Spencer is a city of 2,481 people in Indiana. At a median age of 51.7, this is an older place than the country as a whole. 21% of adults hold a bachelor's degree, below the 36% national rate. Home values have more than doubled since 2000, reaching $162,900. 2% of people here were born outside the United States. That trails the Indiana median by roughly 33%.
At a glance
Lower income
median household income $48,378, below the US median
US median: $82,259
Older
median age 51.7
US median: 38.9
Less educated
21% hold a bachelor's degree
US average: 36%
Stable housing
home values roughly flat, inflation adjusted
US median home: $376,019
Unique to this place
What stands out about Spencer
What changed most since 1990
Median age34.4 → 51.7(+17.3 years)US over the same years: +6.0 years
White share99.8% → 92.1%(−7.7 pts)US over the same years: −17.8 pts
Adults with a bachelor's degree11.8% → 21.0%(+9.2 pts)US over the same years: +15.3 pts
Spencer's population equals 11% of Owen County's. Its number of households without a car equals 33% of the county's. Its number of foreign-born residents equals 25% of the county's.
Shares are "alone or in combination": a person with both Medicare and Medicaid counts in each, so categories overlap and do not sum to 100%.
Section 09 · Service history
Veterans
Veterans by period of service, 2024
Gulf War (2001 or later)41.4%(55)
US avg: 26.4%
Gulf War (1990s)18%(24)
US avg: 24.3%
Vietnam era28.6%(38)
US avg: 33.1%
Korean War6%(8)
US avg: 4.5%
World War II3%(4)
US avg: 1%
Share of the 133 veterans here. A veteran who served across eras counts in each, so shares can total more than 100%. Peacetime-only service is included in the total but not shown as an era.
BAR + DOT: THIS PLACE · TICK: US AVERAGE
Over time
Spencer, decade by decade
Spencer population, inflation-adjusted income and home value, education, and diversity by year
Year
Population
Median household income
Median home value
Bachelor's degree+
Diversity score
1990
2,536
$48,083
$101,523
11.8%
0.6
2000
2,508
$52,216
$136,988
9.0%
4.6
2010
2,217
$49,390
$125,875
8.8%
8.3
2020
2,454
$41,580
$119,265
14.4%
19.5
2024
2,481
$48,378
$162,900
21.0%
18.8
Census years come from the decennial census and the latest year from the American Community Survey, so part of any change between those two rows can reflect the different surveys. Dollar figures are adjusted for inflation to 2024 dollars; a figure ending in "+" was at the Census Bureau's reporting cap that year. The diversity score runs from 0 to 100; see how it's calculated.
