Spencer, TN
Population 1,494 · Tennessee
About Spencer, TN
Spencer is a small community in Tennessee with a population of 1,494 residents. The median household income is $46,563 per year, which is below the national average. The median age in Spencer is 48.8 years.
Housing in Spencer has a median home value of $135,000 and median monthly rent of $643. Of the 759 total housing units, the majority are owner-occupied, with 454 owner-occupied and 181 renter-occupied units.
The unemployment rate in Spencer is 0.5% and the poverty rate is 9.8%. 8.9% of residents hold a bachelor's degree or higher. The average commute time is 29.4 minutes.
How Spencer Ranks in Tennessee
Cost of Living in Spencer, TN
Compared to national averages, Spencer has a median household income of $46,563 (38% below the national median of $75,149). Home values average $135,000, which is 45% below the national median. Monthly rent at $643 is 45% below the US average of $1,163. Within Tennessee, Spencer's income is 26% below the state average of $62,849, and home values are 37% below the state median of $214,371.
Why Live in Spencer, TN?
Spencer offers affordable housing with a median home value of $135,000, below the US average of $244,900, and rent that’s lower than the national average at $643/month, and a strong job market with an unemployment rate of just 0.5%. Additionally, the city features a low poverty rate of 9.8%, better than the national average.
Potential considerations include median household income ($46,563) 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 1,494 with a median age of 48.8 years. Compare Spencer with other cities to see how it stacks up, or explore all cities in Tennessee.
Similar Cities Near Spencer
Cities in Tennessee with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Kenton | 1,487 | $40,993 | $96,400 | Compare |
| Watertown | 1,511 | $62,991 | $228,400 | Compare |
| Norris | 1,472 | $73,448 | $306,300 | Compare |
| Banner Hill | 1,519 | $66,270 | $120,700 | Compare |
| Rutledge | 1,521 | $41,000 | $152,300 | Compare |
| Lone Oak | 1,463 | $53,214 | $241,100 | Compare |
| Chapel Hill | 1,531 | $77,826 | $276,700 | Compare |
| Powells Crossroads | 1,454 | $65,804 | $173,000 | Compare |
Demographics
Racial & Ethnic Composition
Economy & Education
Housing
Other Cities in Tennessee
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, TN?
The population of Spencer, TN is 1,494 according to the latest Census data.
What is the median household income in Spencer?
The median household income in Spencer, TN is $46,563 per year.
What is the median home value in Spencer?
The median home value in Spencer, TN is $135,000.
What is the average rent in Spencer?
The median monthly rent in Spencer, TN is $643.
What is the unemployment rate in Spencer?
The unemployment rate in Spencer, TN is 0.5%.