Iowa is known as the "Hawkeye State" and America's heartland. This beautiful state is famous for its rolling hills, fertile farmland, and vibrant cities. Immerse yourself in Iowa's rich history by visiting the Herbert Hoover Presidential Library and Museum, Amana Colonies, or developing your skills at the University of Iowa and Iowa State University. Iowa also has a vibrant cultural scene, with dozens of professional theaters, art galleries, and museums spread throughout the state.

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Discover why Iowa is a place that is sure to steal your heart and capture your imagination. Experience the best of what the Midwest offers, and you'll see why it's such a great place to live.

Rental Market Trends

Spencer, IA

As of July 2025, Spencer's rental market is competitive, with strong renter demand causing quick leasing times for well-priced units. Spencer's average rent is 11.5% ($124) higher than the Iowa average of $1,077 and 32.3% ($574) lower than the U.S. average of $1,775.

Average Rent

$1,201

Monthly ChangeMonth Over Month Change

5.1% ($58)

Yearly ChangeYear Over Year Change

20.8% ($207)

Avg. Days on MarketAverage Days on Market

Unit Type	Average Rent	Monthly ChangeMonth Over Month Change	Yearly ChangeYear Over Year Change
1 Bed	$930	4.6% ($41)	3.5% ($34)
2 Beds	$1,243	2.5% ($30)	9% ($103)
3 Beds	$1,421	0.1% ($1)	3.6% ($50)

Nearby Cities	Average Rent	Avg. Rent vs. SpencerAverage Rent vs. Spencer	Avg. Days on MarketAverage Days on Market
Spirit Lake	$1,179	1.8% ($22)	35 days
Estherville	$990	17.6% ($211)	35 days

Rental market trends are calculated using listing data from RentalSource.

Frequently Asked Questions

Spencer Rental Market FAQs

Explore rental prices, market trends, and availability in Spencer, IA.

What is the average rent in Spencer, IA?

The average rent in Spencer, IA is $1,201 per month.

What is the rental price range for apartments in Spencer, IA?

Apartments in Spencer typically rent for between $651 and $1,847 per month, with an average of $1,201 per month.

What is the average rent for different bedroom sizes in Spencer, IA?

In Spencer, the average rent for a 1-bedroom apartment is $930 per month, for a 2-bedroom apartment, $1,243 per month, and a 3-bedroom apartment is $1,421 per month.

How do rent prices in Spencer, IA compare with the national average?

The average rent in Spencer is 32.3% ($574) lower than the national average of $1,775 per month.

How have rent prices in Spencer, IA changed recently?

The average rent in Spencer has increased by 5.1% ($58) in the last month and increased by 20.8% ($207) over the past year.

How competitive is the rental market in Spencer, IA?

The rental market in Spencer, IA, is currently competitive, with strong renter demand causing quick leasing times for well-priced units.

How long do rentals stay on the market in Spencer, IA?

In Spencer, IA, the average rental stays on the market for approximately 38 days. While most properties are rented within this timeframe, factors like seasonality, demand, and property type can affect how quickly a rental leases.

How many rental properties are available in Spencer, IA?

There are currently 2 rental properties available in Spencer, IA.

Can I afford to rent an apartment in Spencer, IA?

Based on the current averages, a household would need an annual income of $49,720 to comfortably afford a 2-bedroom apartment in Spencer.