IncomeBy County

Spencer County, Indiana

Income Data

U.S. Census Bureau ACS
+3% vs. Indiana average
$70,890
Median Household Income
$36,718
Per Capita Income

At a Glance

Median Household Income
$70,890
+3% vs. state avg
Per Capita Income
$36,718
-7% vs. national
Income-to-Housing Ratio
39.3%
income as % of home value
Rank in Indiana
#31 / 92
by median household income

Economic Indicators

Unemployment Rate
N/A
Labor Force Participation
N/A

How Spencer County Compares

Spencer County$70,890
Indiana Average$68,681
National Median$74,755

Detailed Income Statistics

$70,890
Median Household Income
$36,718
Per Capita Income
$180,200
Median Home Value
39.3%
Income-to-Housing Ratio

Income Advisory: Spencer County

Income Verdict

Spencer County has a median household income of $70,890 and per capita income of $36,718 — a gap of $34,172, suggesting a typical mix of dual-income and single-earner households.

Housing Affordability

With median gross rent at $697/month and a median household income of $70,890, rent consumes approximately 11.8% of monthly income — well within affordable thresholds.

Economic Context

A median household income of $70,890 suggests moderate-to-strong purchasing power, generally sufficient to cover essentials with room for discretionary spending in most markets. Per capita income of $36,718 is in line with national norms for individual earners.

Neighbor Context

Spencer County earns approximately 3.2% above the Indiana state median household income of $68,681, positioning it favorably within the state.

Data Story

About Household Income in Spencer County, Indiana

Spencer income tops national median

Spencer County's median household income of $70,890 falls slightly below the national median of $74,755, placing it in the middle tier nationally. While not among the wealthiest counties, Spencer households earn more than the vast majority of rural American communities, reflecting a stable working-class economy.

Above average for Indiana

Spencer County's $70,890 median ranks above Indiana's state average of $68,681, positioning it in the upper half of the state's 92 counties. Per capita income of $36,718 also exceeds the state average of $34,773, suggesting stronger individual earning power.

Competitive with surrounding counties

Spencer County outearns neighboring Warrick and Perry counties and matches the income profile of comparable rural Indiana counties. Its median sits solidly above smaller counties like Sullivan ($54,985) and Starke ($62,933), reflecting a more diversified local economy.

Rent is manageable here

The 11.8% rent-to-income ratio indicates that housing affordability is strong in Spencer County—well below the national 30% benchmark. Combined with a median home value of $180,200, residents enjoy reasonable pathways to both renting and homeownership.

Build on Spencer's stability

With above-average income and low housing burden, Spencer County residents have genuine capacity to save and invest. Consider setting aside 10–15% of household income for retirement, emergency funds, and wealth-building—your local economy provides the foundation for financial security.

Frequently Asked Questions

What is the median household income in Spencer County, Indiana?
The median household income in Spencer County, Indiana is $70,890, according to U.S. Census Bureau American Community Survey 2019-2023 5-Year Estimates. This represents the midpoint of all household incomes in the county.
How much do people earn in Spencer County?
The per capita income in Spencer County is $36,718, which represents the average income per person across the entire county population. The median household income — which accounts for all earners in a household — is $70,890.
How does Spencer County compare to the Indiana average?
Spencer County's median household income of $70,890 is higher than the Indiana state average of $68,681. The per capita income is $36,718, compared to the state average of $34,773.
What is the per capita income in Spencer County, Indiana?
The per capita income in Spencer County, Indiana is $36,718, according to U.S. Census Bureau American Community Survey 2019-2023 5-Year Estimates. Per capita income is calculated by dividing total personal income by total population, providing an average income figure per resident.
Why is Spencer County income higher than the Indiana average?
Spencer County's median household income of $70,890 is higher than the Indiana average of $68,681. This difference of $2,209 can be attributed to factors such as local industry mix, proximity to major employment centers, educational attainment levels, and cost of living. Counties with higher incomes often have a greater concentration of professional and technical occupations.
How does Spencer County rank for income in Indiana?
Spencer County ranks #31 out of 92 counties in Indiana by median household income (1 = highest). With a median household income of $70,890 and per capita income of $36,718, it falls in the top third of counties statewide.

Income Comparison Calculator

See how your household income compares in Spencer County

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Your income is above the Spencer County median

County median: $70,890 per year

vs. County Median

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vs. State Average

+3%

vs. National Median

-5%

vs. Spencer County MedianAbout equal
vs. Indiana Average▲ 3% above
vs. National Median▼ 5% below

Income Adequacy

Monthly income covers median rent8.5x

Your monthly income ($5,908) vs. median rent ($697/mo). A ratio of 3.3x or higher means rent is under 30% of income.

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Counties with Similar Income Levels

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$70,908
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$70,909
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Otter Tail County
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$70,912
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Sheridan County
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$70,855
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Baker County
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$70,833
+0%
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By Logan Johnson, Founder & Data EditorUpdated Reviewed by Logan Johnson, Founder & Data Editor

Data: U.S. Census Bureau, American Community Survey (ACS) 5-Year Estimates (2019-2023) — Informational only. Not financial or legal advice.

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