Spencer, OH
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Highest Appreciating Spencer Neighborhoods Since 2000




Spencer, OH Real Estate Data

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q1 2017. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2015 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

Spencer Housing Market Information

With 764 people, 259 houses or apartments, and a median cost of homes of $178,624, Spencer real estate prices are well above average cost compared to national prices.

Single-family detached homes are the single most common housing type in Spencer, accounting for 67.38% of the village's housing units. Other types of housing that are prevalent in Spencer include duplexes, homes converted to apartments or other small apartment buildings ( 17.92%), large apartment complexes or high rise apartments ( 9.32%), and a few row houses and other attached homes ( 4.30%).

The most prevalent building size and type in Spencer are three and four bedroom dwellings, chiefly found in single-family detached homes. The village has a mixture of owners and renters, with 61.39% owning and 38.61% renting.

The housing in Spencer was primarily built before 1939 ( 50.54%), making the housing stock in Spencer some of the oldest overall in America, although there is a range of ages of homes in Spencer. The next most important housing age is between 1970-1999 ( 27.60%), followed by between 1940-1969 ( 17.56%). There's also some housing in Spencer built between 2000 and later ( 4.30%).

Spencer Home Appreciation Rates

Real estate appreciation rates in Spencer's have tracked to near the national average over the last then years, with the annual appreciation rate averaging -0.59% during the period.

Appreciation rates are so strong in Spencer that despite a nationwide downturn in the housing market, Spencer real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Spencer appreciation rates continue to be some of the highest in America, at 6.41%, which is higher than appreciation rates in 77.26% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Spencer. Spencer appreciation rates in the latest quarter were at -0.21%, which equates to an annual appreciation rate of -0.82%.

Relative to Ohio, our data show that Spencer's latest annual appreciation rate is higher than 90% of the other cities and towns in Ohio.

Average Home Values

 

Median Home Value:
$178,624

Spencer, OH HOME PRICES

Value Range
> $1,121,000 0.0
$841,001 - $1,121,000 0.0
$560,001 - $841,000 1.1
$448,001 - $560,000 1.9
$336,001 - $448,000 6.0
$224,001 - $336,000 17.3
$112,001 - $224,000 52.0
$56,001 - $112,000 19.7
$0 - $56,000 2.0

High for OH
High for Nation

Value Relative to Nation Value Relative to State
38.6030704324388 21.7847769028871

Number Of Homes And Apartments:
259

Spencer Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
OH*
Compared To
America*
Latest Quarter:
2016 Q4 - 2017 Q1
Last 12 Months:
2016 Q1 - 2017 Q1
Last 2 Years:
2015 Q1 - 2017 Q1
Last 5 Years:
2012 Q1 - 2017 Q1
Last 10 Years:
2007 Q1 - 2017 Q1
Since 2000:
2000 Q1 - 2017 Q1
13.97% 0.76% 6 2
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$798 / per month

Homeownership Rate

Homeownership
Owners 61.39
Renters 38.61
Vacant 7.17

Housing Market Details

 

Age of Homes

AGE OF Spencer HOMES
2000 or Newer 4.3
1970 - 1999 27.6
1940 - 1969 17.6
1939 or Older 50.5

Types of Homes

TYPE OF Spencer HOMES
Single-Family 67.4
Townhomes 4.3
Small Apt. Buildings 17.9
Apt. Complexes 9.3
Mobile Homes 1.1
Other 0.0

Home Size

SIZE OF Spencer HOMES
No Bedroom 3.58
1 Bedroom 11.47
2 Bedrooms 25.81
3 Bedrooms 42.29
4 Bedrooms 15.05
5 or more bedrooms 1.79