling choice for anyone looking to rent in the heart of the Midwest.
| 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 was
$918 for 1 Bedroom,
$1,123 for 2 Bedroom, and
$1,532 for 3 Bedroom.
Note: This analysis includes only bedroom types with sufficient data.
Data provided by Rentometer, Inc.