Spencer, OH—44275
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Spencer, OH
As of Oct '25, the median home price in Spencer, OH is $313,000, with a year-over-year change of 1.1%. This indicates that home prices in Spencer, OH are increasing. 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 | $313,000 | 1.1% |
| Single Family | $314,000 | 1.0% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $224,000 | 0.0% |
3 Bed | $316,000 | 0.3% |
4 Bed | $383,000 | 3.2% |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Spencer, OH
As of July '25, Rentcast reports the average rent in Spencer, OH is $1,780, with a year-over-year rent change of 29.0%. Per bedroom, the median rent as of July '25 in Spencer, OH is 4-bedrooms: $1,780. The most common rental property sizes in Spencer, OH are 3-bedroom and 2-bedroom, accounting for 40.6% and 26.5% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,780 | $1,780 |
| 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 | $1,780 | $1,780 |
% of Rental Stock
Property Listings — Spencer, OH
As of Oct '25, Realtor.com reports that the median days on market for a home in Spencer, OH is 57. This is a increase of 149.0% from last year, suggesting that homes are sitting on the market longer 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 | $387,000 | 0.0% |
Listing Count | 10 | 24.0% |
| Listings as % of Homes | 0.5% | 24.0% |
Days on Market | 57 | 149.0% |
Demographics — Spencer, OH
As of the latest ACS Survey released in 2023, Spencer, OH has a population of 3,190, which has decreased by -2.7% over the past 5 years. Spencer, OH is a less popular place for families, as children make up 14.7% of the population. The area has a poorly educated workforce, with 14.3% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 5.3% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 3,190 | -2.7% |
% Under 18 | 14.7% | -20.1% |
% Seniors | 21.3% | 37.4% |
% WFH | 5.3% | 120.8% |
% w/ College Degree | 14.3% | -16.9% |
As of the latest ACS Survey released in 2023, Spencer, OH is a predominantly white area, with 90.4% of the population identifying as white. The white population has shrunk by 6.6% in the last 5 years. The second most common race or ethnicity in Spencer, OH is black, making up 3.0% of the population. Foreign-born residents account for 1.6% of the population in Spencer, OH, and this percentage has increased by 700.0% 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 | 90.4% | -6.6% |
% Black | 3.0% | ∞% |
% Hispanic | 0.5% | -83.9% |
% Asian | 0.0% | N/A |
% Foreign Born | 1.6% | 700.0% |
Mortgage and Risk — Spencer, OH
According to HUD data as of 2023, there were 117 mortgage originations in Spencer, OH, of which 85.0% of loans were conventional mortgages. The average loan-to-value was 54.0%, with 17.0% above 90% LTV (elevated). This implies medium mortgage risk in Spencer, OH. Investor activity is low, as 0.0% of loans were by investors. 18.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 117 |
% Conventional Loans | 85.0% |
% Government Loans | 15.0% |
% Investor Loans | 0.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 18.0% |
Loan Activity
Rentals and Section 8 — Spencer, OH
Spencer, OH lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 4 |
Total Units Section 8 | 4 |
% Rentals under Section 8 | 1.8% |
% Occupied Section 8 | N/A |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | N/A | N/A | $1,010 |
| 2 Bedroom | N/A | N/A | $1,230 |
| 3 Bedroom | N/A | N/A | $1,580 |
| 4 Bedroom | -$80 | $1,780 | $1,700 |
Affordability — Spencer, OH
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 2.7 |
| Median Home Price | $313,000 |
| Median Household Income | $102,000 |