A typical Spencer home is worth about $267,000
Up 10.7% in a year, 17% below the South Dakota typical home.
Only 2 sales in March 2026: in a market this size, monthly medians swing a lot, so the typical value is the steadier guide.
What kind of housing town is Spencer?
Read from the numbers below. The page puts what stands out first.
Up 28.7% in five years
Faster than South Dakota (24.2%).
Show as a table
| January | Spencer | South Dakota |
|---|---|---|
| 2017 | $138,000 | $186,000 |
| 2018 | $157,000 | $195,000 |
| 2019 | $160,000 | $203,000 |
| 2020 | $162,000 | $215,000 |
| 2021 | $192,000 | $235,000 |
| 2022 | $214,000 | $272,000 |
| 2023 | $226,000 | $297,000 |
| 2024 | $223,000 | $301,000 |
| 2025 | $233,000 | $312,000 |
| 2026 | $252,000 | $319,000 |
| August 2026 | $267,000 | $322,000 |
A typical Spencer home worth $133K in September 2016 is worth about $267K today.
Zillow Home Value Index: the typical value of all homes (middle third), smoothed and seasonally adjusted, through August 2026.
What it takes to buy in Spencer
Try your own numbers below.
That covers a typical Spencer home, with $19K to spare.
A two-bedroom rents for about $1,010 a month here, $620 less than owning.
An estimate, not a loan offer: payments of up to 28% of income, a 30-year fixed loan, the South Dakota typical property tax (1.06% of value a year, from the Census) and insurance of about 0.35%. Mortgage insurance, HOA fees and other debts aren’t included.
A two-bedroom rents for about $1,010
Fair Market Rent a month, utilities included
U.S. Department of Housing and Urban Development, Fair Market Rents by ZIP code (Sioux Falls, SD HUD Metro FMR Area): the 40th-percentile rent plus utilities for a standard unit. Median rent and renters: U.S. Census Bureau, American Community Survey.
1 new home permitted in 2025
Builders were permitted 1 new home in Spencer in 2025. Over the past 10 years, Spencer has permitted 4 homes in all.
Every year as a table
| Year | New homes | Single-family | 2+ per building | Value |
|---|---|---|---|---|
| 2026 (Jan–Aug) | 0 | 0 | 0 | — |
| 2025 | 1 | 1 | 0 | $233,000 |
| 2024 | 0 | 0 | 0 | — |
| 2023 | 1 | 1 | 0 | $56,000 |
| 2022 | 0 | 0 | 0 | — |
| 2021 | 0 | 0 | 0 | — |
| 2020 | 0 | 0 | 0 | — |
| 2019 | 0 | 0 | 0 | — |
| 2018 | 1 | 1 | 0 | $10,000 |
| 2017 | 0 | 0 | 0 | — |
| 2016 | 1 | 1 | 0 | $85,000 |
| 2015 | 0 | 0 | 0 | — |
| 2014 | 0 | 0 | 0 | — |
| 2013 | 0 | 0 | 0 | — |
| 2012 | 0 | 0 | 0 | — |
| 2011 | 0 | 0 | 0 | — |
| 2010 | 0 | 0 | 0 | — |
| 2009 | 0 | 0 | 0 | — |
| 2008 | 0 | 0 | 0 | — |
| 2007 | 0 | 0 | 0 | — |
| 2006 | 2 | 2 | 0 | $228,000 |
| 2005 | 1 | 1 | 0 | $80,000 |
| 2004 | 1 | 1 | 0 | $81,000 |
| 2003 | 0 | 0 | 0 | — |
| 2002 | 2 | 2 | 0 | $120,000 |
| 2001 | 0 | 0 | 0 | — |
Homes authorized by building permits, counted in the year the permit was issued. U.S. Census Bureau, Building Permits Survey.
Neighbors talk housing
What Spencer buyers, sellers and renters are saying.
Your answer becomes a post in Town Square.
Home values: Zillow Home Value Index (ZHVI), Zillow Research, August 2026. Sales, days on market and supply: Redfin Data Center, March 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. The calculator is an estimate, not a loan offer.