Spencer is located in Indiana and has an overall cost of living that is -15% compared to the national average. Understanding the full picture of living expenses — from housing and rent to grocery bills and healthcare — is essential when considering a move to Spencer.

Housing: Median rent in Spencer is $766.23 / month, and the median home price is $255,313. Housing costs are -52% compared to the national average, which significantly impacts monthly budgets.

Groceries: Daily essentials like bread ($4.16), milk ($4.82), and eggs ($4.76) reflect the local grocery landscape. Overall grocery costs are +2% vs the national average.

Healthcare: Medical costs include doctor visits ($170.91), dentist visits ($137.29), and prescription drugs ($24.74). These costs should be factored into your monthly budget when planning a move.

Indiana has a state income tax rate of 3.05%, which affects take-home pay for Spencer residents.

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Spencer, Indiana Cost of Living FAQ

Common questions about living costs in Spencer.

Spencer, Indiana has an overall cost of living that is -15% the national average. Housing costs are -52% vs the national average. Grocery prices are +2% vs average. Utilities are -7% vs average. This makes Spencer a very affordable place to live.

The median rent in Spencer, Indiana is $766.23 / month. Average energy bills run $204.06 / month. Phone bills average $182.04 / month. Housing is typically the largest expense for residents.

Healthcare costs in Spencer: doctor's visit averages $170.91, dentist visit averages $137.29, prescription drugs average $24.74. Overall healthcare expenses in the area are influenced by the +2% grocery cost difference.

Spencer is one of 123 cities tracked in Indiana. With an overall cost -15% vs the national average, it is more affordable than many other cities in the state. Visit our Indiana state page to compare all cities side-by-side and find the best fit for your budget.

Spencer offers cost of living -15% compared to the national average. Key factors to consider: median home price of $255,313, rent of $766.23 / month, and a state income tax of 3.05% in Indiana. Explore our detailed cost breakdown above to see if Spencer fits your budget.