Spencerville, IN
Population 322 · Indiana
About Spencerville, IN
Spencerville is a small community located in Indiana with a population of 322 residents according to the latest US Census Bureau American Community Survey data. The median household income is $43,542 per year, which is 42% below the national median of $75,149. The median age of 50.2 years is notably older the US median age of 38.9 years, suggesting a more established community with a higher proportion of long-term residents.
Housing Market Overview
The housing market in Spencerville features a median home value of $141,700, which is 42% below the national median of $244,900. This makes Spencerville one of the more affordable markets in the country, potentially attractive for first-time homebuyers. Median monthly rent is $0, 100% below the national average of $1,163/month. Of the 122 total housing units, 92% are owner-occupied (112 units) and 8% are renter-occupied (10 units). The high homeownership rate suggests a stable, established residential community.
Economy & Employment
The local economy in Spencerville shows an unemployment rate of 15.0%, which is significantly above the national rate of 3.7%, suggesting economic challenges in the area. The poverty rate stands at 0.0%, below the national average of 12.4%, reflecting generally favorable economic conditions. Workers in Spencerville have an average one-way commute time of 19.2 minutes, one of the shorter commutes in the region.
Education & Demographics
23.4% of Spencerville residents aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. The lower educational attainment rate may reflect the area's industry mix, with more employment in trades, manufacturing, or agricultural sectors. The community's demographic composition includes 0.0% White, 0.0% Hispanic or Latino, 0.0% Black or African American, and 17.7% Asian residents, with 0.0% of the population being foreign-born.
Cost of Living in Spencerville, IN
Compared to national averages, Spencerville has a median household income of $43,542 (42% below the national median of $75,149). Home values average $141,700, which is 42% below the national median. Monthly rent at $0 is 100% below the US average of $1,163. Within Indiana, Spencerville's income is 37% below the state average of $69,330, and home values are 13% below the state median of $163,409.
Why Live in Spencerville, IN?
Spencerville offers affordable housing with a median home value of $141,700, below the US average of $244,900, and rent that’s lower than the national average at $0/month, and a low poverty rate of 0.0%, better than the national average. Additionally, the city features short commute times averaging just 19.2 minutes.
Potential considerations include median household income ($43,542) that falls below the national average. However, Spencerville’s smaller community size offers a quieter lifestyle and tight-knit neighborhoods.
Spencerville has a population of 322 with a median age of 50.2 years. Compare Spencerville with other cities to see how it stacks up, or explore all cities in Indiana.
Similar Cities Near Spencerville
Cities in Indiana with a similar population size.
Demographics
Racial & Ethnic Composition
Economy & Education
Housing
Other Cities in Indiana
Data source: US Census Bureau ACS 5-Year Estimates. Last updated: 2026-04-05.
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Frequently Asked Questions about Spencerville
What is the population of Spencerville, IN?
The population of Spencerville, IN is 322 according to the latest US Census Bureau American Community Survey estimates. This makes it a small community in Indiana.
What is the median household income in Spencerville?
The median household income in Spencerville, IN is $43,542 per year, which is 42% below the national median of $75,149.
What is the median home value in Spencerville?
The median home value in Spencerville, IN is $141,700, which is 42% below the national median of $244,900. The majority of housing units are owner-occupied.
What is the average rent in Spencerville?
The median monthly rent in Spencerville, IN is $0, which is 100% below the national average of $1,163/month.
What is the unemployment rate in Spencerville?
The unemployment rate in Spencerville, IN is 15.0%, compared to the national average of 3.7%. Job seekers may want to research the dominant industries in the area.
Is Spencerville, IN a good place to live?
Spencerville offers a moderate cost of living, affordable housing, and growing employment opportunities. With a population of 322 and a median age of 50.2, the city appeals to established professionals and retirees.
How educated is Spencerville, IN?
23.4% of residents in Spencerville aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. The educational profile reflects the area's industry mix and employment landscape.
What is the cost of living in Spencerville?
Key cost-of-living indicators for Spencerville, IN: median home value is $141,700 (42% below national), median rent is $0/month, and median household income is $43,542. The home-value-to-income ratio is 3.3x, indicating relatively affordable housing relative to local incomes.
What is the poverty rate in Spencerville?
The poverty rate in Spencerville, IN is 0.0%, compared to the national average of 12.4%. This below-average poverty rate reflects generally favorable economic conditions in the community.
How diverse is Spencerville, IN?
Spencerville's population is 0.0% White, 0.0% Hispanic or Latino, 0.0% Black or African American, 17.7% Asian, and 0.0% two or more races. 0.0% of residents are foreign-born.