Spencer, OH
Full City Profile · Ohio · Lorain County County
3.6
/5.0
B+
Good
603
Population
609/sq mi density
$55,250
Median Income
$27,837 per capita
$154,400
Home Value
$327,783 Zillow
$832
Median Rent
29.9% income on rent
49°F
Avg Temperature
B+
Overall
3.6 / 5.0
Good overall score based on economy, affordability, safety and education
B+
Economy
3.9 / 5.0
$55,250 median income, 2.9% unemployment
A+
Affordability
5.0 / 5.0
$154,400 home value, $832/mo rent
D
Education
1.9 / 5.0
10.8% bachelor's degree or higher
Housing Overview
Median Home Value
$154,400
45% below
US avg: $281,900
Median Rent
$832/mo
28% below
US avg: $1,163/mo
Homeownership Rate
78.3%
20% above US avg (65.4%)
Total Housing Units
256
Median year built: 1941
Home Value by Source
Census Median
$154,400
Zillow (ZHVI)
$327,783
Census ACS, Zillow ZHVI, Redfin median sale price
Ownership vs. Renting
78.3%
Owner-Occupied
21.7%
Renter-Occupied
US avg: 65.4% owner-occupied
Fair Market Rents (HUD FY2026)
Studio
$816/mo
1 Bedroom
$873/mo
2 Bedroom
$1,092/mo
3 Bedroom
$1,388/mo
4 Bedroom
$1,550/mo
Census median rent:
$832/mo
Affordability & Housing Stock
Rent Burden
29.9%
of renters spending 30%+ of income on housing
4% below US avg (31.0%)
Median Year Built
1941
Average age of housing stock: 85 years
Homeownership Rate
78.3%
Complete Housing Data
Home Values
| Census Median Value | $154,400 |
| Zillow Home Value (ZHVI) | $327,783 |
Rent
| Census Median Rent | $832 |
| FMR Studio | $816 |
| FMR 1-Bedroom | $873 |
| FMR 2-Bedroom | $1,092 |
| FMR 3-Bedroom | $1,388 |
| FMR 4-Bedroom | $1,550 |
Market
Ownership & Stock
| Owner-Occupied | 78.3% |
| Renter-Occupied | 21.7% |
| Homeownership Rate | 78.3% |
| Total Housing Units | 256 |
| Median Year Built | 1941 |
| Rent Burden | 29.9% |