Housing costs in Spencer?
A typical home costs
$199,200, which is 41.1% less expensive than the national average of
$338,100 and 10.1% less expensive than the average Indiana home, at
$221,600. Renting a two-bedroom unit in Spencer costs
$920 per month, which is 35.7% cheaper than the national average of
$1,430 and 6.5% cheaper than the state average of
$980.
Can I afford Spencer?
To live comfortably in Spencer (zip 47460), Indiana, a minimum annual income of
$38,160 for a family, and
$28,400 for a single person is recommended.
What does A.I. say about Spencer?
The cost of living in 47460 Spencer, IN is fairly affordable compared to other areas. The overall cost of living index is 79.9 which is lower than the state average of 88.4 and the national average of 100. Housing costs are especially low with a median home value coming in at $93,100 and an average rent price of $600 per month. Groceries, utilities, and transportation are also reasonably priced. In addition, there are no state or local income taxes meaning that more money stays in residents' pockets. All this makes 47460 Spencer, IN an attractive place to live for those looking for affordability.