Albert S. Heck Mansion · Photo: Coal town guy · CC BY-SA 4.0Measured against area pay, Spencer costs less to live in than 60% of U.S. towns
Up 5.3% in a year, 34% below the West Virginia typical home.
Census 2020–24 home values, rents, tax bills and cost burden, measured against the median household income of Roane County, WV ($46K). How TownRatings grades cost of living
The grade compares costs with what households across Roane County earn ($46K, Census 2020–24). The typical home costs 2.6 years of area income, and 59% of renters pay 30% or more of income for housing.
In dollars
- $117Ktypical home, 34% below the West Virginia typical homeZillow, September 2026
- $900a month for a two-bedroom, utilities includedHUD Fair Market Rent, 2026
In paychecks the grade
- 2.6 yrsof area income buys the typical home; the typical U.S. town: 3.3$46K, Roane County income
- 19%of area income goes to the median rent; the typical U.S. town: 18%Census 2020–24
- 59%of renters pay 30%+ of income for housing; across West Virginia: 49%Census 2020–24
- 13%of owners do; the typical U.S. town: 20%Census 2020–24
Housing in Spencer, in brief
Owning can cost less than renting
With 20% down at the calculator’s rate, the typical Spencer home runs about $670 a month with tax and insurance. A two-bedroom rents for about $900. Can I afford it? ↓
Values have lagged West Virginia
The typical Spencer home is up 6.4% in five years, against a gain of 23% across West Virginia. Over the ten years on the chart it’s up 36%, against 58% statewide. Price trend ↓
Written from the data on this page. Home values are the Zillow Home Value Index, through September 2026; permits are Census figures through 2025; incomes, rents paid, taxes and ownership come from the Census American Community Survey.
What’s behind Spencer’s grade
Measured against what households in the area earn, Spencer is more affordable than 60% of U.S. towns. The share of households paying 30%+ for housing pulls the grade down most; property tax holds it up.
Values have lagged West Virginia: the typical Spencer home is up 6.4% in five years, against 23.3% statewide (Zillow).
Up 6.4% in five years
Slower than West Virginia (23.3%).
Show as a table
| January | Spencer | West Virginia |
|---|---|---|
| 2017 | $86,000 | $112,000 |
| 2018 | $81,000 | $114,000 |
| 2019 | $86,000 | $119,000 |
| 2020 | $89,000 | $120,000 |
| 2021 | $103,000 | $135,000 |
| 2022 | $113,000 | $146,000 |
| 2023 | $112,000 | $156,000 |
| 2024 | $108,000 | $161,000 |
| 2025 | $114,000 | $172,000 |
| 2026 | $114,000 | $173,000 |
| September 2026 | $117,000 | $177,000 |
A typical Spencer home worth $86K in October 2016 is worth about $117K today.
Zillow Home Value Index: the typical value of all homes (middle third), smoothed and seasonally adjusted, through September 2026.
A typical home costs 2.6 years of area income
The calculator starts from the area income the grade uses. Switch to Spencer’s own median, or type yours.
That covers a typical Spencer home, with $72K to spare.
A two-bedroom rents for about $900 a month here, $230 more than owning.
An estimate, not a loan offer: payments of up to 28% of income, a 30-year fixed loan, Spencer’s typical property tax (0.53% of value a year, from the Census) and insurance of about 0.35%. Mortgage insurance, HOA fees and other debts aren’t included.
A two-bedroom rents for about $900
Renters already here pay a median of $738, so moving in tends to cost more than staying put.
Fair Market Rent a month, utilities included
U.S. Department of Housing and Urban Development, Fair Market Rents by ZIP code (Calhoun County, WV): the 40th-percentile rent plus utilities for a standard unit. Median rent and renters: U.S. Census Bureau, American Community Survey.
No new homes permitted in 2025
No permits for new homes were issued in Spencer in 2025. The last year with any was 2021 (1 new home).
Between the 2010 and 2020 censuses, Spencer's population fell by 259 even though 3 new homes were permitted. Homes are holding fewer people: households are getting smaller, or more homes are used part of the year.
Every year as a table
| Year | New homes | Single-family | 2+ per building | Value |
|---|---|---|---|---|
| 2026 (Jan–Aug) | 0 | 0 | 0 | — |
| 2025 | 0 | 0 | 0 | — |
| 2024 | 0 | 0 | 0 | — |
| 2023 | 0 | 0 | 0 | — |
| 2022 | 0 | 0 | 0 | — |
| 2021 | 1 | 1 | 0 | $18,000 |
| 2020 | 0 | 0 | 0 | — |
| 2019 | 0 | 0 | 0 | — |
| 2018 | 0 | 0 | 0 | — |
| 2017 | 0 | 0 | 0 | — |
| 2016 | 0 | 0 | 0 | — |
| 2015 | 0 | 0 | 0 | — |
| 2014 | 0 | 0 | 0 | — |
| 2013 | 0 | 0 | 0 | — |
| 2012 | 0 | 0 | 0 | — |
| 2011 | 3 | 3 | 0 | $198,000 |
| 2010 | 0 | 0 | 0 | — |
| 2009 | 1 | 1 | 0 | $78,000 |
| 2008 | 1 | 1 | 0 | $49,000 |
| 2007 | 2 | 2 | 0 | $123,000 |
| 2006 | 0 | 0 | 0 | — |
| 2005 | 0 | 0 | 0 | — |
| 2004 | 1 | 1 | 0 | $49,000 |
| 2003 | 0 | 0 | 0 | — |
| 2002 | 1 | 1 | 0 | $110,000 |
| 2001 | 0 | 0 | 0 | — |
| 2000 | 0 | 0 | 0 | — |
Homes authorized by building permits, counted in the year the permit was issued. U.S. Census Bureau, Building Permits Survey.
Property tax runs below the West Virginia norm
The median bill is $621 (West Virginia: $865), 0.53% of a home’s value a year, against 0.53% statewide.
Census American Community Survey 2020–24: the median real-estate tax bill homeowners report, and that bill ÷ the median home value. Bills include town, school and county taxes. The Census reports bills over $10,000 only as “$10,000+”.
Spencer and its neighbors
One source per column.
Cost next door · one source per column
| Town | Cost | Typical home Zillow, September 2026 | Median value Census 2020–24 | Tax rate bill ÷ value | 2-bed rent HUD 2026 |
|---|---|---|---|---|---|
| Spencer | B | $117K | $117K | 0.53% | $900 |
Questions about the cost of living in Spencer
Is Spencer expensive to live in?
Measured against what households in the area earn, Spencer costs less than 60% of U.S. towns: a B for cost of living. The typical home costs 2.6 years of the median household income of Roane County, WV ($46K).
How much does a house cost in Spencer?
About $117K, Zillow’s typical value for September 2026, up 5.3% in a year. The West Virginia typical home is $177K.
What salary do you need to live in Spencer?
To buy the typical home with 20% down at 6.3%, about $29,000 a year, keeping the payment (about $670 a month with tax and insurance) at 28% of income. To rent a two-bedroom at 30% of income, about $36,000.
How much is rent in Spencer?
HUD puts a two-bedroom at about $900 a month with utilities, the going rate for someone moving in. Renters already here pay a median of $738 (Census 2020–24).
What are property taxes in Spencer?
The median bill is $621 a year, 0.53% of the median home value (West Virginia: $865, 0.53%), from the Census 2020–24.
Are home prices in Spencer going up?
Yes: up 5.3% in the past year and 6.4% in five years, against 23.3% across West Virginia (Zillow).
Neighbors talk housing
What Spencer buyers, sellers and renters are saying.
Home values: Zillow Home Value Index (ZHVI), Zillow Research, September 2026. Sales, days on market and supply: Redfin Data Center. Income, ownership, taxes and rent: U.S. Census Bureau, American Community Survey. New homes: U.S. Census Bureau, Building Permits Survey. Fair Market Rents: U.S. Department of Housing and Urban Development. The calculator is an estimate, not a loan offer. Regional price levels: BEA; electricity: EIA. How TownRatings grades cost of living.