What is the population of Spencer town?

Spencer town has 2,308 residents on Census ACS 2019-2023 ACS 5-year estimates, ranking #206 of 976 in Indiana.

What is the median household income in Spencer town?

Median household income in Spencer town is $47,994 a year, 38.9% below the national figure of $78,538.

How much does it cost to rent or buy in Spencer town?

Median gross rent is $860 a month and the median home value is $146,300, so rent absorbs about 21.5% of median household income.

Is Spencer town affordable compared with the rest of the US?

Homes cost about 3× the local median income here versus roughly 3.9× nationally, so Spencer town is more affordable to buy in than the typical US market, and rent takes 21.5% of median income against the 30% cost-burden line.

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Indiana · Census place 71972

Spencer, IN population, income and ZIP codes

Quick answer

The population of the city of Spencer, Indiana (Spencer, IN — Census place “Spencer town”) is 2,308 residents, ranking #206 of 976 places in Indiana. Median household income is $47,994, the median home is worth $146,300 and median gross rent runs $860 a month. Looking for the Spencer Indiana ZIP code list? 1 ZIP codes serve Spencer, IN: 47460.

Population: 2,308Spencer town residents
Median household income: $47,994Past 12 months, inflation adjusted
Median home value: $146,300Owner-occupied units
Median gross rent: $860Rent plus utilities, monthly
Median age: 49.4 yrsAll residents
Homeownership rate: 65.6%Owner-occupied households

Spencer ZIP codes (Indiana)

Census ZCTAs whose delivery area overlaps Spencer.

The Spencer IN ZIP code list below covers 1 ZIP code. Open any one for its population, income, housing and rent profile.

47460

What the numbers mean in Spencer town

Housing cost measured against local earnings.

A household earning the Spencer town median would spend about 21.5% of gross income on the median rent. The 30% mark is the federal threshold for cost burden, so anything above it signals a stretched rental market. The median home costs 3.0× the median household income; nationally that ratio sits near 4.5×. Poverty affects 13.9% of residents and 65.6% of households own their home.

Source: US Census Bureau, ACS 2019-2023 5-year estimates · rates as published for 2019-2023 ACS 5-year

Spencer town, IN in context

How this area compares with national benchmarks.

Spencer town is a small town in Indiana, with 2,308 residents counted in the Census American Community Survey 2019-2023 ACS 5-year estimates, which places it #206 of 976 ranked by population — larger than 78% of them. The median age here is 49.4 years against 39.1 nationally, a markedly older profile that usually tracks retirees staying put and younger households leaving for work. At this population the ACS sample is small, so the margin of error around every dollar figure below is wide — treat the numbers as a band, not a point, and expect them to move between annual releases without the place itself changing.

Households in Spencer town earn a median of $47,994 a year, 38.9% below the national figure of $78,538 and 22% below the $61,527 median for the 355 Indiana cities we cover. The median is the midpoint household, not an average, so a handful of very high earners cannot drag it upward the way they distort a mean. Poverty reaches 13.9% of residents here, above the 12.4% national rate.

The typical owner-occupied home in Spencer town is valued at $146,300, 51.8% below the national figure and within a couple of points of the $145,600 peer median, while median gross rent runs $860 a month, 38.8% below the national figure, or roughly $10,320 across a full year. A household on the local median income would put about 21.5% of gross pay toward that rent against the federal 30% cost-burden threshold, so renting here is within the standard affordability guideline. The home-price-to-income ratio works out to 3×, against roughly 3.9× nationally, so buying is easier here than in the average US market. 65.6% of occupied homes are owner-occupied versus 65% nationally, so the market leans toward owners. The rent line includes utilities paid by the tenant, a definition worth remembering when comparing it against a landlord's quoted rate.

All values below were released by the Census for this exact geography, with no gap-filling on our side. Small-area estimates still carry wider margins of error than state or national figures, so check the linked ACS tables before relying on them for lending, appraisal or legal work.

Compare with nearby places

Places of similar size in Indiana.

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Frequently asked questions

Common questions about this area.

What is the population of Spencer town?: Spencer town has 2,308 residents on Census ACS 2019-2023 ACS 5-year estimates, ranking #206 of 976 in Indiana.
What is the median household income in Spencer town?: Median household income in Spencer town is $47,994 a year, 38.9% below the national figure of $78,538.
How much does it cost to rent or buy in Spencer town?: Median gross rent is $860 a month and the median home value is $146,300, so rent absorbs about 21.5% of median household income.
Is Spencer town affordable compared with the rest of the US?: Homes cost about 3× the local median income here versus roughly 3.9× nationally, so Spencer town is more affordable to buy in than the typical US market, and rent takes 21.5% of median income against the 30% cost-burden line.
How current is this Spencer town data?: All figures come from the US Census Bureau American Community Survey 2019-2023 ACS 5-year five-year estimates. At this population the ACS sample is small, so the margin of error around every dollar figure below is wide — treat the numbers as a band, not a point, and expect them to move between annual releases without the place itself changing.