Zumper
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Updated 9 Hours Ago

Highlights

  • Pet Friendly
  • Spacious apartments
  • Modern living
  • Contemporary finishes
  • Offering thoughtfully designed apartments
  • Welcoming community
  • Thoughtfully designed interiors

Location

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

Management

The Banks

Leasing office

(712) 262-7034

Property Overview

The Banks Apartments earns a strong overall impression with an 8.3 Zumper Expert Rating, supported by standout scores for price, amenities, and location. It offers spacious apartments with modern living, contemporary finishes, and thoughtfully designed interiors, along with a welcoming community and strong value per square foot. Nearby pet services and 12 photos add to its appeal and give renters a clearer sense of the property.

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

Zumper Expert Rating

8.3
Very Good
With a solid 8.3 out of 10 overall, The Banks Apartments is a great option for renters. While some aspects, like Quality, might not be as distinguished as other properties nearby, The Banks Apartments 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

  • Images Available

Great for

  • Pet owners

Floor plans

1 Bedroom 1 Bathroom Apartment (C-1)1 bed1 bath688 sqft$945 /mo12 units availableThe 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 and functional layouts.
2 Bed 1 Bath Apartment (F-1)2 bed1 bath907 sqft$1,165 /mo2 units availableThe 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 and functional layouts.
2 Bedroom 1 Bathroom Apartment (D-1)2 bed1 bath976 sqft$1,195 /mo3 units availableThe 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 and functional layouts.
2 Bedroom 1 Bathroom (A-1)2 bed1 bath970 sqft$1,195 /mo5 units availableThe 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 and functional layouts.
2 Bedroom 2 Bathroom Apartment (B-1)2 bed2 bath976 sqft$1,325 /mo2 units availableThe 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 and functional layouts.

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Amenities for The Banks Apartments

Appliances

DishwasherIn-Unit Laundry
MicrowaveRange/Stove
RefrigeratorWasher and Dryer

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 Apartments

Home The Banks Apartments

Welcome to The Banks Apartments, a brand-new apartment community NOW LEASING in Spencer, IA. Designed with modern living in mind, The Banks offers spacious, stylish apartments with thoughtfully designed interiors and convenient features to make you feel right at home. At The Banks, residents can enjoy comfortable living in a welcoming community with amenities designed for everyday convenience and connection. Whether you're relaxing at home or enjoying the community spaces, The Banks offers a fresh, modern place to call home in Spencer. Ready to make The Banks your new home? Schedule a tour today! Pets allowed with additional pet fee & pet rent. *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. Professionally leased and managed by Talon Property Management, LLC. The Banks is an apartment community located in Spencer, Iowa, in Clay County and the 51301 ZIP Code. This area is served by the Spencer Community School District.


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.
8.3
/10
Very Good
With a solid 8.3 out of 10 overall, The Banks Apartments is a great option for renters. While some aspects, like Quality, might not be as distinguished as other properties nearby, The Banks Apartments 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 Apartments
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 Apartments 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·9A 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.
The Banks Apartments goes above and beyond to provide sought-after conveniences and desirable perks, including pets allowed. Renters looking for popular or luxurious features will find them here—and for that reason, The Banks Apartments receives one of the highest amenities scores.
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 Apartments 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 Apartments 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 Apartments 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.

The Banks Apartments is great for:

Pet owners

  • 4 pet supply stores near the property
  • 2 pet grooming services nearby
  • 2 pet hospitals in the area

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 Apartments compares to other nearby properties.

Positives

Images Available
There are at least 10 photos of this property

Considerations

Grow a garden indoors
A balcony, backyard, or shared outdoor space isn't available
Oven not listed
In-unit oven not included in listing

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Rent trends in Spencer

1-bedroom apartments here are priced 2% higher than 1-bedrooms in Spencer.

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

Median rents as of Oct 3 2026.
Spencer
A table of 1-bedroom apartment rental data trends in Spencer
MonthMedian Rent
February 2025$750
March 2025$750
April 2025$855
May 2025$855
November 2025$683
December 2025$691
March 2026$882
August 2026$943
September 2026$939
October 2026$930

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

$37,800/yr

With your selected rent-to-income ratio, you'd ideally want to make $37,800 annually to afford this 1-bedroom monthly rent price of $945.
For more information on rent affordability, visit our rent calculator.

Schools near The Banks Apartments

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 Apartments

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
Wide variety of groceries within a short drive, including some within walking distance

Shopping

4/10
Variety of shops within a short drive

Cafes

3/10
Some cafés within a short drive

Restaurants

4/10
Variety of restaurants within a short drive

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
Some bars within a short drive

Explore the area around 410 8th St Se

Many Hands Market
1019 S Grand Ave
Walmart Supercenter
500 11th St SW
Fareway
104 E 8th St
Hy-Vee
819 Grand Ave

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