1st Advantage MortgageSpencer County households have a median income of $102,618 and median rent of $987 a month (ACS 2020 to 2024). Those figures describe the county, not you: compare at least three written offers by APR and total cost, and confirm the lender's license before you apply.
On this page
- Who lives in Spencer County
- Income in Spencer County compared with Kentucky
- Rent, home values and ownership in Spencer County
- Work, industries and travel time in Spencer County
- Cities, towns and CDPs in Spencer County
- Spencer County and the counties next door
- People and households in Spencer County
- Reading the Spencer County data as a borrower
- What a median Spencer County budget can carry
- Licensing and complaints for Spencer County
- A Spencer County borrower's checklist
- Related local guides
- Frequently asked questions
Who lives in Spencer County
Roughly 20,193 residents live in Spencer County, Kentucky, 57th by population among the state's 120 counties and county equivalents. Land area is 187 square miles (2024 Gazetteer), so density runs near 108 per square mile. It is one of the counties that make up the Louisville/Jefferson County, KY-IN metropolitan statistical area (OMB, 2023). Of the 2 Census places inside Spencer County, Elk Creek leads by population with about 2,207; 1 of the 2 are incorporated.
Income in Spencer County compared with Kentucky
Half of Spencer County households take in less than $102,618 a year and half take in more, 61% above the Kentucky median of $63,726. Only 1 Kentucky county post a higher median.
| Household income | Spencer County | vs Kentucky |
|---|---|---|
| Under $35,000 | 15.1% | -12.8 pts |
| $35,000 to $99,999 | 34.4% | -7.5 pts |
| $100,000 to $199,999 | 38.3% | +15.4 pts |
| $200,000 or more | 12.2% | +4.9 pts |
Some 15% of households here live on less than $35,000 a year; 50% have six-figure incomes. 9.8% of residents fall below the federal poverty line (statewide: 16.1%). 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.
Rent, home values and ownership in Spencer County
A typical Spencer County rental runs $987 a month including utilities, which is 2% above Kentucky. Rent takes 30% or more of income for 45% of renter households here. The median owner-occupied home is valued at $330,000, about 3.2 times the median household income. Owners occupy 88% of homes. The median year built is 2000.
| Home costs | Spencer County | Kentucky | U.S. middle county |
|---|---|---|---|
| Median gross rent | $987/mo | $967/mo | $877/mo |
| Median home value | $330,000 | $205,600 | $185,300 |
| Owners | 88% | 68% | 75% |
| Rent-burdened renters | 45% | 45% | 45% |
| Burdened owners | 20% | 23% | n/a |
| Mobile homes | 5.1% | 10.7% | n/a |
| Vacant units | 5% | 10% | n/a |
Because most Spencer County households own, home repairs are a frequent reason to borrow. An unsecured personal loan leaves the house out of the deal, while a HELOC uses it as collateral.
Work, industries and travel time in Spencer County
The biggest employer of Spencer County residents, by industry, is education and health care at 23% of workers, followed by manufacturing (18%). Compared with Kentucky, the county leans toward manufacturing (18% against 14%). ACS puts five-year average unemployment at 5.0% in Spencer County. 27% of commuters travel 45 minutes or more each way, and 13% work from home. Only 3.0% of homes here go without a vehicle.
| Industry (employed residents 16+) | Spencer County | Gap to Kentucky |
|---|---|---|
| Education and health care | 22.7% | -1.6 pts |
| Manufacturing | 18.3% | +4.0 pts |
| Transportation, warehousing and utilities | 9.1% | +2.1 pts |
| Professional and administrative services | 9.1% | +0.1 pts |
| Retail trade | 9.0% | -2.5 pts |
| Construction | 8.9% | +2.6 pts |
Industry shapes paperwork. Salaried and public jobs are easy to verify, while hourly, tipped, commission or contract earners in Spencer County should have bank statements and tax returns ready.
Cities, towns and CDPs in Spencer County
2 Census places fall mainly inside Spencer County; the 2 biggest are below. They account for 3,703 residents, leaving about 82% of the county in unincorporated, unnamed areas. This guide covers each of the 2 places and the rural areas around them.
| Town or CDP | Type | People | Median household income | Median gross rent | Miles from center |
|---|---|---|---|---|---|
| Elk Creek | CDP | 2,207 | $144,100 | n/a | 7 mi |
| Taylorsville | city | 1,496 | $43,259 | $939 | 2 mi |
Spencer County and the counties next door
Shelby County is closest, 16 miles from center to center; the sixth, Jefferson County, is 22 miles off. Income ranges from $61,616 in Washington County to $82,604 in Shelby County; none of these neighbors top Spencer County's median.
| County | Miles | Median household income | Median rent | Homeownership |
|---|---|---|---|---|
| Spencer County | - | $102,618 | $987/mo | 88% |
| Shelby County, KY | 16 mi | $82,604 | $1,033/mo | 74% |
| Nelson County, KY | 17 mi | $69,562 | $1,008/mo | 78% |
| Anderson County, KY | 18 mi | $74,488 | $927/mo | 78% |
| Washington County, KY | 20 mi | $61,616 | $744/mo | 78% |
| Bullitt County, KY | 21 mi | $80,558 | $987/mo | 85% |
| Jefferson County, KY | 22 mi | $69,866 | $1,149/mo | 62% |
People and households in Spencer County
College graduates make up 24% of the adult population. 3.9% of residents have no health coverage.
| Measure | Spencer County | Kentucky statewide | Typical U.S. county |
|---|---|---|---|
| Median age | 42.9 | 39.1 | 41.5 |
| Bachelor's or higher | 23.6% | 27.6% | 22.2% |
| No high school diploma | 7.0% | 11.1% | n/a |
| No health insurance | 3.9% | 6.0% | 7.8% |
| No vehicle | 3.0% | 6.8% | 5.4% |
| Work from home | 13.3% | 10.2% | 8.7% |
| Poverty rate | 9.8% | 16.1% | 13.2% |
| Unemployment (ACS) | 5.0% | 4.9% | 4.4% |
| Minutes to work | Spencer County workers |
|---|---|
| Under 15 min | 13.8% |
| 15 to 29 min | 21.6% |
| 30 to 44 min | 37.4% |
| 45 to 59 min | 20.2% |
| 60+ min | 7.0% |
Reading the Spencer County data as a borrower
A few patterns in the Spencer County data, and the practical point behind each:
- Keeping the car running. At 27% with long commutes, repairs are a frequent Spencer County emergency; first decide if the car is worth fixing.
- Six-figure budgets. For the 50% earning $100,000 or more, lifestyle creep, not approval, is the usual problem.
- Tight rental budgets. With 45% of Spencer County renters cost-burdened, test a new payment against a lean month.
What a median Spencer County budget can carry
How much room does a median Spencer County budget have? Take median income, subtract median rent, and check what is left under a few common debt-to-income limits.
- $102,618 a year is $8,552 of gross monthly income
- Rent at the median, $987, takes 12% of that
- Under a 43% cap, $3,677 total minus rent leaves $2,690
Two-income households and single earners in Spencer County land in very different places on this math, so run it for your own budget.
Licensing and complaints for Spencer County
Before sharing details with a lender, a Spencer County resident can confirm its license with the Kentucky Department of Financial Institutions. The Consumer Financial Protection Bureau accepts complaints nationwide. Statewide data and rules: Kentucky guide.
A Spencer County borrower's checklist
Steps that save money for Spencer County residents:
- Write down what the expense costs; a smaller loan costs less.
- Ask each lender for the APR and all fees in writing.
- Confirm the lender is licensed in Kentucky.
- Read the final agreement; it must match the offer.
Related local guides
For statewide rules and data, see the Kentucky guide.
Frequently asked questions
What does a typical Spencer County household make?
About $102,618 a year at the median (ACS 2020-24), 61% above the Kentucky median.
How does Spencer County rent compare with Kentucky?
$987 locally versus $967 for the state, 2% above.
Does this page cover Elk Creek?
Yes, along with the other 1 Census place in Spencer County, such as Taylorsville.
Does living in Spencer County change what I qualify for?
Not in our fit check, which uses only the amount, credit range, income and payments you enter, the same for a Spencer County resident as anyone. Lenders decide under fair-lending law.
Where can someone in Spencer County check a lender's license?
With the Kentucky Department of Financial Institutions. If a lender is unlicensed or asks for a fee before funding, walk away.