Spencer, TN vs Waverly, TN

Spencer is moderately more affordable than Waverly, with a 11.7% lower cost of living index. Spencer scores 63 compared to 71 for Waverly, where the US average is 100. This difference means residents of Waverly can expect to pay noticeably more for everyday expenses, housing, and services.

On the housing front, median rent in Spencer is $643/month compared to $841/month in Waverly — a 24% difference. Home values follow the same pattern: Spencer is more affordable at $135,000 median vs $164,700.

Median household income in Spencer is $46,563 compared to $45,600 in Waverly (+2.1%). Spencer offers a double advantage: higher earnings combined with a lower cost of living, giving residents significantly more purchasing power. Looking at affordability, residents of Spencer spend roughly 16.6% of their income on rent, less than the 22.1% in Waverly.