Cost of Living in Spencer
The biggest cost-of-living factor in Spencer, Massachusetts is housing. The median home is priced around $537K, or about $295 per square foot.
With 20% down on a median-priced home, the estimated monthly mortgage payment (principal and interest) is about $2,789, plus roughly $526 per month in property taxes. Rates and down payment change this figure significantly.
Spencer's FY2025 residential property tax rate is $11.74 per $1,000 of assessed value. Combined with home prices, that gives a clear picture of the monthly cost of owning in Spencer.