Total monthly cost of ownership
Cost to Own a Home in Spencer, West Virginia
A $109,000 home here costs
$965per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $560. The real number is $404 higher every month — 72% more than the payment most buyers budget for.
Where every dollar goes
Only the first line is a mortgage payment. Change any assumption above and every figure below recalculates.
Spencer against Roane County and West Virginia
| Measure | Spencer | Roane County |
|---|---|---|
| Median home value | $108,700 | $121,100 |
| Median property tax | $443 | $538 |
| Effective tax rate | 0.408% | 0.444% |
| Median gross rent | $658 | $590 |
| Population | 2,137 | 13,921 |
The weather behind that power bill
Spencer sits in Roane County, which averages a high of 83.3°F in its hottest month and a low of 21.9°F in its coldest, with 47.39" of precipitation a year and 32% of it in a single three-month stretch. That climate drives 749 cooling and 5,338 heating degree days, which is what sets the $151 electricity line above.
See the full climate breakdown for Roane County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Roane County
No other places of this size are published in Roane County.
Full Roane County cost breakdown · Every county in West Virginia
Common questions
How much does it cost to own a home in Spencer?
A $109,000 home in Spencer, West Virginia costs approximately $965 per month with 20% down at 6.66%. That is $560 principal and interest, $37 property tax, $57 homeowners insurance, $219 utilities and $91 set aside for maintenance.
What is the property tax rate in Spencer?
Spencer has an effective property tax rate of 0.408%, based on a median home value of $108,700 and median real estate taxes of $443. That is lower than the Roane County average of 0.444%.
What is the average home price in Spencer?
The median owner-occupied home value in Spencer, West Virginia is $108,700, against $121,100 across Roane County.
Is it cheaper to rent or buy in Spencer?
Median gross rent in Spencer is $658 a month, against $965 to own the median home all in. Renting costs less month to month here, though renting builds no equity.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Spencer — US Census Bureau, American Community Survey ACS 2023 5-Year, place-level tables.
- Homeowners insurance — NAIC average premium for West Virginia.
- Electricity price — EIA Electric Power Monthly Table 5.6.A.
- Mortgage rate — Freddie Mac PMMS, refreshed weekly.
- Maintenance (1%/yr) and water and sewer ($68/mo) are national estimates. Every assumption above is editable.