Spencer, NC
Population 3,305 · North Carolina
About Spencer, NC
Spencer is a small town located in North Carolina with a population of 3,305 residents according to the latest US Census Bureau American Community Survey data. The median household income is $64,031 per year, which is 15% below the national median of $75,149. The median age of 45.7 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 Spencer features a median home value of $149,800, which is 39% below the national median of $244,900. This positions Spencer in a moderately priced market relative to the rest of the country. Median monthly rent is $1,042, 10% below the national average of $1,163/month. Of the 1,541 total housing units, 64% are owner-occupied (869 units) and 36% are renter-occupied (482 units). The balanced mix of owners and renters indicates a diverse housing market.
Economy & Employment
The local economy in Spencer shows an unemployment rate of 4.9%, which is near the national rate of 3.7%. The poverty rate stands at 13.1%, above the national average of 12.4%. Workers in Spencer have an average one-way commute time of 30.3 minutes.
Education & Demographics
21.4% of Spencer 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 3.1% White, 0.7% Hispanic or Latino, 0.0% Black or African American, and 1.3% Asian residents, with 1.5% of the population being foreign-born.
Cost of Living in Spencer, NC
Compared to national averages, Spencer has a median household income of $64,031 (15% below the national median of $75,149). Home values average $149,800, which is 39% below the national median. Monthly rent at $1,042 is 10% below the US average of $1,163. Within North Carolina, Spencer's income is 1% below the state average of $64,468, and home values are 35% below the state median of $228,922.
Why Live in Spencer, NC?
Spencer offers affordable housing with a median home value of $149,800, below the US average of $244,900, and rent that’s lower than the national average at $1,042/month.
Potential considerations include median household income ($64,031) 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 3,305 with a median age of 45.7 years. Compare Spencer with other cities to see how it stacks up, or explore all cities in North Carolina.
Similar Cities Near Spencer
Cities in North Carolina with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Elizabethtown | 3,294 | $32,577 | $153,400 | Compare |
| Plymouth | 3,264 | $30,462 | $83,900 | Compare |
| Burgaw | 3,249 | $65,514 | $207,400 | Compare |
| Lake Park | 3,365 | $76,366 | $296,400 | Compare |
| Mineral Springs | 3,244 | $88,203 | $353,500 | Compare |
| Red Oak | 3,372 | $81,464 | $236,200 | Compare |
| Enochville | 3,392 | $65,328 | $225,200 | Compare |
| Windsor | 3,417 | $38,631 | $111,400 | Compare |
Demographics
Racial & Ethnic Composition
Economy & Education
Housing
Other Cities in North Carolina
Data source: US Census Bureau ACS 5-Year Estimates. Last updated: 2026-04-05.
Compare Spencer With Other Cities
Frequently Asked Questions about Spencer
What is the population of Spencer, NC?
The population of Spencer, NC is 3,305 according to the latest US Census Bureau American Community Survey estimates. This makes it a small town in North Carolina.
What is the median household income in Spencer?
The median household income in Spencer, NC is $64,031 per year, which is 15% below the national median of $75,149.
What is the median home value in Spencer?
The median home value in Spencer, NC is $149,800, which is 39% below the national median of $244,900. The majority of housing units are owner-occupied.
What is the average rent in Spencer?
The median monthly rent in Spencer, NC is $1,042, which is 10% below the national average of $1,163/month.
What is the unemployment rate in Spencer?
The unemployment rate in Spencer, NC is 4.9%, compared to the national average of 3.7%. Job seekers may want to research the dominant industries in the area.
Is Spencer, NC a good place to live?
Spencer offers a moderate cost of living, affordable housing, and growing employment opportunities. With a population of 3,305 and a median age of 45.7, the city appeals to established professionals and retirees.
How educated is Spencer, NC?
21.4% of residents in Spencer 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 Spencer?
Key cost-of-living indicators for Spencer, NC: median home value is $149,800 (39% below national), median rent is $1,042/month, and median household income is $64,031. The home-value-to-income ratio is 2.3x, indicating relatively affordable housing relative to local incomes.
What is the poverty rate in Spencer?
The poverty rate in Spencer, NC is 13.1%, compared to the national average of 12.4%. Residents and prospective movers should be aware of the economic challenges facing parts of this community.
How diverse is Spencer, NC?
Spencer's population is 3.1% White, 0.7% Hispanic or Latino, 0.0% Black or African American, 1.3% Asian, and 33.5% two or more races. 1.5% of residents are foreign-born.