1st Advantage MortgageThe median Spencer County household earns $74,506, and 7% of residents live below the poverty line. A loan makes sense only if its total cost beats your alternatives and the payment fits your budget. Check the lender's Indiana license first.
On this page
- Who lives in Spencer County
- What it costs to live in Spencer County
- How much Spencer County households make
- Employment and commuting in Spencer County
- The communities that make up Spencer County
- Spencer County next to its neighbors
- Room for a loan payment in Spencer County
- Spencer County households compared
- Before borrowing in Spencer County
- Who licenses lenders for Spencer County residents
- Before you sign
- More guides for Spencer County
- Frequently asked questions
Who lives in Spencer County
Roughly 19,955 residents live in Spencer County, Indiana, 73rd by population among the state's 92 counties and county equivalents. Packed into 397 square miles, that is close to 50 residents for every square mile of land. No metropolitan area includes Spencer County in the 2023 federal delineation, so its numbers stand on their own rather than as part of a metro. Of the 9 Census places inside Spencer County, Santa Claus leads by population with about 2,793; 7 of the 9 are incorporated.
What it costs to live in Spencer County
Median gross rent, utilities included, comes to $751 in Spencer County versus $1,062 statewide. 38% of renting households spend 30% or more of income on rent, and 13% spend half or more. With a median value of $185,200, a typical Spencer County house costs 2.5 times what the median household earns in a year. The ownership rate is 81%.
| Measure | Spencer County | Indiana | Median U.S. county |
|---|---|---|---|
| Median gross rent | $751/mo | $1,062/mo | $877/mo |
| Median home value | $185,200 | $218,200 | $185,300 |
| Owners | 81% | 71% | 75% |
| Rent-burdened renters | 38% | 48% | 45% |
| Burdened owners | 20% | 20% | n/a |
In an owner-heavy county like Spencer County, many borrowers can also choose a home equity loan or line of credit. Those can price lower but put the house on the line, so compare the two in writing; our personal loan vs. HELOC guide walks through it.
How much Spencer County households make
The median household income in Spencer County is $74,506; statewide it is $71,957, so Spencer County runs 4% above Indiana as a whole.
| Household income | Spencer County | vs Indiana |
|---|---|---|
| Under $35,000 | 20.6% | -1.9 pts |
| $35,000 to $99,999 | 43.5% | +0.1 pts |
| $100,000 to $199,999 | 31.7% | +5.9 pts |
| $200,000 or more | 4.2% | -4.0 pts |
About 21% of households earn under $35,000, while 36% clear $100,000. 7.5% of residents fall below the federal poverty line (statewide: 12.3%). For a borrower in Spencer County, the county median is only context: a lender looks at the income you can document, so pay stubs, benefit letters or tax returns matter more than any average.
Employment and commuting in Spencer County
Education and health care employs 24% of working residents, the largest share; manufacturing is next with 21%. The sharpest difference from the state is in agriculture, forestry and mining, at 4% locally and 1% for Indiana. ACS puts five-year average unemployment at 3.3% in Spencer County. About 88% drive to work alone and 17% have trips of 45 minutes or more.
| Industry | Share of Spencer County workers | vs Indiana |
|---|---|---|
| Education and health care | 24.0% | +0.5 pts |
| Manufacturing | 20.7% | +2.7 pts |
| Retail trade | 10.0% | -0.7 pts |
| Transportation, warehousing and utilities | 8.3% | +2.1 pts |
| Construction | 7.3% | +0.7 pts |
| Other services | 5.6% | +1.0 pts |
If your hours swing with the season or with overtime, size a loan payment against your base pay, not your best month.
The communities that make up Spencer County
Here are the 9 most populous of the county's 9 Census places, with income and rent from the same 2020 to 2024 survey. About 48% of Spencer County residents live in one of the 9. Santa Claus has the highest median household income on the list ($89,659) and Rockport the lowest ($48,889), counting places with at least 500 residents. Median rent ranges from $629 in St. Meinrad to $1,219 in Santa Claus. Live in one of these Spencer County communities, or between them? This is your local guide.
| Community | Type | Residents | Household income (median) | Rent (median) | Distance |
|---|---|---|---|---|---|
| Santa Claus | town | 2,793 | $89,659 | $1,219 | 9 mi |
| Rockport | city | 1,958 | $48,889 | $678 | 9 mi |
| Dale | town | 1,542 | $61,953 | $848 | 12 mi |
| Grandview | town | 757 | $50,987 | $861 | 5 mi |
| St. Meinrad | CDP | 646 | $52,402 | $629 | 15 mi |
| Richland | town | 588 | $73,250 | $850 | 10 mi |
| Hatfield | CDP | 497 | $71,932 | n/a | 14 mi |
| Chrisney | town | 442 | $55,625 | $625 | 1 mi |
| Gentryville | town | 303 | $49,241 | $769 | 7 mi |
CDPs are unincorporated communities the Census Bureau defines for counting.
Spencer County next to its neighbors
Warrick County is closest, 15 miles from center to center; the sixth, Pike County, is 29 miles off. Income ranges from $61,151 in Perry County to $89,844 in Warrick County; 2 of these neighbors top Spencer County's median. Some neighbors are in Kentucky. Lender licensing is state by state, so a loan for a Spencer County resident follows Indiana rules.
| Adjacent area | How far | HH income (median) | Rent (median) | Owner share |
|---|---|---|---|---|
| Spencer County | - | $74,506 | $751/mo | 81% |
| Warrick County, IN | 15 mi | $89,844 | $1,061/mo | 82% |
| Hancock County, KY | 17 mi | $65,464 | $740/mo | 77% |
| Daviess County, KY | 20 mi | $68,214 | $918/mo | 68% |
| Perry County, IN | 21 mi | $61,151 | $682/mo | 75% |
| Dubois County, IN | 26 mi | $75,979 | $834/mo | 75% |
| Pike County, IN | 29 mi | $71,334 | $739/mo | 87% |
Room for a loan payment in Spencer County
The debt-to-income ratio is the main affordability test lenders use. Applied to Spencer County's medians:
- $6,209 a month: gross income for a household at the Spencer County median
- Rent at the median, $751, takes 12% of that
- 35% debt-to-income limit: $1,422 left for all other debt payments
- $2,043: what a 45% ratio leaves once rent is paid
Lenders set their own limits and look beyond the ratio. The DTI calculator uses your figures instead of Spencer County's.
Spencer County households compared
Degree holders: 22% of adults over 25. The uninsured rate is 4.7%, against 7.4% for Indiana.
| Spencer County | Indiana | U.S. county median | |
|---|---|---|---|
| Median age | 44.4 | 38.1 | 41.5 |
| Bachelor's or higher | 22.0% | 29.5% | 22.2% |
| No high school diploma | 6.9% | 9.6% | n/a |
| No health insurance | 4.7% | 7.4% | 7.8% |
| No vehicle | 2.7% | 6.2% | 5.4% |
| Work from home | 4.5% | 10.7% | 8.7% |
| Poverty rate | 7.5% | 12.3% | 13.2% |
| Unemployment (ACS) | 3.3% | 4.3% | 4.4% |
| Trip time | Share |
|---|---|
| Under 15 min | 27.5% |
| 15 to 29 min | 34.3% |
| 30 to 44 min | 21.4% |
| 45 to 59 min | 8.0% |
| 60+ min | 8.8% |
Before borrowing in Spencer County
A few patterns in the Spencer County data, and the practical point behind each:
- Requirements. Lenders weigh credit history, documented income and existing debt (what to gather).
- Fraud. Gift cards, wire transfers or fees to unlock a loan mean walk away (report it).
- Know your credit. Review all three bureau reports for free (AnnualCreditReport.com).
Who licenses lenders for Spencer County residents
Spencer County borrowers fall under statewide rules, enforced by the Indiana Department of Financial Institutions. The Consumer Financial Protection Bureau accepts complaints nationwide. More on Indiana: Indiana personal loans.
Before you sign
Before you apply, wherever you live in Spencer County:
- Know the exact dollar figure you need before talking to a lender.
- Ask each lender for the APR and all fees in writing.
- Look the lender up with the state regulator first.
- Lock paid-off cards after consolidating so balances stay at zero.
More guides for Spencer County
The Indiana guide covers the whole state.
Frequently asked questions
What is the median household income in Spencer County?
$74,506 a year in the 2020 to 2024 Census survey, versus $71,957 for Indiana. It ranks 26th of 92 in the state.
How does Spencer County rent compare with Indiana?
$751 locally versus $1,062 for the state, 29% below.
Should Spencer County homeowners use home equity instead?
Maybe, but weigh the risk: 81% of Spencer County homes are owner-occupied, and a home-equity loan or line is secured by the house while a personal loan usually is not.
What are the biggest places in Spencer County?
By population: Santa Claus, Rockport, Dale, Grandview, St. Meinrad. The county has 9 Census places in all.
Is the fit check different in Spencer County?
No. It is identical everywhere, and it never looks at your neighborhood.