Cost of Living in Spencer, IN

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14%
Overall NAT. AVG.
4%
Groceries NAT. AVG.
41%
Housing NAT. AVG.
Date & Last Updated: These cost of living estimates reflect 2026 modeled data using U.S. Census housing inputs and AI-assisted city-level pricing models.
The cost of living index is based on a national average of 100. For example, if the cost of living score is 90, then the estimated cost of living is 10% lower than the national average. If the score is 110, then the estimated cost of living is 10% higher than average. The overall index is calculated using weighted estimates across major everyday expense categories, including housing (30%), groceries (16%), transportation (12%), healthcare (10%), utilities (8%), lifestyle and entertainment (8%), household expenses (8%), and education and childcare (8%). All values are AI-assisted city-level estimates designed for directional comparisons.
Index Spencer Indiana National
Cost of living8689100
Groceries9697100
Health care9897100
Housing5972100
Transportation9596100
Utilities9796100
Lifestyle & Entertainment9695100
Household Items9998100
Education & Childcare10394100
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Homes For Sale In Spencer, IN

property for sale

3449 Hillside Ct

Spencer, IN
property for sale

2603 S Cataract Rd

Spencer, IN
property for sale

4304 Newport Dr

Spencer, IN
property for sale

982 E Coonpath Rd

Spencer, IN

Cost Of Living Quick Facts

  • The cost of living in Spencer is 4% lower than the Indiana average
  • The cost of living in Spencer is 14% lower than the national average
  • Spencer housing is 41% lower than the national average
  • Indiana general sales tax is 37% higher than the national average
  • Indiana state income tax is 21% higher than the national average

Most Affordable Places to Live in and Around Spencer

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Compare Spencer, IN Cost of Living

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      Median Income & Debt-To-Income Ratio

      Median Income Per Year Per Month Max Budget (28% DTI) Max Budget (36% DTI)
      Owners$70,263$5,855$1,639$2,108
      Renters$32,043$2,670$748$961

      Indiana Sales Tax

      State General Sales Tax With Max Surtax
      Indiana 7% 7%

      Indiana Income Tax

      State Income Tax (Low) Income Tax (High)
      Indiana 3.15% 3.15%

      Nearby cities with low cost of living

      City Population Cost of Living Index National Avg.
      Stinesville, IN3348118.6%
      Worthington, IN1,5828218.2%
      Paragon, IN4788416.4%
      Gosport, IN1,0928415.8%
      Ellettsville, IN6,865928.2%
      Spencer, IN2,2898614.2%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Jackson, KY2,2898119.4%
      Lexington, OK2,2898218.1%
      St. George, SC2,289928.3%
      Logy Bay-Middle Cove-Outer Cove, NL2,289n/a 
      Fowler, IN2,2888316.6%
      Spencer, IN2,2898614.2%
      Date & Last Updated: These cost of living estimates reflect 2026 modeled data using U.S. Census housing inputs and AI-assisted city-level pricing models.
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