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CITY · 2020 ACS

Spencer

Indiana · 2,454 residents · 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 $34,306. Population has held roughly steady since 2000. 14% of adults hold a bachelor's degree or higher, below the national rate of 33%. Median home value is $98,400. With a median age of 43.9, the population is older than the US median of 38.8. Households here earn about 41% less than the Indiana median.

At a glance
Lower income
below the US median
US median: $66,278
Older
median age 43.9
US median: 38.8
Less educated
14% hold a bachelor's degree
US average: 33%
More affordable
home values down 13%, inflation adjusted
US median home: $265,253
Section 01

Population & growth

Total population
2,454
−2%since 2000
from 2,508 in 2000
1990 – 2025
Population density
1,540 / sq mi
−2%since 2000
from 1,573 / sq mi in 2000
US average: 280
Median age
43.9
+13%since 2000
from 38.7 in 2000
US average: 38.8
Population, 1990 – 2024
2K2K2K3K3K1990201020202024Spencer
20242K
1990201020202024
Section 02

Income & economy

Median household income
$34,306
−20%inflation adjusted, since 2000
from $28,664 in 2000
US average: $66,278
1990 – 2024
Per capita income
$24,517
+55%since 2000
from $15,843 in 2000
US average: $35,364
Households earning $100K+
19.1%
+5.8 ptssince 2009
from 13.2% in 2009
US average: 43.9%
Poverty rate
16.6%
+7.1 ptssince 2000
from 9.5% in 2000
US average: 12.8%
Workforce by industry, 2020
Retail trade21.4%
US avg: 10%
Information8.7%
US avg: 11.1%
Wholesale trade8.2%
US avg: 6.7%
Other services4.2%
US avg: 6.6%
Arts, entertainment, food3.4%
US avg: 2%
Public administration2.6%
US avg: 4.7%
Agriculture, forestry, fishing2.3%
US avg: 1.7%
Finance & insurance2.3%
US avg: 5.5%
Manufacturing1.8%
US avg: 0.5%
Professional, scientific, technical1.3%
US avg: 4.7%
Education & health services1%
US avg: 0.8%
Construction0.5%
US avg: 1.2%
Transportation & warehousing0%
US avg: 2.5%
BARS: THIS PLACE · TICKS: US AVERAGE
Section 03

Housing

Median home value
$98,400
−13%inflation adjusted, since 2000
from $75,200 in 2000
US average: $265,253
1990 – 2024
Median gross rent
$671
−7%inflation adjusted, since 2000
from $481 in 2000
US average: $1,124
Owner-occupied
57.5%
−4.2 ptssince 2000
from 61.7% in 2000
42.5% rent
Afford Score
2.9
+9%since 2000
from 2.6 in 2000
1990 – 2024
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)
2020
White, non-Hispanic91.7%(2,251)
Black0.3%(8)
Hispanic / Latino2.2%(53)
Asian0.7%(16)
Other4.2%(104)
Diversity Score17.6%(432)
Diversity Score
18
+489%since 2000
from 3 in 2000
1990 – 2024
Section 05

Education

Bachelor's degree or higher
14.4%
+5.5 ptssince 2000
from 9.0% in 2000
US average: 32.9%
High school or higher
83.0%
+11.0 ptssince 2000
from 72.0% in 2000
US average: 88.5%
Graduate degree
4.1%
+0.1 ptssince 2000
from 4.1% in 2000
US average: 12.7%
Section 06

Commute & transportation

Average commute
21.2 min
−10%since 2000
from 23.5 min in 2000
US average: 26.9
Drive alone to work
77.6%
−3.5 ptssince 2009
from 81.1% in 2009
US average: 75.1%
No vehicle available
11.6%
+3.5 ptssince 2009
from 8.1% in 2009
US average: 8.4%
Section 07

Work & employment

Unemployment rate
3.7%
−4.8 ptssince 2011
from 8.5% in 2011
US average: 5.4%
Labor force participation
56.9%
+0.8 ptssince 2011
from 56.1% in 2011
US average: 63.4%
Management & professional
23.0%
−34.8 ptssince 2009
from 57.8% in 2009
US average: 39.3%
Section 08

People & community

Male
41.9%
−8.3 ptssince 2009
from 50.2% in 2009
Female
58.1%
+8.3 ptssince 2009
from 49.8% in 2009
Foreign born
1.8%
−2.8 ptssince 2009
from 4.6% in 2009
US average: 13.5%
Uninsured
12.1%
−69.4 ptssince 2013
from 81.5% in 2013
US average: 8.8%
Drill deeper

Places similar to Spencer

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Pop 2,572
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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+47%
Home value$321,400+227%
Population83,307+3261%
SEE FULL COMPARISON →
SPENCER VS
Martinsville
Income$60,177+75%
Home value$163,400+66%
Population12,141+390%
SEE FULL COMPARISON →
SPENCER VS
Greencastle
Income$55,565+62%
Home value$169,200+72%
Population9,924+300%
SEE FULL COMPARISON →
SPENCER VS
Brazil
Income$52,055+52%
Home value$113,900+16%
Population8,343+237%
SEE FULL COMPARISON →
Frequently asked

How many people live in Spencer, Indiana?

Spencer, Indiana has about 2,454 residents according to the 2020 American Community Survey.

What is the median household income in Spencer, Indiana?

The typical household in Spencer, Indiana earns about $34,306 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 $98,400, and the typical rent is about $671 a month.

How educated are people in Spencer, Indiana?

About 14.4% 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 16.6% 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 82 residents, a change of about -3 percent over that period.

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

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