Cost of Living in Spencer County, Kentucky
At a Glance
Rent burden measured as median gross rent as a percentage of renter household income (Census ACS B25071)
These figures are county medians, not a personal budget. Use them to frame rent, ownership, and income tradeoffs, then account for household size, commute, financing, insurance, taxes, debt, and local availability before making a decision.
How Spencer County Compares
Median monthly rent comparison
Detailed Housing Stats
National Ranking
Affordability Rank
Spencer County ranks #2,506 of 3,142 counties for affordability (bottom 20%)
Sourced county brief
Spencer County Median Monthly Owner Costs Reach $1,506
Median selected monthly owner costs for all owner-occupied units in Spencer County were $1,506, as reported by the ACS 2020-2024 5-Year Estimates. This figure is $753 above the Kentucky unweighted county mean owner cost of $753. The official B25071 GRAPI, which measures median gross rent as a percentage of household income, was estimated at 28.8%. This is 1.6 percentage points higher than the state unweighted county mean official GRAPI of 27.2%. The median home value in the county was $330,000, exceeding the state unweighted county mean of $160,835. Median gross rent was $987 per month, while the state unweighted county mean was $793. Renter-household median income was estimated at $45,539. All data points are snapshots from the 2020-2024 period and do not constitute market forecasts. See ACS table B25071 for the underlying estimate.
Source record
- U.S. Census Bureau ACS 2020-2024 5-Year Estimates — B25064 Median Gross Rent
- U.S. Census Bureau ACS 2020-2024 5-Year Estimates — B25071 GRAPI
- U.S. Census Bureau ACS 2020-2024 5-Year Estimates — B25077 Median Home Value
- U.S. Census Bureau ACS 2020-2024 5-Year Estimates — B25088 Selected Monthly Owner Costs
- U.S. Census Bureau ACS 2020-2024 5-Year Estimates — B25119 Household Income by Tenure
Data version acs5-2020-2024 · Method cost-brief-v1
Cost of Living Advisory: Spencer County
Affordability Verdict
ACS B25071 estimates median gross rent at 28.8% of renter household income in Spencer County, which is below the 30% affordability benchmark. This is a median percentage among renter-occupied units, not the share of households above a threshold.
Rent vs. Own
Median gross rent is $987 per month; median selected monthly owner costs are $1,506. These ACS medians describe different tenure groups and are not a personalized rent-versus-buy calculation.
Income Needed
Using the common 30% budgeting benchmark, $39,480 in annual gross income would allocate 30% to the county's median gross rent. This is a reproducible illustration, not evidence that a particular household can afford housing.
Regional Context
The Kentucky unweighted mean of county median rents is $793 per month. Spencer County's $987 median is 24.4% above that comparison value.
Data version acs5-2020-2024 · Method cost-advisory-v2
Affordability Calculator
See how your income compares to housing costs in Spencer County
Rent Burden
11.5%
of gross income
Max Housing (28% Rule)
$2,394
per month
Owner Cost Burden
17.6%
of gross income
The median home in Spencer County may be a stretch
Median home value is $330,000. Estimated monthly cost: $2,635 vs. your max of $2,394.
Rent Affordability Guide
Income Needed Calculator
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Based on the 30% rule for rent and 28% rule for housing costs (mortgage + owner costs). Mortgage estimate assumes 20% down, 7.2% interest, 30-year fixed.
Frequently Asked Questions
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See Today's RatesData: U.S. Census Bureau, American Community Survey (ACS) 5-Year Estimates (2020-2024). Data is informational only and is not personalized financial advice.
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