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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 $238,409, higher than the Ohio average of $236,816.
The average cost of rent is $1,180/mo in Spencer, primarily driven by the current value of real estate in the Spencer area. In Spencer, 10.92% of households rent, and 34.39% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Spencer is $7,395 per month. Households that rent pay about 15.96% 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.
Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.
Nearby Cities
- Homerville, OH: higher priced homes
- Penfield, OH: higher priced homes
- Litchfield, OH: higher priced homes
- Huntington, OH: higher priced homes
- Lodi, OH: less expensive homes
- Sullivan, OH: equally priced homes
- Wellington, OH: equally priced homes
- Westfield Center, OH: higher priced homes
- Lester, OH: higher priced homes
- West Salem, OH: less expensive homes
Cities with Similar Populations
- Blue Springs, MS: less expensive homes
- Bridgeport, AL: less expensive homes
- Brooksville, KY: less expensive homes
- Bunker Hill, IL: less expensive homes
- Canajoharie, NY: less expensive homes
- Cliffwood, NJ: higher priced homes
- Columbus, MI: higher priced homes
- Combes, TX: less expensive homes
- Conrad, MT: equally priced homes
- Culver, IN: equally priced homes
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