Housing costs in Spencer?
A typical home costs
$365,200, which is 8.0% more expensive than the national average of
$338,100 and 34.5% less expensive than the average Massachusetts home, at
$557,300. Renting a two-bedroom unit in Spencer costs
$1,300 per month, which is 9.1% cheaper than the national average of
$1,430 and 64.6% cheaper than the state average of
$2,140.
Can I afford Spencer?
To live comfortably in Spencer, Massachusetts, a minimum annual income of
$69,840 for a family, and
$40,000 for a single person is recommended.
What does A.I. say about Spencer?
The cost of living in Spencer, MA is relatively low compared to other towns in the state. The median home value is $225,000, which is well below the national average of $229,700. Additionally, the cost of goods and services are generally lower than larger cities nearby such as Worcester and Boston. Taxes are also comparatively low; income tax is 5.1%, property tax is 12.6%, and sales tax is 6.25%. All of these factors make Spencer an attractive place for people looking to move into Massachusetts but wanting to keep their costs down.