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These days, finding an affordable place to live in the Spencer area can be challenging. Home prices in Spencer are now at a median cost of $162,101, lower than the Iowa average of $182,666.
The average cost of rent is $716/mo in Spencer, primarily driven by the current value of real estate in the Spencer area. While nearly 39.74% of residents own their homes outright in Spencer, 33.70% rent.
Housing affordability isn’t just about home prices, though. The average household income in Spencer is $4,806 per month. Households that rent pay about 14.90% of their income on rent here. Spencer's most expensive areas are in the central regions, while the cheapest areas are in the northeastern parts of the city.
Nearby Cities
- Fostoria, IA: less expensive homes
- Dickens, IA: less expensive homes
- Everly, IA: less expensive homes
- Royal, IA: less expensive homes
- Greenville, IA: less expensive homes
- Rossie, IA: less expensive homes
- Gillett Grove, IA: less expensive homes
- Old Town, IA: higher priced homes
- Moneta, IA: less expensive homes
- Milford, IA: higher priced homes
Cities with Similar Populations
- Vernon, TX: less expensive homes
- Crystal Lake, FL: less expensive homes
- Delavan, WI: equally priced homes
- Tyngsboro, MA: higher priced homes
- Upper Grand Lagoon, FL: higher priced homes
- Urbana, MD: higher priced homes
- Valley Falls, RI: higher priced homes
- Venus, TX: higher priced homes
- Verde Village, AZ: higher priced homes
- Vermillion, SD: higher priced homes
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