Cost of Living in Spencer, IA
Overall index: 72 (100 = US national average). Data source: US Census ACS 2023 & BLS OEWS 2025, 2025.
Overall Cost of Living Index
Cost Breakdown by Category
| Category | Index | vs US avg | Sample cost |
|---|---|---|---|
| Housing | 51 | -49% | $557 |
| Transportation | 103 | +3% | $3.50 |
| Food | 76 | -24% | $312 |
| Utilities | 76 | -24% | $92 |
| Healthcare | 76 | -24% | $66 |
Index 100 = US national average. Higher = more expensive.
Cost breakdown (visual)
Salary Calculator: What do you need to earn in Spencer?
A single adult living comfortably in Spencer, IA needs approximately $25,200 / year after taxes.
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Frequently Asked Questions
What is the cost of living in Spencer, IA?
The overall cost of living in Spencer, IA is 28% lower than the US national average (index: 72 where 100 = national average).
How much is rent in Spencer, IA?
Average rent for a 1-bedroom apartment in Spencer, IA is about $557/month.
Is Spencer, IA expensive to live in?
No, Spencer, IA is affordable (below national average).
What salary do I need to live in Spencer, IA?
A single adult needs roughly $25,200/year to cover basic living costs in Spencer, IA.