Spencer, OK is a small town located in Oklahoma that offers a modest cost of living. According to reports, the average two bedroom rent is only $870 compared to the US average which is $1,430. Additionally, the Grocery Cost Index for Spencer, OK is 92 compared to 100 in the US. This makes it much more affordable for residents to purchase goods and services. As far as local business goes, some top employers include RCB Bank, Walmart Distribution Center and Dover Fertilizer & Chemical. All together, these companies help make Spencer an ideal place to live with a low cost of living.
Spencer has an unemployment rate of 4.4%. The US average is 6.0%.
Spencer has seen the job market decrease by -3.4% over the last year. Future job growth over the next ten years is predicted to be 31.7%, which is lower than the US average of 33.5%.
Tax Rates for Spencer
- The Sales Tax Rate for Spencer is 8.6%. The US average is 7.3%.
- The Income Tax Rate for Spencer is 5.0%. 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 $25,113 a year. The US average is $37,638 a year.
- The Median household income of a Spencer resident is $48,575 a year. The US average is $69,021 a year.