Cost of Living in Spencer, MA: Rent, Income & Home Prices

OKRent takes 21 cents of every $1 people earn here.

🏠 Rent per month (2026)$1,15734% lower than U.S. average

💵 Families earn per year (2026)$64,636about $5,386/month · 26% lower than U.S. average

🔑 House price$341,3003% higher than U.S. average

Rent is lower than in 78% of U.S. cities. A typical house costs about 5.3 years of household income. Commutes are long, about 34.7 minutes each way. Most households rent (60%), so there are plenty of rental options.

How much money do I need?

To rent here comfortably, you should earn about $46,280 a year. That is $22 an hour at a full-time job.

Is rent cheaper than other Massachusetts cities?

Yes. Rent here is cheaper than in most of Massachusetts. It is number 6 of 123 cities from cheapest to most expensive.

Spencer

$1,157

$1,953

$2,570

$1,327

$975

$2,952

$1,023

How much do households earn in Spencer?

Under $25k

18.3%

$25k–50k

22.4%

$50k–100k

32.1%

$100k–150k

8.3%

$150k+

10.5%

Share of households by yearly income. 18.8% of households earn $100,000 or more.

Rent by apartment size in Spencer

Size	Spencer	U.S. average
1 bedroom	$689	$1,324
2 bedrooms	$1,313	$1,509

Median monthly rent plus utilities for all renters, by number of bedrooms.

How expensive is Spencer overall?

Everyday prices in Massachusetts overall are 6% above the U.S. average (index 105.8, U.S. = 100).

Housing

128

Goods (food, clothes…)

Utilities

152

Other services

103

U.S. average

100

Source: U.S. Bureau of Economic Analysis, Regional Price Parities 2024. City-level data is not published for Spencer, so the Massachusetts figure is shown.

Taxes and bills in Spencer

🏛️ Property tax$3,749a year · 1.10% of home value · U.S. $3,119

⚡ Electric bill$201a month (typical) · U.S. $156

Life in Spencer

Commute to work34.7 minU.S.: 26.4 min

College degree16.8%U.S.: 35.7%

Own their home40.2%U.S.: 65.2%

Below poverty line15.8%U.S.: 12.5%

Unemployment6.4%U.S.: 5.2%

Is it cheaper to rent or buy in Spencer?

Renting is cheaper right now: about $1,211 a month less.

Renting

$1,157

Owning

$2,368

Owning assumes a typical $341,300 home, 10% down, a 30-year loan at 6.5% and about 1.5% a year for taxes and insurance. You would also need $34,130 for the down payment.

Frequently asked questions

What is the average rent in Spencer, MA?

Renting in Spencer costs a median of about $1,157 a month in 2026, including utilities. The Massachusetts median is $2,331.

How much do I need to make to live in Spencer?

To keep rent under 30% of income, you need about $46,280 a year, or $22 an hour at a full-time job.

Is Spencer cheap or expensive?

Spencer is rated OK: rent takes 21.5% of the typical household income of $64,636. It ranks 6th cheapest of 123 Massachusetts cities we track.

How much are property taxes in Spencer?

The median homeowner in Spencer pays $3,749 a year in property taxes, about 1.10% of the median home value.

Is Spencer more expensive than the national average?

Overall prices in Massachusetts are 6% above the U.S. average, according to the U.S. Bureau of Economic Analysis.

How much does a house cost in Spencer?

The median home value in Spencer is $341,300, about 5.3 times the typical yearly household income.

5,661 people live in Spencer. Numbers are typical (middle) values.

Is Spencer, MA expensive to live in?