Total monthly cost of ownership
Cost to Own a Home in Spencerville, Ohio
A $142,000 home here costs
$1,223per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $730. The real number is $493 higher every month — 68% 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.
Spencerville against Allen County and Ohio
| Measure | Spencerville | Allen County |
|---|---|---|
| Median home value | $141,700 | $158,400 |
| Median property tax | $936 | $1,782 |
| Effective tax rate | 0.661% | 1.125% |
| Median gross rent | $848 | $898 |
| Population | 2,120 | 101,685 |
The weather behind that power bill
Spencerville sits in Allen County, which averages a high of 83.6°F in its hottest month and a low of 20.1°F in its coldest, with 35.77" of precipitation a year and 32% of it in a single three-month stretch. That climate drives 847 cooling and 5,769 heating degree days, which is what sets the $175 electricity line above.
See the full climate breakdown for Allen County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Allen County
Common questions
How much does it cost to own a home in Spencerville?
A $142,000 home in Spencerville, Ohio costs approximately $1,223 per month with 20% down at 6.66%. That is $730 principal and interest, $78 property tax, $53 homeowners insurance, $243 utilities and $118 set aside for maintenance.
What is the property tax rate in Spencerville?
Spencerville has an effective property tax rate of 0.661%, based on a median home value of $141,700 and median real estate taxes of $936. That is lower than the Allen County average of 1.125%.
What is the average home price in Spencerville?
The median owner-occupied home value in Spencerville, Ohio is $141,700, against $158,400 across Allen County.
Is it cheaper to rent or buy in Spencerville?
Median gross rent in Spencerville is $848 a month, against $1,223 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 Spencerville — US Census Bureau, American Community Survey ACS 2023 5-Year, place-level tables.
- Homeowners insurance — NAIC average premium for Ohio.
- 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.