Spencer, Nebraska is a small town located in the Midwest of the United States. It is home to diverse local businesses such as retail stores, restaurants, and service providers. The cost of living in Spencer is quite reasonable; a two bedroom rent averages at $850, which is almost half of the national average for two bedroom rent which is $1,430. Additionally, groceries are also relatively cheaper in Spencer with an index score of 96 compared to 100 nationally. With such low costs of living and varied local business offerings, Spencer Nebraska can be an ideal living destination for anyone looking for value for money.
Spencer has an unemployment rate of 2.1%. The US average is 6.0%.
Spencer has seen the job market decrease by -0.6% over the last year. Future job growth over the next ten years is predicted to be 21.0%, which is lower than the US average of 33.5%.
Tax Rates for Spencer
- The Sales Tax Rate for Spencer is 5.5%. The US average is 7.3%.
- The Income Tax Rate for Spencer is 6.8%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Spencer
- The average income of a Spencer resident is $20,543 a year. The US average is $28,555 a year.
- The Median household income of a Spencer resident is $44,911 a year. The US average is $69,021 a year.