Spencer, IA Real Estate

According to census data in the year 2000 there were 5,177 housing units in Spencer. This represents a 7.3% growth from 4,824 in 1990.

Of those housing units, 4,977 were located in either urbanized areas or urban clusters, and 200 were located in what is classified as a rural area.

Homeownership rate in Spencer is about 65%. Spencer's vacancy rate, including seasonal lodging, is about 5.9%. Average household size is 2.28 people.

The majority of houses, apartments or condos in Spencer were built after 1959.


Housing Size

Housing Units by Size
Studio Type1.50%
One Bedroom14.60%
Two Bedrooms28.80%
Three Bedrooms38%
Four Bedrooms14.80%
Five Bedrooms or more2.20%
As % of Housing Units

Owned Homes, Apartments and Condos

Average Household Size2.47
Median year structure was built1958
Median Value of occupied units$80,900
Median Price asked for vacant units$61,400

Rented Homes, Apartments and Condos

Average Household Size1.94
Median year structure was built1961
Median Monthly Rent asked for vacant units$222

Owners Finance Status

Housing Finance
Second Mortgage & Equity Loan0%
Second Mortgage4.80%
Home Equity Loan8.20%
Simple Mortgage46.60%
Debt Free40.30%
As % of Housing Units
Median part of Monthly Household Income dedicated to covering home ownership costs15.1%