Cost of Living in Spencer, TN
Cost indexes, living wages, and fair market rents — 2024 Data
Cost of Living Overview
Overall Index
74.5
100 = national avg
-25.5 vs national average
Living Wage (1 Adult)
$32,783
per year
Living Wage (Family of 4)
$77,487
per year
Cost Index by Category
Housing65.8
Food85.6
Transportation71.2
Healthcare88.5
Utilities84.5
100 = national average. Higher = more expensive.
Fair Market Rent
Source: HUD1 Bedroom
$705
per month
2 Bedroom
$925
per month
The overall cost of living index in Spencer is 74.5, which is 25.5% below the national average. Housing costs are below the national average at an index of 65.8. A single adult needs to earn approximately $32,783 per year to cover basic expenses.