Spencer, IA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating Spencer Neighborhoods Since 2000




Spencer, IA Real Estate Data


Spencer Housing Market Information

With 11,212 people, 5,015 houses or apartments, and a median cost of homes of $136,631, house prices in Spencer are solidly below the national average.

Single-family detached homes are the single most common housing type in Spencer, accounting for 68.48% of the city's housing units. Other types of housing that are prevalent in Spencer include large apartment complexes or high rise apartments ( 18.17%), duplexes, homes converted to apartments or other small apartment buildings ( 7.80%), and a few row houses and other attached homes ( 3.66%).

Dwellings in Spencer tend to be quite small (one, two, or no bedrooms) and owner occupied. In fact, 47.89% of the homes in Spencer have two or fewer bedrooms.

At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. Spencer's housing was primarily built during this period, from the '40s through the '60s. A full 40.00% of the city's housing hails from this era. Other housing ages represented in Spencer include homes built between 1970-1999 ( 37.87%) and housing constructed before 1939 ( 14.98%). There's also some housing in Spencer built between 2000 and later ( 7.16%).

Spencer Home Appreciation Rates

Appreciation rates for homes in Spencer have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 11.05%, which ranks in the top 40% nationwide. This equates to an annual average Spencer house appreciation rate of 1.05%.

Over the last year, Spencer appreciation rates have trailed the rest of the nation. In the last twelve months, Spencer's appreciation rate has been 3.27%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Spencer were at -0.32%, which equates to an annual appreciation rate of -1.26%.

Notably, Spencer's appreciation rate in the latest quarter is one of the lowest in America.

Relative to Iowa, our data show that Spencer's latest annual appreciation rate is lower than 80% of the other cities and towns in Iowa.

Average Home Values

 

Median Home Value:
$136,631

Spencer, IA HOME PRICES

Value Range
> $1,299,000 0.0
$974,001 - $1,299,000 0.0
$649,001 - $974,000 0.3
$519,001 - $649,000 0.9
$390,001 - $519,000 3.8
$260,001 - $390,000 10.2
$130,001 - $260,000 41.1
$65,001 - $130,000 35.4
$0 - $65,000 8.2

Average for IA
Average for Nation

Value Relative to Nation Value Relative to State
57.3637055688938 41.9753086419753

Number Of Homes And Apartments:
5,015

Rent & Ownership

 

Average Market Rent:
$720 / per month

Homeownership Rate

Homeownership
Owners 68.23
Renters 31.77
Vacant 9.61

Housing Market Details

 

Age of Homes

AGE OF Spencer HOMES
2000 or Newer 7.2
1970 - 1999 37.9
1940 - 1969 40.0
1939 or Older 15.0

Types of Homes

TYPE OF Spencer HOMES
Single-Family 68.5
Townhomes 3.7
Small Apt. Buildings 7.8
Apt. Complexes 18.2
Mobile Homes 1.9
Other 0.0

Home Size

SIZE OF Spencer HOMES
No Bedroom 1.53
1 Bedroom 13.28
2 Bedrooms 33.07
3 Bedrooms 33.74
4 Bedrooms 13.95
5 or more bedrooms 4.42

Spencer Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
IA*
Compared To
America*
Latest Quarter:
2016 Q2 - 2016 Q3
Last 12 Months:
2015 Q4 - 2016 Q3
Last 2 Years:
2014 Q4 - 2016 Q3
Last 5 Years:
2011 Q4 - 2016 Q3
Last 10 Years:
2006 Q4 - 2016 Q3
Since 2000:
2000 Q1 - 2016 Q3
36.54% 1.85% 3 4
* 10 is highest

Popular Neighborhoods in Spencer

Popular Communities Near Spencer, IA

Zip Codes in Spencer, IA