Last updated: 2024 BLS data · Page refreshed:
Spencer has a population of 5,661 with a median age of 53.4. Here is the racial and ethnic breakdown of the population:
| Demographic | Value |
|---|---|
| Total Population | 5,661 |
| Median Age | 53.4 |
| White | 93.4% |
| Black or African American | 0.2% |
| Asian | 3.6% |
| Hispanic or Latino | 4.5% |
The median household income in Spencer is $59,931, which is 25.7% below the national median of $80,610. The per capita income is $38,770. The poverty rate is 15.8%.
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In Spencer, 87.4% of residents age 25+ have a high school diploma or higher, and 16.8% hold a bachelor's degree or higher (5.3% with a graduate or professional degree).
| Education Level | % of Adults (25+) |
|---|---|
| High School Diploma or Higher | 87.4% |
| Bachelor's Degree or Higher | 16.8% |
| Graduate or Professional Degree | 5.3% |
The median home value in Spencer is $341,300, above the national median of $303,400. The median monthly rent is $1,049. The homeownership rate is 40.2%.
| Housing Metric | Value |
|---|---|
| Median Home Value | $341,300 |
| Median Monthly Rent | $1,049 |
| Homeownership Rate | 40.2% |
| Vacancy Rate | 10.7% |
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