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Affordable
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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 $217,918, lower than the North Carolina average of $323,314.
The average cost of rent is $1,086/mo in Spencer, primarily driven by the current value of real estate in the Spencer area. In Spencer, 27.86% of households rent, and 27.10% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Spencer is $6,053 per month. Households that rent pay about 17.94% of their income on rent here. Spencer’s most expensive areas are in the southwestern regions, while the cheapest areas are in the western parts of the city.
Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.
Nearby Cities
- East Spencer, NC: less expensive homes
- Salisbury, NC: higher priced homes
- Linwood, NC: equally priced homes
- Granite Quarry, NC: higher priced homes
- Southmont, NC: higher priced homes
- Faith, NC: higher priced homes
- Cotton Grove, NC: less expensive homes
- Barber, NC: equally priced homes
- Rockwell, NC: equally priced homes
- Woodleaf, NC: equally priced homes
Cities with Similar Populations
- Provincetown, MA: higher priced homes
- Rainbow, CA: higher priced homes
- Dalton, PA: higher priced homes
- Danbury, TX: higher priced homes
- Ragley, LA: less expensive homes
- Dannemora, NY: less expensive homes
- Ragland, AL: less expensive homes
- Darien, GA: equally priced homes
- Quincy, CA: higher priced homes
- Quaker Hill, CT: higher priced homes
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