Zumper
modified
5+ Days Ago

Highlights

  • Pet Friendly

Location

410 8th St Se, Spencer, IA 51301, USA
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Contact

Management

The Banks by Real Property Management Express

Leasing office

(712) 283-4094 ext. 2

Property Overview

The Banks receives a strong Zumper Expert Rating of 8 out of 10, indicating it is a desirable option for renters. It excels in price and location, earning ratings of 9 out of 10 for both, which reflect its competitive pricing and superb access to local amenities and transportation. Additionally, a robust amenities rating of 8 out of 10 highlights the quality of living offered, while a trustworthiness rating of 7 underscores the property’s transparency and reliability.

This summary uses Zumper’s proprietary data. “Zumper Expert Ratings” and “Things you’ll love” are based on our internal analyses of market trends and renter insights.

Zumper Expert Rating

8.0
Very Good
With a solid 8 out of 10 overall, The Banks is a great option for renters. While some aspects, like Quality, might not be as distinguished as other properties nearby, The Banks has a number of attractive features—namely its Price— so you can be assured your rent will come with a high standard of living.

Things you’ll love

  • High school nearby
  • Middle school nearby

Floor plans

1 Bedroom Apartment1 bed1 bath$1,000 /mo1 unit available
The Banks - 2 Bedroom Apartment2 bed1 bath$1,300 /mo1 unit available

Let's explore this property.

Amenities for The Banks

Building

Cats OKDogs OK
Units, floor plans, amenities, dimensions, details, availability, and prices may be approximate and subject to change. Please contact a community representative for more information.

Policies and fees

Applicants

Applicants

One-time.

Contact Property

REQUIRED FEES

Security Deposit

One-time. Refundable.

Contact Property

Dog Policy

Allowed
Limit1

Cat Policy

Allowed
Limit1

Questions about this property’s policies and fees?

Building details

Property details

Units30
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About The Banks

Home The Banks

The Banks is a new multifamily community bringing 30 modern apartment homes to the City of Spencer, opening in October 2026. Offering thoughtfully designed one- and two-bedroom apartments, The Banks combines contemporary finishes, functional layouts, and a convenient location to provide comfortable, modern living in one of Spencer’s most desirable areas. Pets considered with additional pet fee & pet rent. Eligible for $0 security deposit. Rent rates and availability are subject to change. Images, 3D tours, and renderings of units may be similar to available units and do not necessarily represent the specific units available. For more information, contact Real Property Management Express. Professionally leased and managed by Real Property Management Express.


Zumper Expert Rating

Our expert rating is based on a weighted average score of property attributes that renters care about most: price, amenities, location, quality, and trust.
8.0
/10
Very Good
With a solid 8 out of 10 overall, The Banks is a great option for renters. While some aspects, like Quality, might not be as distinguished as other properties nearby, The Banks has a number of attractive features—namely its Price— so you can be assured your rent will come with a high standard of living.
How we rated The Banks
Price·9A score that weighs the cost and location of the property, which we calculate by comparing rent prices of recent units to the median price of nearby rentals, adjusting for overall quality and features.
The Banks stands out with a remarkable rating of 9/10 for its cost per bedroom compared to other rentals in the area. Considering the excellent balance between price, convenience, and comfort that it provides, residents enjoy a high-quality living experience.
Amenities·8A score based on the amenities offered at this property compared to other rentals in the area. We consider the quantity, quality, and popularity of features both on site and within the units.
With multiple in-demand amenities, The Banks is committed to enhancing the renting experience. And while it may have fewer total conveniences and features than similar rentals nearby, it remains a top choice for renters wanting an specific standard of living.
Location·9A score based on proximity and ease of access to shops, restaurants, schools, and public transportation while considering the desirability of the area.
The Banks is exceptional when it comes to location and conveniences. Communication with management or leasing staff is usually quick and easy and they often use advanced scheduling and communication tools to streamline the process. The location of this property offers easy access to popular points of interest in the area and options for getting around.
Quality·6A score based on what makes the property stand out, such as luxury features, unique offerings, age of the building, and our ability to verify the accuracy of these details.
While The Banks does not have many hallmark characteristics to highlight, it has some qualities and features that will resonate with a broad range of renters.
Trustworthiness·7A score based on the accuracy, completeness, recency, and usefulness of the information provided by this property, so you can trust that what you see is what you get.
The Banks provides some information about the features available in the community and its apartments, making it a reliable option for prospective renters. Renters should ask additional questions about amenities and non-negotiable items they are looking for.

Property highlights

We compared every listing in the surrounding area to determine which amenities are most common. If a building lacks an amenity that most others in the area have, it is a con. If a building has an amenity most others in the area do not, it is a pro. Similarly, price, schools, and size are calculated relative to the size, price, and distance to schools of the other properties nearby.

How The Banks compares to other nearby properties.

Positives

High school nearby
There is a high school 1 mile away
Middle school nearby
There is a middle school 2 miles away

Considerations

Grow a garden indoors
A balcony, backyard, or shared outdoor space isn't available
Lacks images
Fewer than 10 photos available for this location
Oven not listed
In-unit oven not included in listing

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Rent trends in Spencer

1-bedroom apartments here are priced 18% higher than 1-bedrooms in Spencer.

If you decide to upgrade your space, you can expect 2-bedrooms at The Banks to be 2% more than the average for similarly sized apartments in Spencer.

Median rents as of Mar 14 2026.
Spencer
A table of 1-bedroom apartment rental data trends in Spencer
MonthMedian Rent
March 2024$830
April 2024$870
May 2024$700
June 2024$700
February 2025$750
March 2025$750
April 2025$855
May 2025$855
November 2025$683
December 2025$691
March 2026$882

Affordability calculator

Can I afford to live at 410 8th St Se?

Bedrooms

Rent-to-income ratio

30%

Slide to adjust the percentage of your monthly income you are willing to spend on rent.
The general rule of thumb is to spend around 30% or less of your income on rent.
Recommended income

$40,000/yr

With your selected rent-to-income ratio, you'd ideally want to make $40,000 annually to afford this 1-bedroom monthly rent price of $1,000.
For more information on rent affordability, visit our rent calculator.

Schools near The Banks

Lincoln Elementary School

615 4th ave sw

spencer, IA, 51301

3-5Public
B-

Johnson Elementary School

724 west 9th st

spencer, IA, 51301

PK, KPublic
B

Fairview Park Elementary School

1508 5th ave east

spencer, IA, 51301

1-2Public
B-
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Internet available near The Banks

Neighborhood

NEIGHBORHOOD VIBE
Peaceful and quiet
Noise-canceling headphones not required in this mostly noise free area.

Getting around Spencer near 410 8th St Se

Walking

4/10
Fewer daily needs are within walking distance (unless you’re up for a challenge).

Driving

8/10
Commuting is easy with multiple accessible routes and plenty of parking.

Cycling

6/10
More spots are within biking distance and some roads are cyclist-friendly.

Points of interest for 410 8th St Se, Spencer

Groceries

7/10
At least one supermarket within a 15-minute walk

Shopping

5/10
Several shops within walking distance

Cafes

5/10
Some cafés within a few minutes’ walk

Restaurants

4/10
Some restaurants within walking distance

Primary schools

5/10
At least one elementary school within a 20-minute walk

High schools

1/10
Closest high school further than a 30-minute walk

Nightlife

2/10
Few or no bars within walking distance

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