What are the schools like in Spencer, IN?

Spencer is served primarily by Spencer-Owen Community Schools. The district operates 4 elementary schools, 1 middle schools, and 1 high schools with a student-to-teacher ratio of 13.1:1.

What is the median household income in Spencer?

The median household income in Spencer, IN is $45,536 according to the most recent US Census American Community Survey 5-year estimates. The unemployment rate is 6.0%.

What is the weather like in Spencer, IN?

Spencer has an average high temperature of 37.2°F in January and 85.4°F in July. Annual precipitation averages 49.7 inches and annual snowfall averages 15.8 inches.

Spencer, IN Cost of Living, Crime & Is It a Good Place to Live? (2026)

Q: Is Spencer, IN affordable or expensive?

Spencer's cost of living index is 93, where 100 represents the national average. This means Spencer is 7% less expensive than the average US city. The median home value is $128,000 and the median rent is $784 per month.

Q: What is the crime rate in Spencer, IN?

Crime rate data for Spencer is not currently available from the FBI's reported data.

Is Spencer, IN a Good Place to Live?

Spencer is a small town of 2,240 in Indiana, with a median household income of $45,536 and a 6.0% unemployment rate. Its cost of living index is 93 (US average = 100), which is 7% below the national average.

Strengths: Spencer stands out for an affordable cost of living, below-average home prices, solid school ratings (B), short average commutes.

Trade-offs: Potential downsides include an elevated unemployment rate. Whether Spencer is right for you depends on your priorities — the full breakdown is below.

All Spencer city data on this page comes from official government sources — the US Census Bureau, FBI, NCES, BEA, and NOAA — updated annually.

Cost of Living

Index: 93.4

Spencer's overall cost of living index is 93.4, where 100 represents the US national average. Living in Spencer costs roughly 7% less than the average American city.

Metric	Spencer, IN	National Avg
Median Home Value	$128,000	$244,900
Median Monthly Rent	$784	$1,163
Homeownership Rate	64.9%	65.9%
Median Household Income	$45,536	$74,755

Crime & Safety

Crime data for Spencer is not currently available from the FBI's Uniform Crime Reporting program. Not all local agencies report to the UCR each year.

Schools & Education

Spencer is served primarily by Spencer-Owen Community Schools. The student-to-teacher ratio is 13.1:1 (better than the national average of ~16:1).

Metric	Spencer, IN	National Avg
School District	Spencer-Owen Community Schools	—
Elementary Schools	4	—
Middle Schools	1	—
High Schools	1	—
Student/Teacher Ratio	13.1:1	16:1
Bachelor's Degree or Higher	16.0%	35.4%
High School Diploma or Higher	83.2%	91.1%

Weather & Climate

Spencer sees average highs of 37.2°F in January and 85.4°F in July, with 49.7 inches of annual precipitation and 15.8 inches of snow per year.

Metric	Spencer, IN
Average High — January	37.2°F
Average High — July	85.4°F
Annual Precipitation	49.7"
Annual Snowfall	15.8"

Demographics

Metric	Spencer, IN	National Avg
Population	2,240	—
Median Age	46.8	38.9
Unemployment Rate	6.0%	3.7%
Avg Commute Time	23.1 min	26 min
White (non-Hispanic)	95.2%	59.3%
Black or African American	0.4%	13.6%
Hispanic or Latino	1.3%	18.9%
Asian	1.6%	6.3%
Under 18	16.1%	22.2%
65 and over	28.3%	16.8%

Nearby Cities

Stinesville, IN 7 mi Gosport, IN 7 mi Ellettsville, IN 9 mi Patricksburg, IN 10 mi Paragon, IN 13 mi

ZIP Codes in Spencer

Spencer, IN is covered by 1 ZIP code:

47460

Spencer vs Other Cities

Spencer, IN vs Stinesville, IN Spencer, IN vs Gosport, IN Spencer, IN vs Ellettsville, IN Spencer, IN vs Patricksburg, IN Spencer, IN vs Paragon, IN

Frequently Asked Questions

Is Spencer, IN affordable or expensive?

Spencer's cost of living index is 93, where 100 is the national average. That makes Spencer roughly 7% less expensive than a typical US city — a meaningful affordability advantage. The median home price is $128,000 and median rent is $784/month.

What is the crime rate in Spencer, IN?

Crime data for Spencer is not available in the current FBI UCR reporting year. Not all jurisdictions submit data annually.

What are the schools like in Spencer?

Public schools in Spencer are operated by Spencer-Owen Community Schools. The district has 4 elementary, 1 middle, and 1 high schools. The student-to-teacher ratio is 13.1:1. 16.0% of adults 25+ hold a bachelor's degree or higher.

Is Spencer, IN a good place to live?

Spencer, IN has a population of 2,240, a median household income of $45,536, and an unemployment rate of 6.0%. It offers below-average costs of living, which stretches take-home pay further than in most American cities. Whether it's right for you depends on your priorities — use the compare tool above to stack it against another city you're considering.

What is the weather like in Spencer?

Spencer averages 37.2°F in January and 85.4°F in July. Annual rainfall is 49.7 inches with about 15.8 inches of snow per year. Based on NOAA 30-year climate normals (1991–2020).

What ZIP codes are in Spencer?

Spencer, IN is covered by 1 ZIP code: 47460.

What is the population of Spencer?

The population of Spencer, Indiana is 2,240 with a median age of 46.8. Source: US Census ACS 5-Year Estimates.

What are the pros and cons of living in Spencer?

Key numbers for living in Spencer: cost of living index 93 (100 = US average), median home $128,000, median household income $45,536, schools rated B. Whether these are benefits or drawbacks depends on where you're coming from — compare Spencer side by side with your current city to see the trade-offs.