Housing costs in Spencer?
A typical home costs
$162,000, which is 52.1% less expensive than the national average of
$338,100 and 16.9% less expensive than the average Iowa home, at
$194,900. Renting a two-bedroom unit in Spencer costs
$810 per month, which is 43.4% cheaper than the national average of
$1,430 and 14.8% cheaper than the state average of
$930.
Can I afford Spencer?
To live comfortably in Spencer I Metro Area, Iowa, a minimum annual income of
$30,960 for a family, and
$26,400 for a single person is recommended.
What does A.I. say about Spencer?
The cost of living in Spencer, IA Metro Area is significantly lower than the US average, coming in at 76.6 compared to the US average of 100. This low cost of living is likely part of why the median house value in this area is only $162000, much less than the US average of $338,100. With such a low cost of living and lower house values, Spencer, IA Metro Area could be a great place for people looking to save money on their day-to-day expenses and housing costs.