Selma, IN vs Spencer, IN

Selma is moderately more affordable than Spencer, with a 5.5% lower cost of living index. Selma scores 67 compared to 71 for Spencer, where the US average is 100. This difference means residents of Spencer can expect to pay noticeably more for everyday expenses, housing, and services.

On the housing front, median rent in Selma is $913/month compared to $860/month in Spencer — a 6% difference. Interestingly, home values tell a different story: while Spencer has cheaper rent, Selma actually has lower median home values ($99,800 vs $146,300).

Median household income in Selma is $62,500 compared to $47,994 in Spencer (+30.2%). Selma offers a double advantage: higher earnings combined with a lower cost of living, giving residents significantly more purchasing power. Looking at affordability, residents of Selma spend roughly 17.5% of their income on rent, less than the 21.5% in Spencer.