SPENCER HOUSING MARKET INFORMATION With a population of 2,464, 1,079 total housing units (homes and apartments), and a median house value of $224,697, 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 62.98% of the town's housing units. Other types of housing that are prevalent in Spencer include duplexes, homes converted to apartments or other small apartment buildings ( 12.10%), mobile homes or trailers ( 10.89%), and a few large apartment complexes or high rise apartments ( 10.24%). People in Spencer primarily live in small (one, two or no bedroom) single-family detached homes. Spencer has a mixture of owner-occupied and renter-occupied housing. The housing in Spencer was primarily built before 1939 ( 42.50%), 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 1940-1969 ( 28.71%), followed by between 1970-1999 ( 24.60%). There's also some housing in Spencer built between 2000 and later ( 4.19%). Vacant housing appears to be an issue in Spencer. Fully 12.98% 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 Appreciation rates for homes in Spencer have been tracking above average for the last ten years, according to 蘑菇视频 data. The cumulative appreciation rate over the ten years has been 95.14%, which ranks in the top 50% nationwide. This equates to an annual average Spencer house appreciation rate of 6.91%. 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 8.86%, which is higher than appreciation rates in 71.37% 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 0.92%, which equates to an annual appreciation rate of 3.72%. Relative to Indiana, our data show that Spencer's latest annual appreciation rate is lower than 60% of the other cities and towns in Indiana.