Living in Spencer, North Carolina
Cost of living, income, home prices, rent and demographics of Spencer · Census data 2020–2024
Spencer has 3,349 residents with a median age of 44.2. The median household income is $65,465 (10% lower than the North Carolina median), the median home value is $201,700, the median rent is $1,000/month.
Spencer at a glance
- Population
- 3,349
- Median age
- 44.2State: 39.1
- Median household income
- $65,465State: $72,388
- Median home value
- $201,700State: $288,900
- Median rent
- $1,000/moState: $1,228
- Homeowners
- 72.7%
- Bachelor's degree or higher
- 25.6%
- Average commute
- 32 min
Is Spencer a good place to live?
Pros: Home values 30% lower than the state median; a poverty rate of 11.2%.
Cons: Median household income 10% lower than the North Carolina median; an average commute of 32 minutes; unemployment of 7.1%.
The weather is best in April–May and September–October.
Cost of living in Spencer
Housing is the biggest part of the cost of living. In Spencer the median home value is $201,700, 39% lower than the U.S. median. Renters pay a median of $1,000 per month, which is 31% of household income. Homeowners with a mortgage pay $1,336 a month in housing costs.
Spencer median household income
The median household income in Spencer is $65,465 and the income per person is $34,584. 11.2% of residents live below the poverty line (North Carolina: 13%).
Housing in Spencer: homes for sale and rent
- Housing units
- 1,632
- Owner-occupied
- 72.7%
- Renter-occupied
- 27.3%
- Vacant
- 16.1%Includes seasonal homes
- Median year built
- 1950
- Average household size
- 2.40
Spencer demographics
- Population
- 3,349
- Median age
- 44.2
- Under 18
- 19%
- 65 and older
- 23.4%
- Households
- 1,370
- Foreign-born
- 1.8%
- Veterans
- 8.8%Adults 18+
Hispanic or Latino can be of any race. Population history of Spencer ›
Education in Spencer
25.6% of adults 25 and older in Spencer have a bachelor's degree or higher (North Carolina: 35.7%), and 8.9% have a graduate or professional degree.
Jobs and commute in Spencer
- Unemployment rate
- 7.1%State: 4.7%
- Average commute
- 32 minState: 25 min
- Work from home
- 18.7%
- Drive alone
- 69%
- Public transit
- 0%
- Walk to work
- 0%
- Homes with broadband
- 89.6%
Spencer vs nearby towns
| Town | Population | Median income | Home value | Rent |
|---|---|---|---|---|
| Spencer | 3,349 | $65,465 | $201,700 | $1,000 |
| East Spencer | 1,434 | $34,417 | $112,000 | $677 |
| Salisbury | 35,825 | $53,716 | $242,500 | $1,071 |
| Granite Quarry | 3,043 | $57,981 | $257,300 | $1,099 |
| Tyro | 3,833 | $58,364 | $191,800 | $746 |
| Faith | 917 | $139,844 | $264,000 | $944 |
| Southmont | 1,525 | $91,307 | $424,100 | — |
| Rockwell | 2,782 | $69,632 | $237,200 | $952 |
| Lexington | 19,690 | $43,128 | $179,900 | $893 |
More for people moving to Spencer
Spencer ZIP code ›Weather and climate ›Living in Spencer: FAQ
What is the median household income in Spencer, NC?
The median household income in Spencer is $65,465, 10% lower than the North Carolina median of $72,388 (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 $201,700, compared with $288,900 in North Carolina.
How much is rent in Spencer?
The median gross rent in Spencer is $1,000 per month, about 31% of household income.
Is Spencer, NC a good place to live?
Pluses: home values 30% lower than the state median; a poverty rate of 11.2%. Minuses: median household income 10% lower than the North Carolina median; an average commute of 32 minutes; unemployment of 7.1%.
What is the median age in Spencer?
The median age in Spencer is 44.2 years (North Carolina: 39.1).
How long is the commute in Spencer?
The average commute to work in Spencer is 32 minutes; 18.7% of workers work from home.
What is the unemployment rate in Spencer?
The unemployment rate in Spencer is 7.1% (U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024).
How educated is Spencer?
25.6% 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.
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