Living in Spencer, Nebraska
Cost of living, income, home prices, rent and demographics of Spencer · Census data 2020–2024
Spencer has 312 residents with a median age of 55.8. The median household income is $58,667 (23% lower than the Nebraska median), the median home value is $82,500, the median rent is $713/month.
Spencer is a small town, so Census survey estimates have wide margins of error. Treat percentages as approximate.
Spencer at a glance
- Population
- 312
- Median age
- 55.8State: 37.2
- Median household income
- $58,667State: $76,475
- Median home value
- $82,500State: $238,600
- Median rent
- $713/moState: $1,072
- Homeowners
- 74%
- Bachelor's degree or higher
- 12.8%
- Average commute
- 18 min
Is Spencer a good place to live?
Pros: Home values 65% lower than the state median; an average commute of 18 minutes; unemployment of 1.2%; a poverty rate of 8.7%.
Cons: Median household income 23% lower than the Nebraska median.
The weather is best in June to September.
Cost of living in Spencer
Housing is the biggest part of the cost of living. In Spencer the median home value is $82,500, 75% lower than the U.S. median. Renters pay a median of $713 per month, which is 23.8% of household income. Homeowners with a mortgage pay $1,354 a month in housing costs.
Spencer median household income
The median household income in Spencer is $58,667 and the income per person is $31,841. 8.7% of residents live below the poverty line (Nebraska: 10.6%).
Housing in Spencer: homes for sale and rent
- Housing units
- 227
- Owner-occupied
- 74%
- Renter-occupied
- 26%
- Vacant
- 33.9%Includes seasonal homes
- Median year built
- 1953
- Average household size
- 2.08
33.9% of homes are vacant most of the year, a sign that Spencer has many vacation and second homes.
Spencer demographics
- Population
- 312
- Median age
- 55.8
- Under 18
- 17.6%
- 65 and older
- 34.6%
- Households
- 150
- Foreign-born
- 1.6%
- Veterans
- 10.5%Adults 18+
Hispanic or Latino can be of any race. Population history of Spencer ›
Education in Spencer
12.8% of adults 25 and older in Spencer have a bachelor's degree or higher (Nebraska: 34.6%), and 3.3% have a graduate or professional degree.
Jobs and commute in Spencer
- Unemployment rate
- 1.2%State: 3%
- Average commute
- 18 minState: 19 min
- Work from home
- 5.6%
- Drive alone
- 71.4%
- Public transit
- 0%
- Walk to work
- 12.4%
- Homes with broadband
- 86.7%
Spencer vs nearby towns
More for people moving to Spencer
Spencer ZIP code ›Weather and climate ›Living in Spencer: FAQ
What is the median household income in Spencer, NE?
The median household income in Spencer is $58,667, 23% lower than the Nebraska median of $76,475 (U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024).
What is the average home price in Spencer?
The median home value in Spencer is $82,500, compared with $238,600 in Nebraska.
How much is rent in Spencer?
The median gross rent in Spencer is $713 per month, about 23.8% of household income.
Is Spencer, NE a good place to live?
Pluses: home values 65% lower than the state median; an average commute of 18 minutes; unemployment of 1.2%; a poverty rate of 8.7%. Minuses: median household income 23% lower than the Nebraska median.
What is the median age in Spencer?
The median age in Spencer is 55.8 years (Nebraska: 37.2).
How long is the commute in Spencer?
The average commute to work in Spencer is 18 minutes; 5.6% of workers work from home.
What is the unemployment rate in Spencer?
The unemployment rate in Spencer is 1.2% (U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024).
How educated is Spencer?
12.8% of adults in Spencer have a bachelor's degree or higher.
Source: U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024 (margins of error apply, especially in small towns). Figures are in 2024 dollars.
Last updated: