Similar to other places in this area, it's similar compared to the rest of the country. However it's substantially less expensive compared to the city of Boston.
Home prices
The median home in Spencer costs $222,500. In comparison to the surrounding areas it is about $3,340 (1%) lower.In comparison to the rest of the country it is about $5,000 (2%) higher, and in comparison to the city of Boston is about $310,200 (58%) lower.
Rents
In Spencer the median rent is $873 per month. In comparison to other places in this area this is about $191 (17%) lower.In comparison to the country as a whole it is approximately $189 (17%) lower, and compared to the city of Boston it is approximately $747 (46%) lower.
Nearby places
East Brookfield
East Brookfield is roughly 2 miles west from Spencer. Real estate prices there are similar. The price of the median home in East Brookfield is $217,400, which is $5,100 (2%) lower than Spencer. Its rents are somewhat more expensive. The median rent in East Brookfield is $1,045 a month, which is $172 (16%) higher than Spencer.
North Brookfield
North Brookfield is roughly 4 miles northwest from Spencer. Its housing prices are fairly similar. North Brookfield's median home cost is $228,300, which is $5,800 (2%) higher than Spencer. Rent there is pretty similar. In North Brookfield the median rent is $867 per month, which is very similar to Spencer.
Brookfield
Brookfield is about 5 miles west from Spencer. Its housing prices are a bit less expensive. The value of the median home in Brookfield is $211,000, which is $11,500 (5%) lower than Spencer. Its rents are a little more expensive. Brookfield's median rent is $1,117 per month, which works out to $244 (21%) higher than Spencer.
West Brookfield
West Brookfield is roughly 6 miles west from Spencer. Real estate prices there are somewhat more expensive. The median home price in West Brookfield is $246,600, which comes out to $24,100 (9%) higher than Spencer. Rent there is a bit more expensive. In West Brookfield the median monthly rent is $1,133, which comes out to $260 (22%) higher than Spencer.
Rutland
Rutland is approximately 7 miles north from Spencer. Real estate prices there are pretty similar. The median home cost in Rutland is $225,900, which comes out to $3,400 (1%) higher than Spencer. Rent there is a little more expensive. In Rutland the median monthly rent is $1,160, which is $287 (24%) higher than Spencer.
