The housing market in Spencer, IA Metro Area is showing great potential for appreciation. The median value of homes in the area is $162,000, far below the national average of $338,100. Additionally, the annual house appreciation rate for the region is 11.31%, which has been higher than the national average of 8.27%. This suggests that investing in a home in Spencer may be a good decision and could yield higher returns over time. With its lower home prices and higher appreciation rate, this makes Spencer an attractive choice for anyone looking to purchase or invest in a home.
The median home cost in Spencer Metro Area is $162,000. Home appreciation the last 10 years has been 64.3%. Home Appreciation in Spencer Metro Area is up 15.0%.
Average Age of Homes
- The median age of Spencer Metro Area real estate is 55 years old
The Rental Market in Spencer Metro Area
- Renters make up 23.5% of the Spencer Metro Area population
- 2.7% of houses and apartments in Spencer Metro Area, are available to rent
DID YOU KNOW
Buying a home is the biggest single purchase most people make during their lives. The second largest is most often an automobile.