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CITY

Spencer

Indiana · 2,479 residents (2025 est.) · 1.594 sq mi
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The short version

Spencer has notably lower household income than the US average, with a median household income of $48,378. Population has held roughly steady since 2000. 21% of adults hold a bachelor's degree or higher, below the national rate of 36%. Median home value has more than doubled since 2000, reaching $162,900. With a median age of 51.7, the population is older than the US median of 38.9. Households here earn about 33% less than the Indiana median.

At a glance
Lower income
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
Section 01

Population & growth

Total population
2,481
−1%since 2000
from 2,508 in 2000
1990 – 2025
Population density
1,556 / sq mi
−1%since 2000
from 1,573 / sq mi in 2000
US average: 281
Median age
51.7
+34%since 2000
from 38.7 in 2000
US average: 38.9

PEP 2025 EST:2,479 residents (Census Bureau Vintage 2025, released March 2026)

Population, 1990 – 2024
2K2K2K3K3K1990201020202024Spencer
20242K
1990201020202024
Section 02

Income & economy

Median household income
$48,378
−7%inflation adjusted, since 2000
from $28,664 in 2000
US average: $82,259
1990 – 2024
Per capita income
$30,884
+95%since 2000
from $15,843 in 2000
US average: $44,673
Households earning $100K+
29.3%
+16.1 ptssince 2009
from 13.2% in 2009
US average: 53.3%
Poverty rate
14.1%
+4.6 ptssince 2000
from 9.5% in 2000
US average: 12.5%
Income inequality (Gini)
0.412
+1%since 2010
from 0.407 in 2010
US average: 0.476
Workforce by industry, 2024
Retail trade29.2%
US avg: 9.9%
Information9.5%
US avg: 10.8%
Other services4.8%
US avg: 6.7%
Public administration3.9%
US avg: 4.8%
Wholesale trade2.8%
US avg: 6.9%
Arts, entertainment, food2.8%
US avg: 1.9%
Agriculture, forestry, fishing2.1%
US avg: 1.6%
Construction2.1%
US avg: 1.2%
Finance & insurance1.6%
US avg: 5.9%
Professional, scientific, technical1%
US avg: 5.1%
Education & health services0.6%
US avg: 0.9%
Manufacturing0%
US avg: 0.4%
Transportation & warehousing0%
US avg: 2.2%
BARS: THIS PLACE · TICKS: US AVERAGE
Section 03

Housing

Median home value
$162,900
+19%inflation adjusted, since 2000
from $75,200 in 2000
US average: $376,019
1990 – 2024
Median gross rent
$798
−9%inflation adjusted, since 2000
from $481 in 2000
US average: $1,442
Owner-occupied
67.1%
+5.5 ptssince 2000
from 61.7% in 2000
32.9% rent
Vacancy rate
10.3%
+0.2 ptssince 2009
from 10.1% in 2009
US average: 10.0%
Owner cost-burdened
19.4%
−0.7 ptssince 2009
from 20.1% in 2009
US average: 22.9%
Renter cost-burdened
34.2%
−8.2 ptssince 2009
from 42.4% in 2009
US average: 47.4%
Afford Score
3.4
+28%since 2000
from 2.6 in 2000
1990 – 2024
Gentrification Score
63
RELATED:See current rent listings in Spencer on RentDataNow
Section 04

Race & ethnicity

2000
White, non-Hispanic98.1%(2,461)
Black0.2%(5)
Hispanic / Latino0.6%(15)
Asian0.4%(10)
Other0%
Diversity Score3%(75)
2024
White, non-Hispanic92.1%(2,285)
Black0.8%(21)
Hispanic / Latino2.5%(61)
Asian2.6%(65)
Other2%(49)
Diversity Score18.8%(465)
Diversity Score
19
+528%since 2000
from 3 in 2000
1990 – 2024
Section 05

Education

Bachelor's degree or higher
21.0%
+12.0 ptssince 2000
from 9.0% in 2000
US average: 35.6%
High school or higher
89.1%
+17.0 ptssince 2000
from 72.0% in 2000
US average: 89.6%
Graduate degree
9.6%
+5.6 ptssince 2000
from 4.1% in 2000
US average: 14.0%
Section 06

Commute & transportation

Average commute
17.8 min
−24%since 2000
from 23.5 min in 2000
US average: 26.5
Drive alone to work
78.0%
−3.1 ptssince 2009
from 81.1% in 2009
US average: 68.9%
Carpooled to work
4.4%
−4.3 ptssince 2009
from 8.8% in 2009
US average: 8.5%
Public transit
0.0%
Unchangedsince 2009
from 0.0% in 2009
US average: 3.2%
Worked from home
7.1%
+4.7 ptssince 2009
from 2.4% in 2009
US average: 15.0%
Walked to work
8.4%
+0.6 ptssince 2009
from 7.7% in 2009
US average: 2.4%
Biked to work
0.0%
Unchangedsince 2009
from 0.0% in 2009
US average: 0.4%
No vehicle available
7.5%
−0.6 ptssince 2009
from 8.1% in 2009
US average: 8.3%
Section 07

Work & employment

Unemployment rate
4.3%
−4.2 ptssince 2011
from 8.5% in 2011
US average: 5.2%
Labor force participation
55.2%
−0.9 ptssince 2011
from 56.1% in 2011
US average: 63.5%
Self-employed
16.8%
+10.9 ptssince 2009
from 5.9% in 2009
US average: 13.1%
Management & professional
24.2%
−33.6 ptssince 2009
from 57.8% in 2009
US average: 42.5%
Section 08

People & community

Male
49.3%
−0.9 ptssince 2009
from 50.2% in 2009
Female
50.7%
+0.9 ptssince 2009
from 49.8% in 2009
Foreign born
1.8%
−2.8 ptssince 2009
from 4.6% in 2009
US average: 14.1%
Veterans
6.2%
−42.6 ptssince 2009
from 48.8% in 2009
US average: 6.2%
With a disability
20.8%
+2.3 ptssince 2012
from 18.5% in 2012
US average: 13.3%
Uninsured
7.0%
−74.5 ptssince 2013
from 81.5% in 2013
US average: 8.4%
Broadband at home
77.2%
+13.3 ptssince 2017
from 63.9% in 2017
US average: 91.0%
English only at home
96.4%
+0.3 ptssince 2016
from 96.1% in 2016
US average: 77.7%
Spanish at home
1.4%
+1.1 ptssince 2016
from 0.2% in 2016
US average: 13.6%
Drill deeper

Places similar to Spencer

Carrabelle
Pop 2,572
Lake Placid
Pop 2,599
Harlem
Pop 2,420
Cleveland
Pop 2,683
Places similar to Spencer
Head to head

Compare Spencer to nearby cities

SPENCER VS
Bloomington
Income$50,465+4%
Home value$321,400+97%
Population83,307+3261%
SEE FULL COMPARISON →
SPENCER VS
Martinsville
Income$60,177+24%
Home value$163,400same
Population12,141+390%
SEE FULL COMPARISON →
SPENCER VS
Greencastle
Income$55,565+15%
Home value$169,200+4%
Population9,924+300%
SEE FULL COMPARISON →
SPENCER VS
Brazil
Income$52,055+8%
Home value$113,900−30%
Population8,343+237%
SEE FULL COMPARISON →
Frequently asked

How many people live in Spencer, Indiana?

Spencer, Indiana has about 2,481 residents according to the 2024 American Community Survey.

What is the median household income in Spencer, Indiana?

The typical household in Spencer, Indiana earns about $48,378 a year. Half of households make more than that, and half make less.

Is Spencer, Indiana expensive?

In Spencer, Indiana, the median home is worth about $162,900, and the typical rent is about $798 a month.

How educated are people in Spencer, Indiana?

About 21.0% of adults age 25 and over in Spencer, Indiana hold a bachelor's degree or higher.

What is the poverty rate in Spencer, Indiana?

About 14.1% of people in Spencer, Indiana live below the federal poverty line.

Has Spencer, Indiana grown since 1990?

Yes, Spencer, Indiana has shrunk since 1990. The population has lost about 55 residents, a change of about -2 percent over that period.

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DATA: US CENSUS BUREAU ACS 5-YEAR + DECENNIAL CENSUS · UPDATED 2024

How we source and harmonize this data →