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Spencer, IN
Full City Profile · Indiana · Owen County County
3.1
/5.0
B
Good
2,308
Population
1,350/sq mi density
$47,994
Median Income
$31,716 per capita
$146,300
Home Value
$242,220 Zillow
$860
Median Rent
24.1% income on rent
53°F
Avg Temperature
293 sunny days/yr
354
Violent Crime/100K
2,968 property/100K
B
Overall
3.1 / 5.0
Good overall score based on economy, affordability, safety and education
B+
Economy
3.8 / 5.0
$47,994 median income, 1.7% unemployment
A+
Affordability
5.0 / 5.0
$146,300 home value, $860/mo rent
F
Safety
1.0 / 5.0
354 violent crimes/100K
C
Education
2.5 / 5.0
18.3% bachelor's degree or higher
Housing Overview
Median Home Value
$146,300
48% below
US avg: $281,900
Median Rent
$860/mo
26% below
US avg: $1,163/mo
Homeownership Rate
65.6%
0% below US avg (65.4%)
Total Housing Units
1,241
Median year built: 1951
Home Value by Source
Census Median
$146,300
Zillow (ZHVI)
$242,220
Census ACS, Zillow ZHVI, Redfin median sale price
Ownership vs. Renting
65.6%
Owner-Occupied
34.4%
Renter-Occupied
US avg: 65.4% owner-occupied
Fair Market Rents (HUD FY2026)
Studio
$659/mo
1 Bedroom
$729/mo
2 Bedroom
$956/mo
3 Bedroom
$1,330/mo
4 Bedroom
$1,382/mo
Census median rent:
$860/mo
Affordability & Housing Stock
Rent Burden
24.1%
of renters spending 30%+ of income on housing
22% below US avg (31.0%)
Median Year Built
1951
Average age of housing stock: 75 years
Homeownership Rate
65.6%
Complete Housing Data
Home Values
| Census Median Value | $146,300 |
| Zillow Home Value (ZHVI) | $242,220 |
Rent
| Census Median Rent | $860 |
| FMR Studio | $659 |
| FMR 1-Bedroom | $729 |
| FMR 2-Bedroom | $956 |
| FMR 3-Bedroom | $1,330 |
| FMR 4-Bedroom | $1,382 |
Market
Ownership & Stock
| Owner-Occupied | 65.6% |
| Renter-Occupied | 34.4% |
| Homeownership Rate | 65.6% |
| Total Housing Units | 1,241 |
| Median Year Built | 1951 |
| Rent Burden | 24.1% |