Spencer, NC Profile: Facts & Data

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Spencer, North Carolina - Basic Facts

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The Town of Spencer had a population of 3,495 as of July 1, 2021. Spencer ranks in the upper quartile for Population Density and Diversity Index when compared to the other cities, towns and Census Designated Places (CDPs) in North Carolina. See peer rankings below.

The primary coordinate point for Spencer is located at latitude 35.6924 and longitude -80.4348 in Rowan County. The formal boundaries for the Town of Spencer encompass a land area of 3.06 sq. miles and a water area of 0 sq. miles. Rowan County is in the Eastern time zone (GMT -5). The elevation is 709 feet.

The Town of Spencer has a C1 Census Class Code which indicates an active incorporated place that does not serve as a county subdivision equivalent. It also has a Functional Status Code of "A" which identifies an active government providing primary general-purpose functions.

The Town of Spencer is located within Township of Salisbury, a minor civil division (MCD) of Rowan County.


Jump to... (On This Page!)
  1. Spencer 2021 Demographic Data
  2. Growth Rates for Spencer (Historical & 5-Year Forecast)
  3. Peer Comparisons (Rank and Percentile)
  1. Neighborhoods Demographics (Home Values, Household Income, etc.)
  2. North Carolina Research Tools (Easy Tools & Current Data)
  3. North Carolina Data Comparison Tool - 2021 Demographics
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Spencer, NC Data & Demographics (As of July 1, 2021)

POPULATION

Total Population 3,495 (100%)
Population in Households 3,393 (97.1%)
Population in Families 2,737 (78.3%)
Population in Group Quarters1 102 ( 2.9%)
Population Density 1,139
Diversity Index2 66
 
 

INCOME

Median Household Income $51,838
Average Household Income $60,506
% of Income for Mortgage4 10%
Per Capita Income $23,002
Wealth Index5 55
 

HOUSING

Total HU (Housing Units) 1,512 (100%)
Owner Occupied HU 809 (53.5%)
Renter Occupied HU 494 (32.7%)
Vacant Housing Units 208 (13.8%)
Median Home Value $117,130
Average Home Value $157,160
Housing Affordability Index3 261
 

HOUSEHOLDS

Total Households 1,304
Average Household Size 2.6
Family Households 835
Average Family Size 3
NOTES
  1. 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.
  2. 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.
  3. 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.
  4. 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).
  5. 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.

GROWTH RATE / YEAR

2010-2021 2021-2026
Population 0.6% 0.57%
Households 0.49% 0.55%
Families 0.18% 0.45%
Median Household Income   0.54%
Per Capita Income   1.93%
Owner Occupied HU   1.06%

Spencer, NC - Peer Comparisons by Rank and Percentile

The table below compares Spencer to the other 739 incorporated cities, towns and CDPs in North Carolina by rank and percentile using July 1, 2021 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.

Variable Description Rank Percentile
Total Population # 233 69th
Population Density # 181 76th
Median Household Income # 302 59th
Housing Affordability Index # 661 89th
Per Capita Income # 469 37th
Diversity Index # 113 85th

Additional comparisons and rankings can be made with a VERY EASY TO USE North Carolina Census Data Comparison Tool.

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