Home Price Key
Affordable
Average
Expensive
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 $127,633, lower than the Indiana average of $175,617.
The average cost of rent is $752/mo in Spencer, primarily driven by the current value of real estate in the Spencer area. While nearly 44.24% of residents own their homes outright in Spencer, 21.12% rent.
Housing affordability isn’t just about home prices, though. The average household income in Spencer is $4,671 per month. Households that rent pay about 16.11% of their income on rent here. Spencer's most expensive areas are in the southeastern regions, while the cheapest areas are in the western parts of the city.
Nearby Cities
- Romona, IN: higher priced homes
- Pottersville, IN: higher priced homes
- Freeman, IN: higher priced homes
- Vandalia, IN: higher priced homes
- Stinesville, IN: higher priced homes
- Gosport, IN: higher priced homes
- Cuba, IN: equally priced homes
- Freedom, IN: equally priced homes
- Carp, IN: higher priced homes
- New Hope, IN: equally priced homes
Cities with Similar Populations
- Tipton, IN: higher priced homes
- Byron, IL: higher priced homes
- Caddo Mills, TX: higher priced homes
- Caldwell, OH: less expensive homes
- Calhoun, LA: higher priced homes
- Camden, TN: less expensive homes
- Camilla, GA: less expensive homes
- Camp Pendleton North, CA: higher priced homes
- Camp Swift, TX: higher priced homes
- Campbell, OH: less expensive homes
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