Spencer, OH Profile: Facts & Data

The primary coordinate point for Spencer is located at latitude 41.1003 and longitude -82.1232 in Medina County. The formal boundaries for the Village of Spencer encompass a land area of 0.99 sq. miles and a water area of 0.01 sq. miles. Medina County is in the Eastern time zone (GMT -5).

The Village of Spencer has a C5 Census Class Code which indicates an active incorporated place that is independent of any county subdivision and serves as a county subdivision equivalent. It also has a Functional Status Code of "A" which identifies an active government providing primary general-purpose functions.

Spencer, OH Data & Demographics (As of July 1, 2024)

POPULATION
Total Population	691 (100%)
Population in Households	691 (100.0%)
Population in Families	519 (75.1%)
Population in Group Quarters¹	0
Population Density	701
Diversity Index²	15


INCOME
Median Household Income	$94,465
Average Household Income	$111,802
% of Income for Mortgage⁴	23%
Per Capita Income	$49,187
Wealth Index⁵	112
Socioeconomic Status Index⁶	Moderate (58.1)

HOUSING
Total HU (Housing Units)	321 (100%)
Owner Occupied HU	269 (83.8%)
Renter Occupied HU	35 (10.9%)
Vacant Housing Units	17 ( 5.3%)
Median Home Value	$345,690
Average Home Value	$417,416
Housing Affordability Index³	97

HOUSEHOLDS
Total Households	304
Average Household Size	2.27
Family Households	197
Average Family Size	3.00

NOTES

Group Quarters - a place where people live or stay in a group living arrangement. Includes college residents halls, nursing facilities, military barracks, and correctional facilities.
The Diversity Index is a scale of 0 to 100 that represents the likelihood that two persons, chosen at random from the same area, belong to different races or ethnic groups. If an area's entire population belongs to one race AND one ethnic group, then the area has zero diversity. An area's diversity index increases to 100 when the population is evenly divided into two or more race/ethnic groups.
The Housing Affordability Index base is 100 and represents a balance point where a resident with a median household income can normally qualify to purchase a median price home. Values above 100 indicate increased affordability, while values below 100 indicate decreased affordability.
The % of Income for Mortgage quantifies the percentage of median household income dedicated to mortgage payments on a home priced at the median value (assuming a 30-year mortgage and a 20% down payment).
The Wealth Index is based on a number of indicators of affluence including average household income and average net worth, but it also includes the value of material possessions and resources. It represents the wealth of the area relative to the national level. Values above or below 100 represent above-average wealth or below-average wealth compared to the national level.
The Socioeconomic Index ranges from zero (lowest relative status) to 100 (highest relative status). This measure quantifies disparities in social position of an area's inhabitants and is built from a broad range of demographic, housing, and socioeconomic inputs. More information on this measure can be found in Esri's SEI tutorial.

Spencer, OH - Peer Comparisons by Rank and Percentile

The table below compares Spencer to the other 1,265 incorporated cities, towns and CDPs in Ohio by rank and percentile using July 1, 2024 data. The location Ranked # 1 has the highest value. A location that ranks higher than 75% of its peers would be in the 75th percentile of the peer group.

GROWTH RATE / YEAR	2020-2025	2025-2030
Population	0.19%	-0.03%
Households	0.64%	0.13%
Families		1.76%
Median Household Income		1.91%
Per Capita Income		2.86%
Owner Occupied HU		-1.30%

Variable Description	Rank	Percentile
Total Population	# 773	39th
Population Density	# 904	29th
Median Household Income	# 243	81st
Housing Affordability Index	# 306	24th
Per Capita Income	# 204	84th
Diversity Index	# 883	30th

Spencer, OH Profile: Facts & Data

Spencer, Ohio - Basic Facts

Spencer, OH Data & Demographics (As of July 1, 2024)

POPULATION

INCOME

HOUSING

HOUSEHOLDS

GROWTH RATE / YEAR

Spencer, OH - Peer Comparisons by Rank and Percentile

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Medina County