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185 Apartments for rent in Spencer, IN

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September 2024
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  1. Home
  2. Indiana
  3. Spencer

Spencer Local Guide

See what Spencer, IN has to offer.

All About

Living in Spencer, IN

Spencer, Indiana is a small town with a population of just over 2,000. Families with young children can expect to feel welcome, as kids under 5 account for an above-average 9% of the community, though retirees outpace national averages as well. The majority of Spencer residents own their homes, and 37% of residents rent. Renting remains an affordable option, though, as the town boasts a relatively low average rent of $672/month. Over the course of a year, renters in Spencer will save around $1,900 compared to the state average.

With an average commute time of about 21 minutes, outperforming most cities in Indiana, Spencer residents are well aware that it isn't overly time-consuming to get to work. Driving a car or truck is the most common means of commuting to work, opted for by 41% of residents, while public transportation isn't used. Walking (5%) isn't a common way to get to work, though the number is much greater than the national average.

Many Spencer residents work in one of two industries: manufacturing and healthcare. Together, these industries account for 18% of the town's labor force. Meanwhile, in terms of job function, many residents work in transportation, making it the top career path in the town. With an average annual income of around $50,000, Spencer workers take home less than their peers elsewhere in the state. The town's average income also falls below the national average of $73,345. Spencer has a large number of residents over the age of 25 who have a high school degree or GED (27%) compared to the national average. Furthermore, 6% possess a Bachelor's degree and 2% have earned a Master's or Doctoral degree.