Spencer, IA
Population 11,393 · Iowa
About Spencer, IA
Spencer is a mid-sized city in Iowa with a population of 11,393 residents. The median household income is $57,068 per year, which is near the national average. The median age in Spencer is 41.3 years.
Housing in Spencer has a median home value of $178,300 and median monthly rent of $795. Of the 5,640 total housing units, the majority are owner-occupied, with 3,481 owner-occupied and 1,664 renter-occupied units.
The unemployment rate in Spencer is 5.1% and the poverty rate is 14.1%. 28.2% of residents hold a bachelor's degree or higher. The average commute time is 17.4 minutes.
How Spencer Ranks in Iowa
Cost of Living in Spencer, IA
Compared to national averages, Spencer has a median household income of $57,068 (24% below the national median of $75,149). Home values average $178,300, which is 27% below the national median. Monthly rent at $795 is 32% below the US average of $1,163. Within Iowa, Spencer's income is 16% below the state average of $67,947, and home values are 35% above the state median of $132,237.
Why Live in Spencer, IA?
Spencer offers affordable housing with a median home value of $178,300, below the US average of $244,900, and rent that’s lower than the national average at $795/month, and short commute times averaging just 17.4 minutes.
Potential considerations include median household income ($57,068) that falls below the national average. However, Spencer’s smaller community size offers a quieter lifestyle and tight-knit neighborhoods.
Spencer has a population of 11,393 with a median age of 41.3 years. Compare Spencer with other cities to see how it stacks up, or explore all cities in Iowa.
Similar Cities Near Spencer
Cities in Iowa with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Oskaloosa | 11,492 | $62,172 | $128,900 | Compare |
| Storm Lake | 11,275 | $58,341 | $163,600 | Compare |
| Pleasant Hill | 10,796 | $86,890 | $284,100 | Compare |
| Pella | 10,624 | $81,201 | $259,600 | Compare |
| Le Mars | 10,597 | $72,381 | $202,200 | Compare |
| Waverly | 10,446 | $78,429 | $215,200 | Compare |
| Boone | 12,445 | $67,269 | $156,400 | Compare |
| Carroll | 10,261 | $59,323 | $184,100 | Compare |
Demographics
Racial & Ethnic Composition
Economy & Education
Housing
Other Cities in Iowa
Data source: US Census Bureau ACS 5-Year Estimates. Last updated: 2026-04-05.
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Frequently Asked Questions about Spencer
What is the population of Spencer, IA?
The population of Spencer, IA is 11,393 according to the latest Census data.
What is the median household income in Spencer?
The median household income in Spencer, IA is $57,068 per year.
What is the median home value in Spencer?
The median home value in Spencer, IA is $178,300.
What is the average rent in Spencer?
The median monthly rent in Spencer, IA is $795.
What is the unemployment rate in Spencer?
The unemployment rate in Spencer, IA is 5.1%.