Spencer is located in northeast Nebraska. Spencer is between the Boyd, Gregory, Holt county. Spencer has 0.52 square miles of land area and has no water area. As of 2010-2014, the total Spencer population is 480, which has shrunk 11.28% since 2000. The population growth rate is much lower than the state average rate of 8.44% and is much lower than the national average rate of 11.61%. Spencer median household income is $36,477 in 2010-2014 and has grown by 27.38% since 2000. The income growth rate is lower than the state average rate of 33.50% and is about the same as the national average rate of 27.36%. Spencer median house value is $54,400 in 2010-2014 and has grown by 73.80% since 2000. The house value growth rate is much higher than the state average rate of 47.84% and is much higher than the national average rate of 46.91%. As a reference, the national Consumer Price Index (CPI) inflation rate for the same period is 26.63%. On average, the public school district that covers Spencer is close to the state average in quality. The Spencer area code is 402.