Spencer, IN County is a great place to live with many good employment opportunities. It is home to a variety of businesses, including medical and healthcare facilities, retail stores, restaurants, and automotive services. The cost of living in Spencer is relatively low when compared to the national average with two-bedroom rental prices at $830 compared to $1,430 nationally. Additionally, Grocery Cost Index in Spencer is 92 versus 100 in the US which makes it an attractive location for budget conscious families. The local economy is centered around service based industries such as healthcare and education with many small businesses contributing to the overall economic growth of the region.
Spencer County has an unemployment rate of 4.3%. The US average is 6.0%.
Spencer County has seen the job market increase by 0.3% over the last year. Future job growth over the next ten years is predicted to be 26.2%, which is lower than the US average of 33.5%.
Tax Rates for Spencer County
- The Sales Tax Rate for Spencer County is 7.0%. The US average is 7.3%.
- The Income Tax Rate for Spencer County is 4.0%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Spencer County
- The average income of a Spencer County resident is $24,346 a year. The US average is $28,555 a year.
- The Median household income of a Spencer County resident is $59,624 a year. The US average is $69,021 a year.