Spencer, TN
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating Spencer Neighborhoods Since 2000




Spencer, TN 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 1,634 people, 619 houses or apartments, and a median cost of homes of $102,556, 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 72.87% of the town's housing units. Other types of housing that are prevalent in Spencer include mobile homes or trailers ( 15.11%), large apartment complexes or high rise apartments ( 6.88%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 4.45%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Spencer. Owner-occupied housing accounts for 76.66% of Spencer's homes, and 67.48% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Spencer built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Spencer built between 1940-1969 ( 26.45%). A lesser amount of the housing stock also hails from before 1939 ( 9.31%). There's also some housing in Spencer built between 2000 and later ( 4.45%).

Vacant housing appears to be an issue in Spencer. Fully 16.46% of the housing stock is classified as vacant. Left unchecked, vacant Spencer homes and apartments can be a drag on the real estate market, holding Spencer real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.

Spencer Home Appreciation Rates

In the last 10 years, Spencer has experienced some of the highest home appreciation rates of any community in the nation. Spencer real estate appreciated 19.47% over the last ten years, which is an average annual home appreciation rate of 1.79%, putting Spencer in the top 20% nationally for real estate appreciation. If you are a home buyer or real estate investor, Spencer definitely has a track record of being one of the best long term real estate investments in America through the last ten years.

NeighborhoodScout's data show that during the latest twelve months, Spencer's appreciation rate, at 4.11%, has been at or slightly above the national average. In the latest quarter, Spencer's appreciation rate has been 0.00%, which annualizes to a rate of 0.00%.

Relative to Tennessee, our data show that Spencer's latest annual appreciation rate is higher than 50% of the other cities and towns in Tennessee.

Average Home Values

 

Median Home Value:
$102,556

Spencer, TN HOME PRICES

Value Range
> $1,110,000 1.0
$833,001 - $1,110,000 1.1
$555,001 - $833,000 0.8
$444,001 - $555,000 1.1
$333,001 - $444,000 3.1
$222,001 - $333,000 13.0
$111,001 - $222,000 21.5
$55,001 - $111,000 39.9
$0 - $55,000 18.5

Low for TN
Low for Nation

Value Relative to Nation Value Relative to State
75.9433962264151 69.6428571428571

Number Of Homes And Apartments:
619

Spencer Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
TN*
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
50.45% 2.40% 9 6
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$594 / per month

Homeownership Rate

Homeownership
Owners 76.66
Renters 23.34
Vacant 16.46

Housing Market Details

 

Age of Homes

AGE OF Spencer HOMES
2000 or Newer 4.5
1970 - 1999 59.8
1940 - 1969 26.5
1939 or Older 9.3

Types of Homes

TYPE OF Spencer HOMES
Single-Family 72.9
Townhomes 0.7
Small Apt. Buildings 4.5
Apt. Complexes 6.9
Mobile Homes 15.1
Other 0.0

Home Size

SIZE OF Spencer HOMES
No Bedroom 0.27
1 Bedroom 4.45
2 Bedrooms 26.99
3 Bedrooms 58.70
4 Bedrooms 8.77
5 or more bedrooms 0.81

Popular Neighborhoods in Spencer

Zip Codes in Spencer, TN