Spencer is a city in West Virginia state in USA with a population of 2079 residents.. The poverty rate of Spencer is 30.9%, which is 121% higher than national average. The typical household in Spencer earns $24309 a year, compared to the national median of $67,500. Financial hardship is relatively common in the city as 1 in every 3 residents live below the poverty line, well above the national poverty rate of 14.1%. Additionally, more than 1 in every 5 area households live on an income of less than $10,000 a year. Nationwide, 5.8% of households do. Nearly 74.1% of households earn less than $50,000 a year compared to 39% national rate. With a lack of available jobs, many in Spencer are struggling financially. Nearly one in every 1 in every 9 workers in Spencer is unemployed. The high jobless rate has likely contributed to the widespread poverty in the city.

A high school education is a basic prerequisite for most jobs, and in Spencer, only 71% of adults have a high school diploma, compared to the 87.7% of adults nationwide. The unemployment rate of Spencer remained 11%, which is 134% higher than national rate. Nearly 2 times comparable to 4.7% national rate, according to the Census. Higher educational attainment can lead to improved job security and reduce the likelihood of financial insecurity. In Spencer, only 12% of adults have a bachelor's degree and 18% have some college but no degree.

Cost of living in Spencer is 0, which is 100% lower than national average. Median home value in Spencer is $73900 , which is 68% lower than national average. While median income in Spencer remained $24309, which is 64% lower than national average.