Spencer, OK
Population 3,942 · Oklahoma
About Spencer, OK
Spencer is a small community in Oklahoma with a population of 3,942 residents. The median household income is $57,550 per year, which is near the national average. The median age in Spencer is 40.5 years.
Housing in Spencer has a median home value of $119,000 and median monthly rent of $940. Of the 1,853 total housing units, the majority are owner-occupied, with 1,132 owner-occupied and 567 renter-occupied units.
The unemployment rate in Spencer is 9.8% and the poverty rate is 16.2%. 22.4% of residents hold a bachelor's degree or higher. The average commute time is 25.9 minutes.
Cost of Living in Spencer, OK
Compared to national averages, Spencer has a median household income of $57,550 (23% below the national median of $75,149). Home values average $119,000, which is 51% below the national median. Monthly rent at $940 is 19% below the US average of $1,163. Within Oklahoma, Spencer's income is 2% above the state average of $56,382, and home values are 1% below the state median of $119,992.
Why Live in Spencer, OK?
Spencer offers affordable housing with a median home value of $119,000, below the US average of $244,900, and rent that’s lower than the national average at $940/month.
Potential considerations include median household income ($57,550) 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 3,942 with a median age of 40.5 years. Compare Spencer with other cities to see how it stacks up, or explore all cities in Oklahoma.
Similar Cities Near Spencer
Cities in Oklahoma with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Madill | 3,966 | $47,022 | $101,400 | Compare |
| Nichols Hills | 3,838 | $203,750 | $855,300 | Compare |
| Fort Gibson | 3,805 | $69,632 | $173,200 | Compare |
| Stilwell | 3,740 | $32,738 | $99,800 | Compare |
| Slaughterville | 4,214 | $76,759 | $200,300 | Compare |
| Broken Bow | 4,215 | $50,744 | $159,000 | Compare |
| Bristow | 4,261 | $40,000 | $110,800 | Compare |
| Elgin | 3,560 | $81,739 | $243,600 | Compare |
Demographics
Racial & Ethnic Composition
Economy & Education
Housing
Other Cities in Oklahoma
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, OK?
The population of Spencer, OK is 3,942 according to the latest Census data.
What is the median household income in Spencer?
The median household income in Spencer, OK is $57,550 per year.
What is the median home value in Spencer?
The median home value in Spencer, OK is $119,000.
What is the average rent in Spencer?
The median monthly rent in Spencer, OK is $940.
What is the unemployment rate in Spencer?
The unemployment rate in Spencer, OK is 9.8%.