Housing costs in Spencer?
A typical home costs
$165,000, which is 51.2% less expensive than the national average of
$338,100 and 15.3% less expensive than the average Iowa home, at
$194,900. Renting a two-bedroom unit in Spencer costs
$810 per month, which is 12.9% cheaper than the national average of
$930 and close to the state average of
$810.
Can I afford Spencer?
To live comfortably in Spencer (zip 51301), Iowa, a minimum annual income of
$31,680 for a family, and
$26,400 for a single person is recommended.
What does A.I. say about Spencer?
Spencer, Iowa, located in ZIP code 51301, has a very affordable cost of living. According to the 2020 Cost of Living Index, Spencer boasts a score of 84.8, which is well below the national average of 100 and the state average of 90.2. This makes it an ideal place for families to settle down, as their money will stretch further than in many other places. Additionally, housing costs are particularly low at around 65% of the national average - providing even more savings for those who decide to call Spencer home. Furthermore, there are numerous recreational activities available in and around town that won't break the bank!