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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 $115,017, lower than the West Virginia average of $177,366.
The average cost of rent is $681/mo in Spencer, primarily driven by the current value of real estate in the Spencer area. In Spencer, 29.85% of households rent, and 67.77% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Spencer is $3,181 per month. Households that rent pay about 21.40% of their income on rent here. Spencer’s most expensive areas are in the northeastern regions, while the cheapest areas are in the central parts of the city.
Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.
Nearby Cities
- Nancy Run, WV: higher priced homes
- Reedyville, WV: higher priced homes
- Clio, WV: equally priced homes
- Speed, WV: less expensive homes
- Clover, WV: equally priced homes
- Richardson, WV: higher priced homes
- Otto, WV: higher priced homes
- Reedy, WV: less expensive homes
- Peniel, WV: equally priced homes
- Countsville, WV: higher priced homes
Cities with Similar Populations
- Cotuit, MA: higher priced homes
- Sea Cliff, NY: higher priced homes
- Corning, AR: less expensive homes
- Newton Grove, NC: equally priced homes
- Seabeck, WA: higher priced homes
- Seagrove, NC: higher priced homes
- Rocky Ford, CO: higher priced homes
- Seminary, MS: higher priced homes
- Cottageville, SC: higher priced homes
- Seneca, MO: higher priced homes
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