Spencer, IN
2,481Residents
$48,378Median household income
$798/moMedian gross rent
$162,900Median home value
51.7Median age
21%Adults with a bachelor’s degree or higher
67%Homes lived in by their owners
3.4×Home value to household income
Median rent takes about 20% of the median household income in Spencer.
What pay do you need to rent here?
To keep rent at or below 30% of gross pay, you would need about $32,000 a year. In Indiana that leaves roughly $2,244 a month after tax. See the full paycheck breakdown for $30,000.
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Source: Census ACS 2024 ACS 5-year, places. Small places carry larger margins of error.