Spencer, NY—14883
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Spencer, NY
As of Oct '25, the median home price in Spencer, NY is $205,000, with a year-over-year change of 4.5%. This indicates that home prices in Spencer, NY are increasing. According to Zillow, the 1-year price projection is 2.4%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $205,000 | 4.5% |
| Single Family | $205,000 | 4.6% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $174,000 | 4.2% |
3 Bed | $209,000 | 4.5% |
4 Bed | $239,000 | 4.4% |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Spencer, NY
Spencer, NY lacks sufficient rental market data for analysis.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,600 | $1,600 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | N/A | N/A |
| 2 Bed Rent | N/A | N/A |
| 3 Bed Rent | $1,600 | $1,600 |
| 4 Bed Rent | N/A | N/A |
% of Rental Stock
Property Listings — Spencer, NY
As of Oct '25, Realtor.com reports that the median days on market for a home in Spencer, NY is 72. This is a increase of 49.0% 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 | $298,000 | 63.0% |
Listing Count | 16 | 25.0% |
| Listings as % of Homes | 0.5% | 25.0% |
Days on Market | 72 | 49.0% |
Demographics — Spencer, NY
As of the latest ACS Survey released in 2023, Spencer, NY has a population of 4,520, which has decreased by -3.1% over the past 5 years. Spencer, NY is a moderately popular place for families, as children make up 20.8% of the population. The area has a moderately educated workforce, with 30.3% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 9.6% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 4,520 | -3.1% |
% Under 18 | 20.8% | -13.7% |
% Seniors | 16.2% | 14.1% |
% WFH | 9.6% | 860.0% |
% w/ College Degree | 30.3% | 13.1% |
As of the latest ACS Survey released in 2023, Spencer, NY is a predominantly white area, with 95.8% of the population identifying as white. The white population has grown by 4.0% in the last 5 years. The second most common race or ethnicity in Spencer, NY is black, making up 0.9% of the population. Foreign-born residents account for 1.9% of the population in Spencer, NY, and this percentage has decreased by 67.8% as of the ACS Survey 5 years prior, suggesting fewer immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 95.8% | 4.0% |
% Black | 0.9% | -65.4% |
% Hispanic | 0.5% | -82.1% |
% Asian | 0.9% | 0.0% |
% Foreign Born | 1.9% | -67.8% |
Mortgage and Risk — Spencer, NY
According to HUD data as of 2023, there were 42 mortgage originations in Spencer, NY, of which 88.0% of loans were conventional mortgages. The average loan-to-value was 68.0%, with 26.0% above 90% LTV (very high). This implies large mortgage risk in Spencer, NY. Investor activity is low, as 2.0% of loans were by investors. 2.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 42 |
% Conventional Loans | 88.0% |
% Government Loans | 12.0% |
% Investor Loans | 2.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 2.0% |
Loan Activity
Rentals and Section 8 — Spencer, NY
Spencer, NY lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 21 |
Total Units Section 8 | 21 |
% Rentals under Section 8 | 4.1% |
% Occupied Section 8 | 90.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | N/A | N/A | $1,300 |
| 2 Bedroom | N/A | N/A | $1,500 |
| 3 Bedroom | $260 | $1,600 | $1,860 |
| 4 Bedroom | N/A | N/A | $2,010 |
Affordability — Spencer, NY
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 2.9 |
| Median Home Price | $205,000 |
| Median Household Income | $62,400 |