Spencer, IN housing market
The typical Spencer home is worth about $252,000, up 3.2% in a year, close to the Indiana typical home.
Home values, sales, trends and how Spencer compares with the towns next door — updated as new data is published.
Spencer at a glance
Only 1 sale in May 2026: in a market this size, monthly medians swing a lot, so the typical value above is the steadier guide.
Typical home value, 2016–2026
Show as a table
| January | Spencer | Indiana |
|---|---|---|
| 2017 | $124,000 | $135,000 |
| 2018 | $136,000 | $144,000 |
| 2019 | $144,000 | $154,000 |
| 2020 | $157,000 | $164,000 |
| 2021 | $180,000 | $183,000 |
| 2022 | $200,000 | $209,000 |
| 2023 | $215,000 | $227,000 |
| 2024 | $231,000 | $237,000 |
| 2025 | $246,000 | $249,000 |
| 2026 | $250,000 | $256,000 |
| August 2026 | $252,000 | $260,000 |
12 new homes permitted in 2025
Builders were permitted 12 new homes in Spencer in 2025, all single-family houses, worth about $2.5 million to build. That's 4.8 per 1,000 residents, about the pace of Indiana as a whole.
Show as a table
| Year | New homes | Single-family | 2+ per building | Value |
|---|---|---|---|---|
| 2026 (Jan–Aug) | 8 | 8 | 0 | $1.7 million |
| 2025 | 12 | 12 | 0 | $2.5 million |
| 2024 | 6 | 6 | 0 | $1.4 million |
| 2023 | 13 | 13 | 0 | $2.7 million |
| 2022 | 9 | 4 | 5 | $2.6 million |
| 2021 | 10 | 6 | 4 | $1.6 million |
| 2020 | 2 | 2 | 0 | $300,000 |
| 2013 | 0 | 0 | 0 | — |
| 2012 | 0 | 0 | 0 | — |
| 2011 | 0 | 0 | 0 | — |
| 2010 | 2 | 2 | 0 | $293,000 |
| 2009 | 0 | 0 | 0 | — |
| 2008 | 0 | 0 | 0 | — |
| 2007 | 2 | 2 | 0 | $247,000 |
| 2006 | 3 | 3 | 0 | $370,000 |
| 2005 | 3 | 3 | 0 | $220,000 |
| 2004 | 3 | 3 | 0 | $220,000 |
| 2003 | 3 | 3 | 0 | $220,000 |
| 2002 | 1 | 1 | 0 | $114,000 |
| 2001 | 2 | 2 | 0 | $90,000 |
| 2000 | 5 | 1 | 4 | $397,000 |
Homes authorized by building permits, counted in the year the permit was issued. U.S. Census Bureau, Building Permits Survey, through August 2026.
5.2 years of income
The typical Spencer home costs about 5.2 years of the town's median household income, more than across Indiana (3.6 years).
How Spencer ranks on affordability →
Home value ÷ ACS median household income.
Owners, rent & taxes
U.S. Census Bureau, ACS 2020-2024.
A two-bedroom rents for about $1,110
HUD's Fair Market Rent for a two-bedroom in Spencer is $1,110 a month, utilities included: roughly what a modest, recently rented unit costs. Renters already in Spencer pay a median of $798, so moving in tends to cost more than staying put. A two-bedroom takes about 28% of the town's median household income.
Studio $870 · 4 bedrooms $1,740
U.S. Department of Housing and Urban Development, FY2026 Fair Market Rents by ZIP code (47460; Bloomington, IN HUD Metro FMR Area), weighted by land area. A Fair Market Rent is the 40th-percentile rent plus utilities for a standard unit. Median rent: U.S. Census Bureau, American Community Survey.
Home values: Zillow Home Value Index (ZHVI), Zillow Research, August 2026. Sales, days on market and supply: Redfin Data Center, May 2026. Income, ownership, taxes and rent: U.S. Census Bureau, American Community Survey. New homes: U.S. Census Bureau, Building Permits Survey. Fair Market Rents: U.S. Department of Housing and Urban Development. Listings link to their publishers.