Cost of Living in Spencer
Spencer's cost of living combines a genuinely fast-moving housing market against a moderate property tax position.
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Learn moreA genuinely fast-moving housing market
Spencer's median home sale price ran approximately $181,000 as of November 2025, up a real, disclosed 25.3% year-over-year (base record).
A below-statewide median household income
Spencer's median household income ran approximately $60,018, below Iowa's own statewide median (base record).
A moderate property tax position
Spencer's effective property tax rate ran approximately 1.43% -- above the national median of 1.02% but below Iowa's own statewide median of 1.54% (base record).
Key takeaways
- Spencer's median home price ($181,000) rose a real 25.3% year-over-year.
- Median household income (~$60,018) runs below Iowa's statewide median.
- A 1.43% effective property tax rate sits between national and Iowa statewide medians.
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