Cost of Living in Spencer, NC
Cost indexes, living wages, and fair market rents — 2024 Data
Cost of Living Overview
Overall Index
98.7
100 = national avg
-1.3 vs national average
Living Wage (1 Adult)
$43,429
per year
Living Wage (Family of 4)
$102,651
per year
Cost Index by Category
Housing99.0
Food98.9
Transportation97.9
Healthcare99.2
Utilities99.2
100 = national average. Higher = more expensive.
Fair Market Rent
Source: HUD1 Bedroom
$958
per month
2 Bedroom
$1,196
per month
The overall cost of living index in Spencer is 98.7, which is 1.3% below the national average. Housing costs are below the national average at an index of 99.0. A single adult needs to earn approximately $43,429 per year to cover basic expenses.