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Economic Atlas
Places/IN/Spencer
County profile

Spencer

United States · GDP 2024
#1632 of 3,127 US counties by GDPtop-decile growthmore diversified than 60% of counties
EA Place Score
——
methodology in progress
GDP 2024 (USD)
$1.3B
GDP growth
+12.1%
Jobs tracked
5,132
Employers
423
Avg. wage
$47.9k
Population
20,061
Labor & formation
Unemployment
2.8%
Median HH income
$74.5k±$7.3k
Business applications
182 · 2025

Public companies headquartered here

SEC EDGAR · FMP
CompanySectorRevenueEA
1Thermwood CorporationIndustrials$22.4M——

HQ-based placement with total (global) headcount — local employment attribution needs firmographic data; the industry mix at right is measured county data (CBP).

Industry mix · employment
Manufacturing40%
Retail trade19%
Arts & recreation16%
Transportation9%
Construction8%
Wholesale trade8%
share of top-6 sector employment · CBP 2023
Population & migration
Census PEP · 2020–2025
20,061
residents · 2025 · +1.2% since 2020
Income per capita $58.6k · BEA 2024
COMPONENTS OF CHANGE · 2021–2025
Domestic migration+444
International migration+42
Natural change−260

GDP trend

2019–2024 · nominal
$1.2B
2019
$928.9M
2020
$1.2B
2021
$1.2B
2022
$1.2B
2023
$1.3B
2024

Real estate & risk

FHFA · ACS · FEMA
Median home value
$185.2k±$10.4k
Median gross rent
$751/mo±$136/mo
Vacancy rate
7.4%±1.6%
Affordability
3.9× wages
Residential permits
100 (5.0/1k pop)
FEMA risk score
39.4
HUD Fair Market Rent (2BR):$956/mo · 2026
TOP PERILS · FEMA NRI
Earthquake 83Ice storm 72Strong wind 69
FHFA HOUSE PRICE INDEX · 2016–2025
135
2016
140
2017
151
2018
156
2019
166
2020
181
2021
207
2022
216
2023
234
2024
235
2025
Wage trend
BLS QCEW · 2019–2023
$47.9k
avg. annual pay · +15% since 2019
Similar US counties
nearest by GDP
Eureka$1.3BFannin$1.3BPerry$1.3BWashington$1.3BSaline$1.3BBoone$1.3B
The read

Spencer's economy produced $1.3B in 2024, growing 12.1% year over year — faster than 94% of US counties. Its largest employment sector is manufacturing.

GDP: BEA (2024), USD-normalized · Jobs/employers/wages & industry mix: Census CBP (2023) · Population & migration: Census PEP · Income: BEA CAINC1 · Companies: SEC EDGAR + FMP, by HQ.
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