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These days, finding an affordable place to live in the Spencerville area can be challenging. Home prices in Spencerville are now at a median cost of $323,789, higher than the Indiana average of $232,932.
The average cost of rent is $1,343/mo in Spencerville, primarily driven by the current value of real estate in the Spencerville area. In Spencerville, 7.15% of households rent, and 37.23% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Spencerville is $8,254 per month. Households that rent pay about 16.27% of their income on rent here. Spencerville’s most expensive areas are in the southwestern regions, while the cheapest areas are in the northeastern parts of the city.
Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.
Nearby Cities
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