Spencer Settlement renters looking for the least expensive areas to rent should look for the areas towards the red end of the spectrum on the rent cost map. Those who don't mind paying for high-end and luxury apartments should seek out apartments in dark green areas.
On average, the cost of rent in Spencer Settlement is about $1,125 per month. This puts it in the 72nd percentile compared to the state average cost of rent, which is $1,514. Households in Spencer Settlement have a median income of $7,467 per month so the average renter in Spencer Settlement is spending roughly 15% of their earnings on housing.
Nationally, and in Spencer Settlement, home values are the data point most closely correlated with the cost of rent. The median price of a home in Spencer Settlement is $140,100 right now, which is lower than nearby cities, meaning that rents in Spencer Settlement also tend to be lower versus these nearby cities.
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