Housing costs in Spencer?
A typical home costs
$212,200, which is 37.2% less expensive than the national average of
$338,100 and 4.2% less expensive than the average Indiana home, at
$221,600. Renting a two-bedroom unit in Spencer costs
$890 per month, which is 37.8% cheaper than the national average of
$1,430 and 10.1% cheaper than the state average of
$980.
Can I afford Spencer?
To live comfortably in Spencer, Indiana, a minimum annual income of
$40,680 for a family, and
$27,200 for a single person is recommended.
What does A.I. say about Spencer?
The cost of living in Spencer, IN is relatively low compared to other parts of the country. The median home value in Spencer is around $96,500, which is significantly lower than the national average. The median rent price in Spencer is also reasonable at approximately $636 per month. Groceries and utilities are also relatively cheap in Spencer, making it a great place for those looking to save money on their living expenses. Overall, the cost of living in Spencer is quite affordable and worth considering when budgeting for a new home or apartment.