Data through September 2026 · updated 2026-11-07 · free, from Zillow, Realtor.com, the Census Bureau and other public sources
Typical home value$232,771+3.9% YoY · prices are rising fast
Market right nowBalanced marketMore homes for sale than last year, 17% have cut their price
Income needed to buy, per year$50,460About 0.7× the local median income ($76,789): affordable for a typical household
Days on market57 daysSlower than a year ago: buyers have time to negotiate
The typical home in Spencer County, IN is worth $232,771, up 3.9% from a year ago. That is well above what local incomes have historically supported: fair value is about $200,008, so the area is 16.4% overvalued. It is a balanced market: homes take about 57 days to sell, listings are up 20% from a year ago, 17% of listings have had a price cut. A household needs about $50,460 a year to afford the typical home here at today's 7.18% mortgage rate (20% down, payment at 30% of income); the median household earns $76,789. In the latest IRS figures, 53 more people moved in than out.
Home value over time
Solid: typical home value · dashed: fair value (household income × the 20-year average price-to-income ratio). Sources: FHFA, Zillow, U.S. Census Bureau.
Prices and affordability
Typical home value
$232,771
Change in 1 year
+3.9%
Overvalued %
+16.4%
Show 6 more
Fair home value
$200,008
Change in 5 years
+28.6%
Home value to income
3.0×
Monthly mortgage payment (20% down)
$1,261
Income needed to afford it
$50,460
Property tax rate
0.62%
Rent and investing
HUD Fair Market Rent, 2 bedrooms
$1,014
Market activity
Listings vs a year ago
+20.5%
Days on market
57
Listings with a price cut
16.7%
Show 3 more
Homes for sale
53
Pending sales per 100 listings
64
Asking price per sq ft
$144
People and jobs
Median household income
$76,789
Population change (1 year)
−0.5%
Unemployment rate
3.3%
Show 4 more
Population
20,061
Income adjusted for cost of living
$86,572
Net moves in (IRS)
+53
Cost of living (US = 100)
88.7
Schools, risk and environment
School rating (1 to 10)
8.2
FEMA hazard risk score (0 to 100)
39.4
Unhealthy air days a year
0
Show 4 more
Flood risk score
45.5
Wildfire risk score
29.4
Walkability (1 to 20)
5.9
Road, rail and air noise
54 dB
Questions people ask
Is Spencer County, IN overvalued?
Home prices in Spencer County, IN are well above what local incomes have historically supported: fair value is about $200,008, so the area is 16.4% overvalued.
Is Spencer County, IN a buyer's or seller's market?
Spencer County, IN is a balanced market: homes take about 57 days to sell, listings are up 20% from a year ago, 17% of listings have had a price cut.
Are home prices going down in Spencer County, IN?
Home values in Spencer County, IN are up 3.9% over the last year.
How much do you need to earn to buy a home in Spencer County, IN?
A household needs about $50,460 a year to afford the typical home in Spencer County, IN at today's 7.18% mortgage rate (20% down, payment at 30% of income); the median household earns $76,789.