Cheap Apartments for Rent in the Spenard Neighborhood of Anchorage, AK from $700 (8 Rentals)
Search the lowest-cost Apartments available for rent right now in the Spenard area of Anchorage.
Spenard, Anchorage, AK Local Guide

How much does it cost to rent an apartment in Spenard?
Bedroom | Average Rent | Cheapest Rent | Highest Rent |
---|---|---|---|
Spenard Studio Apartments | $1,414 | $1,045 | $2,025 |
Spenard 1 Bedroom Apartments | $1,480 | $1,150 | $2,450 |
Spenard 2 Bedroom Apartments | $1,628 | $1,285 | $2,700 |
Spenard 3 Bedroom Apartments | $2,115 | $1,600 | $2,850 |
Spenard 4 Bedroom Apartments | $2,000 | $2,000 | $2,000 |
Browse Apartments in this Neighborhood
There are currently 8 rentals with your search options within a 2 mile radius of the Spenard Neighborhood of Anchorage, AK.
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Cheapest Available Spenard Apartments for Rent
 The cheapest available apartment rental in the Spenard area of Anchorage, AK is a Studio unit found at Castle priced from $1,045. The Mallary has the second lowest priced unit, which is a 1 Bed apartment currently listed from $1,150. Here are the most affordable Spenard apartments for rent in Anchorage, AK:
Apartment Listing | Model Name | Bed/Bath | Priced From |
---|---|---|---|
Castle | Studio X small | Studio,1BA | $1,045 |
The Mallary | 1 Bed | 1BR,1BA | $1,150 |
Terrace on the Lake | Blue Winged Teal | Studio,1BA | $1,210 |
Best Value Apartments for Rent in Spenard, AK
As of March 09, 2025 the best value apartment in the Spenard area is the $2.15 price per square foot 1499 W 40th Ave Model at 1499 W 40th Ave, Unit 1499 in the in the Spenard neighborhood starting from $2,600. The second greatest value Spenard apartment is the 3 Beds Model at Stephens Park starting at $1,875 with a $1.57 price per square foot in the University Area neighborhood. Here is today’s list of the best values for Spenard apartments based on price per square foot:
Apartment Listing | Model Name | Bed/Bath | Price Per Sq.Ft. |
---|---|---|---|
1499 W 40th Ave, Unit 1499 | 1499 W 40th Ave | 3BR,2BA | $2.15 |
Stephens Park | 3 Beds | 3BR,2BA | $1.57 |
Silver Ridge | Latitude | 3BR,2BA | $2.10 |
Hampstead Heath | 2 Bed | 2BR,1BA | $1.61 |
Strawberry Lane | Two Bedroom One Bath (B) | 2BR,1BA | $2.04 |
2808 Iris Dr, Unit 1 | 2808 Iris Dr | 2BR,1BA | $1.87 |
Nicole Apartments | Flat | 1BR,1BA | $1.71 |
Taiga | One Bedroom | 1BR,1BA | $1.98 |
Central Park Apartments | 1 bedroom Floor Plan C | 1BR,1BA | $1.94 |
The Mallary | 1 Bed | 1BR,1BA | $1.94 |
Getting Around the Spenard Neighborhood in Anchorage, AK
Walk Score®
78 / 100
Very Walkable
Most errands can be accomplished on foot
Bike Score®
72 / 100
Very Bikeable
Biking is convenient for most trips
Transit Score®
38 / 100
Some Transit
A few nearby public transportation options
What Are Walk Score®, Transit Score®, and Bike Score® Ratings?
- Walk Score® measures the walkability of any address.
- Transit Score® measures access to public transit.
- Bike Score® measures the bikeability of any address.
Frequently Asked Questions about Cheap Spenard Apartments
What is the Cheapest Studio apartment in Spenard?
Currently the most affordable Cheap Studio Apartment in Spenard is at Castle listed at $1,045.
How much is rent for a Cheap One Bedroom Spenard Apartment?
The lowest price for a Cheap One Bedroom Spenard Apartment is $1,150 at The Mallary.
What is the lowest price for a Cheap Two Bedroom Spenard Apartment for rent?
Today's best deal for a Cheap Two Bedroom Apartment in Spenard is starting from $1,285 at Hampstead Heath.
What is the most affordable Spenard Three Bedroom Apartment?
The best deal on a cheap Spenard Three Bedroom Apartment rental is at Stephens Park and starts from $1,875.
Expert Rental Resources
Helpful Apartment Articles, How-To's and Tips
The rental experts at ApartmentHomeLiving.com provide you with top advice, tools, and tips for understanding the leasing process and finding the perfect rental. Here are a few helpful rental and leasing articles from our experts to guide you on your search.

Understanding Amenity Fees: Know Where You Might Be Able to Save Money
Written by: Amber Kanuckel
With the rising costs of housing, a lot of renters are asking this question: Is it possible to opt out of various amenities that your rental property offers so that you can avoid paying the fees.

What to Know About Fees and Fines When Renting
Written by: Trey Huguley
When it comes to renting a new apartment or home there can be a number of fees that you will want to keep in mind going into the process.

Battling the Butts: Your Guide to the Reality of Smoke-Free Renting
Written by: Andrea Lee Negroni, JD
While many apartment buildings are “no smoking” properties, it’s hard to know exactly how many. In 2017, the National Apartment Association reported more than half of rental properties had smoke free policies.

How Your Move-In Inspection Can Protect Your Security Deposit
Written by: Christine Leonard, Esq.
If you’re anything like most people, housing costs represent a huge chunk of your monthly budget. On top of that, moving can be both a stressful and expensive affair.