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New Report Fall 2026 Housing Affordability Report: every state is less affordable than in late August as average 30-year mortgage rates passed 7%. Read the report

Spencer, SD Housing Affordability Index

Spencer, South Dakota has an MBR Housing Affordability Index score of 148.6 (Highly Affordable) as of October 30, 2026, ranking 171st most affordable of 263 scored South Dakota cities, compared with 111.3 statewide and 97.4 nationally. On a median-priced $155,600 home with 20% down, the South Dakota average 30-year fixed rate of 7.26% means a monthly principal and interest payment of about $850, or 15% of the city’s $67,188 median household income.

The MBR Housing Affordability Index (MBR-HAI) for Spencer is updated every night from live South Dakota mortgage rates and U.S. Census Bureau income, home value and housing cost data for the city. A score of 100 equals the national average; higher scores mean homeownership is more affordable.

Spencer MBR-HAI 148.6 Highly Affordable
Rank in South Dakota 171 of 263 1 = most affordable
South Dakota 111.3 Statewide score
National 97.4 100 = baseline
Avg 30-yr rate 7.26% South Dakota lenders
Median home value $155,600 U.S. Census Bureau

Spencer is 37.3 points above the South Dakota score. Scores as of October 30, 2026. See the South Dakota index

View Spencer Mortgage Rates

What It Takes to Buy in Spencer

$850/mo
Principal & Interest
Median home, 20% down, 7.26%
$36,400
Income Needed
To keep the payment at 28% of income
$67,188
Median Household Income
South Dakota: $75,081
2.3x
Price-to-Income Ratio
South Dakota: 3.4x
$875/mo
Median Owner Costs
Mortgage, taxes, insurance, utilities
$1,786/yr
Median Property Tax
1.15% of median value
11.5%
Owner Cost Burden
Owners spending 30%+ of income on housing
38.1%
Renter Cost Burden
Renters spending 30%+ of income on rent

Source: U.S. Census Bureau American Community Survey 5-Year Estimates (2024) for Spencer, South Dakota. The rate is the South Dakota average 30-year fixed rate from MonitorBankRates, since lenders publish rates by state.

Cite the Spencer Score

“MonitorBankRates (MBR) Housing Affordability Index, MonitorBankRates.com, October 30, 2026. Spencer, South Dakota score: 148.6 (Highly Affordable), ranked 171 of 263 South Dakota cities. monitorbankrates.com/housing-affordability-index/south-dakota/spencer”