County profile
Spencer County, IN
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
BEA · 2024
GDP growth (YoY)
+12.1%
BEA · 2024
Jobs tracked
5,132
Census CBP · 2023
Employers
423
Census CBP · 2023
Avg. wage
$47.9k
BLS QCEW · 2023
Population
20,061
Census PEP · 2025
Labor, income & education
Unemployment
3.1%
Median HH income
$74.5k±$7.3k
Bachelor's degree+
22.0%±2.4%
Poverty rate
7.5%±1.2%
Business applications
182 · 2025
Retail establishments
63
31.3/10k pop
Public companies headquartered here
SEC EDGAR · FMPCompanySectorRevenueEA
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
$1.2B2019
$928.9M2020
$1.2B2021
$1.2B2022
$1.2B2023
$1.3B2024
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
$24.3M
100 units · 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
1352016
1402017
1512018
1562019
1662020
1812021
2072022
2162023
2342024
2352025
RESIDENTIAL PERMITS · 2021–2025
↑ 61% since 2021622021
822022
662023
672024
1002025
Transport access
BTS · FAA · USACE
Nearest interstate
20.1 km
I-64
Nearest freight rail
2.6 km
NS
Nearest port
10.5 km
SUPERIOR AG
Nearest commercial airport
33.7 km
OWENSBORO/DAVIESS COUNTY RGNL
Wage trend
BLS QCEW · 2019–2023$47.9k
avg. annual pay · +15% since 2019
Similar US counties
nearest by GDPNearby & same-state counties
by GDP rankThe read
What is the GDP of Spencer?
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.