Spencer, VA—24165
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Spencer, VA
As of Oct '25, the median home price in Spencer, VA is $150,000, with a year-over-year change of -8.8%. This indicates that home prices in Spencer, VA are decreasing. According to Zillow, the 1-year price projection is 2.1%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $150,000 | -8.8% |
| Single Family | $150,000 | -9.6% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | N/A | N/A |
3 Bed | N/A | N/A |
4 Bed | N/A | N/A |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Spencer, VA
Spencer, VA lacks sufficient rental market data for analysis.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | N/A | N/A |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | N/A | N/A |
| 2 Bed Rent | N/A | N/A |
| 3 Bed Rent | N/A | N/A |
| 4 Bed Rent | N/A | N/A |
% of Rental Stock
Property Listings — Spencer, VA
As of Oct '25, Realtor.com reports that the median days on market for a home in Spencer, VA is 92. This is a decrease of -28.0% from last year, suggesting that homes are sitting on the market shorter than last year. The percentage of listed homes with a reduced price is 0.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $231,000 | -7.0% |
Listing Count | 4 | -17.0% |
| Listings as % of Homes | N/A | -17.0% |
Days on Market | 92 | -28.0% |
Demographics — Spencer, VA
As of the latest ACS Survey released in 2023, Spencer, VA has a population of 1,630, which has increased by 21.0% over the past 5 years. Spencer, VA is a moderately popular place for families, as children make up 21.7% of the population. The area has a poorly educated workforce, with 7.7% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 16.5% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 1,630 | 21.0% |
% Under 18 | 21.7% | -1.8% |
% Seniors | 18.2% | -27.2% |
% WFH | 16.5% | 469.0% |
% w/ College Degree | 7.7% | -38.9% |
As of the latest ACS Survey released in 2023, Spencer, VA is a predominantly white area, with 82.6% of the population identifying as white. The white population has grown by 6.0% in the last 5 years. The second most common race or ethnicity in Spencer, VA is black, making up 16.7% of the population. Foreign-born residents account for 1.8% of the population in Spencer, VA, and this percentage has increased by 12.5% as of the ACS Survey 5 years prior, suggesting more immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 82.6% | 6.0% |
% Black | 16.7% | 9.2% |
% Hispanic | 0.2% | -95.1% |
% Asian | 0.0% | -100.0% |
% Foreign Born | 1.8% | 12.5% |
Mortgage and Risk — Spencer, VA
Spencer, VA lacks sufficient mortgage origination data for analysis.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | N/A |
% Conventional Loans | N/A |
% Government Loans | N/A |
% Investor Loans | N/A |
% Second Loans | N/A |
% Cash Out Refinance | N/A |
Loan Activity
No data available
Rentals and Section 8 — Spencer, VA
Spencer, VA lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 2 |
Total Units Section 8 | 2 |
% Rentals under Section 8 | N/A |
% Occupied Section 8 | N/A |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | N/A | N/A | $790 |
| 2 Bedroom | N/A | N/A | $980 |
| 3 Bedroom | N/A | N/A | $1,180 |
| 4 Bedroom | N/A | N/A | $1,460 |
Affordability — Spencer, VA
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 2.4 |
| Median Home Price | $150,000 |
| Median Household Income | $62,200 |