Spencer, IN
Full City Profile · Indiana · Owen County County
3.7
/5.0
B+
Good
2,308
Population
1,350/sq mi density
$47,994
Median Income
$31,716 per capita
$146,300
Home Value
$252,223 Zillow
$860
Median Rent
24.1% income on rent
53°F
Avg Temperature
B+
Overall
3.7 / 5.0
Good overall score based on economy, affordability, safety and education
B+
Economy
3.6 / 5.0
$47,994 median income, 3.1% unemployment
A+
Affordability
5.0 / 5.0
$146,300 home value, $860/mo rent
C
Education
2.5 / 5.0
18.3% bachelor's degree or higher
Income Overview
Median Household Income
$47,994
36% below
US avg: $75,149
Per Capita Income
$31,716
19% below
US avg: $39,052
Unemployment Rate
3.1%
14% below
US avg: 3.6%
Poverty Rate
9.3%
25% below
US avg: 12.4%
Income Comparison: Spencer vs. U.S. Average
Each bar shows Spencer’s value as a percentage of the national average (100% line = U.S. avg)
Median Household
US: $75,149
$47,994
64%
Per Capita
US: $39,052
$31,716
81%
IRS Avg AGI
US: $72,000
$57,706
80%
Avg Weekly Wage
US: $1,432
$1,108
77%
Thin line = U.S. average (100%)
Employment & Commute
Avg Weekly Wage
$1,108
23% below US avg ($1,432)
Mean Commute Time
19 min
32% below US avg (28 min)
Work From Home
4.9%
68% below US avg (15.2%)
Drive Alone
81.4%
11% above US avg (73.2%)
Public Transit
0.0%
100% below US avg (5.0%)
County GDP
$760M
County-level GDP (BEA 2024)
How Residents Get to Work
Drive Alone
81.4%
Public Transit
0%
Work From Home
4.9%
Other
13.7%
Average commute time
19 minutes
US avg: 28 min
Business Landscape
Total Establishments
330
Restaurants
30
Healthcare
29
Retail
52
Manufacturing
32
Tax & Financial
IRS Avg Adjusted Gross Income
$57,706
20% below US avg ($72,000)
Avg Property Tax
$2,317
34% below US avg ($3,500)
Cost of Living Index
93.3
Below national average (100 = US avg)
Complete Economy Data
Income & Wages
| Median Household Income | $47,994 |
| Per Capita Income | $31,716 |
| IRS Avg Adjusted Gross Income | $57,706 |
| Avg Weekly Wage | $1,108 |
| County GDP | $760M |
Hardship Indicators
| Unemployment Rate | 3.1% |
| Poverty Rate | 9.3% |
| Gini Coefficient | 0.439 |
| Cost of Living Index | 93.3 |
Commute
| Mean Commute | 19 minutes |
| Drive Alone | 81.4% |
| Public Transit | 0.0% |
| Work From Home | 4.9% |
Businesses
| Total Establishments | 330 |
| Restaurants | 30 |
| Healthcare | 29 |
| Retail | 52 |
| Manufacturing | 32 |
Tax
| IRS Avg AGI | $57,706 |
| Avg Property Tax | $2,317 |