Much like its nearby areas, it's a lot less expensive compared to the entire nation. Compared to the city of Mitchell, it's significantly less expensive.
Home prices
The median home in Spencer is valued at $76,000. It is about $2,680 (3%) higher compared to its nearby areas.It is about $141,500 (65%) lower compared to the nation as a whole, and it is roughly $71,200 (48%) lower in comparison to the city of Mitchell.
Rents
Spencer's median monthly rent is $558. Compared to its surrounding areas it is roughly $35 (6%) higher.It is about $504 (47%) lower compared to the nation as a whole, and compared to the city of Mitchell is approximately $198 (26%) lower.
Nearby places
Butte
Butte is roughly 6 miles west from Spencer. Real estate prices there are significantly less expensive. The median home value in Butte is $42,500, which works out to $33,500 (78%) lower than Spencer. Its rents are somewhat less expensive. Butte's median rent is $483 per month, which works out to $75 (15%) lower than Spencer.
Lynch
Lynch is roughly 10 miles east from Spencer. Real estate prices there are significantly less expensive. The median home in Lynch costs $31,300, which works out to $44,700 (142%) lower than Spencer. Its rents are fairly similar. Lynch's median rent is $575 a month, which works out to $17 (2%) higher than Spencer.
Fairfax
Fairfax is approximately 12 miles northwest of Spencer. The real estate prices there are substantially less expensive. The median home in Fairfax costs $46,700, which works out to $29,300 (62%) lower than Spencer. Rents there are substantially less expensive. Fairfax's median monthly rent is $413, which comes out to $145 (35%) lower than Spencer.
Pickstown
Pickstown is about 14 miles northeast from Spencer. Housing prices there are a lot more expensive. The median home in Pickstown costs $194,400, which is $118,400 (60%) higher than Spencer. Its rents are a little more expensive. The median monthly rent in Pickstown is $675, which works out to $117 (17%) higher than Spencer.
Bonesteel
Bonesteel is approximately 16 miles northwest from Spencer. Its housing prices are significantly less expensive. Bonesteel's median home cost is $51,700, which is $24,300 (47%) lower than Spencer. The rent there is somewhat less expensive. In Bonesteel the median rent is $469 per month, which works out to $89 (18%) lower than Spencer.
