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 $150,092, lower than the Michigan average of $196,062.
The average cost of rent is $1,109/mo in Spencer, primarily driven by the current value of real estate in the Spencer area. While nearly 39.92% of residents own their homes outright in Spencer, 7.32% rent.
Housing affordability isn’t just about home prices, though. The average household income in Spencer is $4,887 per month. Households that rent pay about 22.69% of their income on rent here. Spencer's most expensive areas are in the southwestern regions, while the cheapest areas are in the eastern parts of the city.
Nearby Cities
- O'neil, MI: equally priced homes
- South Boardman, MI: less expensive homes
- Kalkaska, MI: less expensive homes
- Lodi, MI: less expensive homes
- Fife Lake, MI: equally priced homes
- Stittsville, MI: less expensive homes
- Moorestown, MI: less expensive homes
- Rapid City, MI: higher priced homes
- McIntyre Landing, MI: equally priced homes
- Williamsburg, MI: higher priced homes
Cities with Similar Populations
- Marquand, MO: equally priced homes
- Laupahoehoe, HI: higher priced homes
- Lemitar, NM: equally priced homes
- Lesslie, SC: less expensive homes
- Liberty Mills, IN: equally priced homes
- Yorkshire, NY: less expensive homes
- Wyoming, IA: less expensive homes
- Littcarr, KY: less expensive homes
- Lone Star, LA: less expensive homes
- Wynona, OK: less expensive homes
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