Terrace on the Lake
2421 Bentzen Cir,
Anchorage, AK 99517
$1,360 - $1,850
Studio - 2 Beds
Formerly its own city, Spenard is a large Anchorage neighborhood nestled between Hood Canal and Midtown. Spenard combines rugged outdoor adventures with elements of chic city living to create a unique community. If you're into the bohemian lifestyle, poetry jams, bicycle parties, and a diverse range of cultural festivals, start your search for some affordable Spenard housing today. Many choose Spenard for its close proximity to some of Anchorage's biggest natural and cultural attractions, but others choose apartments in Spenard for its world-class international cuisine and down-home Alaskan eateries. Containing part of the city's international airport, this community has grown into one of the most diverse neighborhoods in Anchorage.
As of January 2026, the average apartment rent in Spenard is $1,080 for a studio, $1,206 for one bedroom, $1,562 for two bedrooms, and $1,727 for three bedrooms. Apartment rent in Spenard has increased by 2.2% in the past year.
Studio
444 sq ft
Average Sq Ft
$1,080/month
Average Rent
1 BR
610 sq ft
Average Sq Ft
$1,206/month
Average Rent
2 BR
699 sq ft
Average Sq Ft
$1,562/month
Average Rent
3 BR
600 sq ft
Average Sq Ft
$1,727/month
Average Rent
Very Walkable
out of 100 WalkScore® Rating
If you enjoy walking, you’ll enjoy renting in this area! It’s a very walkable neighborhood.
Some Transit
out of 100 TransitScore® Rating
You'll likely want a car when living in this area since it has few transit options.
Very Bikeable
out of 100 BikeScore® Rating
This area is very bikeable. You’ll find a variety of bike paths and lanes.
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† Our analysis of utilities, groceries, transportation, healthcare, home prices, and other goods and services is sourced from the Cost of Living Index, a respected benchmark published by the Council for Community and Economic Research (C2ER) that provides a thorough overview of living expenses across different regions.
Rent data is provided by CoStar Group’s Market Trend reports. As the industry leader in commercial real estate information, analytics, and news, CoStar conducts extensive research to produce and maintain a comprehensive database of commercial real estate information. We combine this data with public record to provide the most up-to-date rental information available.
Consumer goods, services, and home prices are sourced from the Cost of Living Index published by the Council for Community and Economic Research (C2ER). The data on this page is updated quarterly. It was last published in November 2025.