Spencer County, Kentucky Housing Market
In Spencer County, Kentucky, the median home value is $330,000, with a median monthly rent of $987. This places Spencer County at #490 nationally out of 3134 counties by median home value, and #2 within Kentucky.
📈 Price Trend (2017 → 2024)
📊 Recent Market Momentum (FHFA HPI)
FHFA House Price Index — All-Transactions, Annual (2000 = 100) · Latest: 2025
📍 Economic Snapshot
Employment & Wages
- Avg weekly wage: $912
- Establishments: 446
- BLS QCEW, 2025
Housing Supply
- Single-family: 85
- Multi-family: 0
- U.S. Census Bureau, Building Permits Survey
Migration Patterns
- Inflow: 7,882 (avg $83,456)
- Outflow: 7,488 (avg $83,401)
- IRS Statistics of Income
🔗 Explore Spencer County on Our Sister Sites
Get the complete picture for Spencer County — financing options and ongoing ownership costs.
💰 Mortgage Guide → 🧾 Property Tax Data →How Spencer County Compares
| Metric | Spencer County | Kentucky Average | U.S. Average |
|---|---|---|---|
| Median Home Value | $330,000 | $160,835 | $227,706 |
| Median Gross Rent | $987 | $793 | $968 |
| Owner Occupancy Rate | 87.9% | 73.4% | 73.3% |
| Price/Rent Ratio | 27.9 | 16.6 | 18.7 |
Market Analysis
The median home value in Spencer County is 105.2% above the Kentucky state average and 44.9% above the U.S. national average. The median rent of $987/month is 24.5% above the state average.
With a price-to-rent ratio of 27.9, Spencer County is a strongly rent-favored market. Home prices are high relative to rents, meaning renting is typically far cheaper than owning in the near term.
Spencer County has an owner-occupancy rate of 87.9%, compared to 73.4% in Kentucky and 73.3% nationally. This indicates a more homeowner-heavy market than the U.S. average.
Similar Counties by Home Value
| County | State | Median Home Value | Median Rent |
|---|---|---|---|
| Tulare County | California | $330,100 | $1,280 |
| Sweet Grass County | Montana | $330,100 | $1,149 |
| Churchill County | Nevada | $329,900 | $1,319 |
| Lancaster County | South Carolina | $329,900 | $959 |
| Santa Rosa County | Florida | $329,800 | $1,544 |
Other Counties in Kentucky
| County | Median Home Value | Median Rent | Owner Occ. |
|---|---|---|---|
| Shelby County | $304,800 | $1,033 | 73.9% |
| Woodford County | $299,700 | $1,138 | 71.7% |
| Fayette County | $293,500 | $1,164 | 53.8% |
| Scott County | $288,500 | $1,247 | 71.7% |
| Boone County | $277,300 | $1,373 | 76.3% |
Data Source: U.S. Census Bureau, American Community Survey (ACS) 2024 5-Year Estimates (2017–2024). Variables: B25077 (Median Home Value), B25064 (Median Gross Rent), B25003 (Tenure). Data collected on 2026-10-14. The price-to-rent ratio is calculated as Median Home Value ÷ (Median Monthly Rent × 12).