Spencer County, Indiana home prices
Typical home $232,771 · +3.9% in a year · property tax 0.62%
The typical home in Spencer County is worth $232,771, 9% less than the Indiana typical home ($257,165). Values changed +3.9% in the past year and +28.6% over five years. Homeowners here pay a median 0.62% of their home's value in property tax each year ($1,442 on the typical home), versus 0.74% statewide.
Mortgage on the typical Spencer County home
| Down payment | Cash down | Loan | Principal + interest | PMI / MIP | Tax + insurance | Total / month | Income needed |
|---|---|---|---|---|---|---|---|
| 20% down | $46,554 | $186,217 | $1,253 | $0 | $237 | $1,489 | $63,800 |
| 10% down | $23,277 | $209,494 | $1,409 | $87 | $237 | $1,733 | $74,300 |
| 5% down | $11,639 | $221,133 | $1,488 | $92 | $237 | $1,816 | $77,800 |
| 3.5% down (FHA) | $8,147 | $228,555 | $1,538 | $103 | $237 | $1,877 | $80,400 |
Assumes a 30-year fixed loan at 7.11%, property tax of 0.62% of the home value a year, homeowners insurance of 0.6% a year, PMI of 0.5% of the loan a year when the down payment is under 20%, and FHA mortgage insurance of 0.55% a year plus a 1.75% upfront premium added to the loan. Your rate, taxes and insurance will differ.
What it takes: see what you can afford by salary in Indiana.
Indiana counties with similar prices
| County | Typical home | 1-yr change | Tax rate |
|---|---|---|---|
| Daviess County | $233,087 | +8.2% | 0.69% |
| Posey County | $234,428 | +0.6% | 0.62% |
| Owen County | $234,540 | +4.6% | 0.66% |
| Saint Joseph County | $230,569 | +6.5% | 0.86% |
| Warren County | $229,621 | +3.5% | 0.5% |
| Marion County | $227,822 | -0.8% | 0.91% |
| White County | $227,574 | +4.5% | 0.54% |
| Jefferson County | $237,972 | +4.6% | 0.64% |
| Montgomery County | $226,785 | +4.4% | 0.65% |
| Jackson County | $225,472 | +1.6% | 0.49% |
Frequently asked questions
What is the average home price in Spencer County, IN?
The typical home value in Spencer County is $232,771 (Zillow Home Value Index, September 2026).
How much do you need to earn to buy a house in Spencer County?
About $63,800 a year for the typical home with 20% down at a 7.11% 30-year rate.
What is the property tax rate in Spencer County?
The median effective rate is 0.62% of home value a year (Census ACS 2024 5-year estimates).