Market Overview
Home Prices in Spencer, NE
The median home value in Spencer, NE is $180,757 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's down 3% compared to a year ago and up 4.3% from two years prior.
Compared to the U.S. national median of $410,000, homes in Spencer are priced56% below average.
Over the past five years, Spencer home values have fallen by approximately8.8%, reflecting softening conditions in this market.
Price History
Spencer Home Price Trend
2020
$171,299
$171K
—
2021
$198,181
$198K
+15.7%
2022
$212,146
$212K
+7.0%
2023
$197,011
$197K
-7.1%
2024
$178,632
$179K
-9.3%
2025
$186,385
$186K
+4.3%
2026
$180,757
$181K
-3.0%
City Comparison
Spencer vs. National Median
🏠 Spencer
$180,757
National Median
$410,000
At $180,757, homes in Spencer cost 56% below the national median of $410,000. This makes Spencer a relatively affordable market for buyers seeking value.
Affordability
What Does It Cost to Buy in Spencer?
20% Down Payment
$36,151
on $180,757
Monthly P&I
$943/mo
30-yr @ 6.8%
Total Monthly Est.
~$1,198/mo
incl. taxes & insurance
Income Needed
$47,920
gross annual (30% rule)
10% Down Option
$18,076
+ PMI applies
Loan Amount (20% dn)
$144,606
at current rates
Estimates assume a 30-year fixed mortgage at 6.8%. Monthly total includes estimated property taxes and homeowner's insurance. Actual costs vary.
FAQ
Frequently Asked Questions
What is the average home price in Spencer, NE?
The median home value in Spencer is $180,757 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's down 3% year-over-year.
How much have home prices changed in Spencer?
Over the past year, home values in Spencer have decreased by 3%. Over five years, prices have fallen approximately 8.8%.
How much do I need to earn to buy a home in Spencer?
To comfortably afford the median home price of $180,757 with a 20% down payment ($36,151) at today's rates (6.8%), you'd need a gross annual income of approximately $47,920. This assumes keeping total housing costs at or below 30% of gross income.
How does Spencer compare to the national average home price?
The national median home value is approximately $410,000. At $180,757, homes in Spencer are 56% below the national average.