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Spencerville village, OH

ZIP 45887 — Housing & Real Estate

Source: U.S. Census Bureau ACS 2019–2023 5-Year Estimates. Page data updated 2026-08-02.

Middle ClassLow Snow Area

Home values, rent, tenure, and housing stock

Housing & Real Estate in ZIP Code 45887

Median Home Value
$185,400
Median Rent
$519
Affordability Snapshot
$51,000
Est. income to buy

Household income needed for a median home under a 20% down / 6.8% illustrative mortgage model (~$1,191/mo PITI).

10%
Rent-to-Income Ratio

Below the 30% threshold — generally affordable for median earners.

3.0x
Home Price-to-Income Ratio

Below 3x — relatively affordable housing market.

29.8 yrs
Price-to-Rent Ratio

Years to break even buying vs renting at median home value and rent.

To comfortably buy a median-priced home in ZIP 45887 in Spencerville village, OH, a household would need roughly $51,000 in annual income under a 20% down, 30-year loan at 6.8% (illustrative), keeping housing costs near 28% of income. Estimated monthly PITI is about $1,191. That sits below the local median household income ($62,838), suggesting the typical household income is closer to a workable buy-in level under these assumptions. Rates, taxes, insurance, and HOA fees vary — treat this as a planning estimate, not a lender quote.

Housing Tenure

Owner-occupied majority; balanced tenure mix.

Heating Fuel
Housing Metrics
Owner Occupied
76.3%+17% vs US avg
x
Vacancy Rate
7.9%-23% vs US avg
x
Broadband Access
87.1%+0% vs US avg
x
4+ Bedrooms
6.6%-55% vs US avg
x
Built Pre-1939
0.6%-95% vs US avg
x
Built Post-2014
1.2%-83% vs US avg
x
Rent Burden >30%
15.0%-70% vs US avg
x
Mortgage-Free
42.9%+12% vs US avg
x
$185,400
Home Value
$519
Rent
1970
Year Built
2012
Moved In

Residents have lived here since ~2012 on average

Housing Structure

Census ACS structure types (single-family, multi-unit, etc.).

  • 1-unit detached84.3%
  • 1-unit attached0.2%
  • 2-9 units5.8%
  • 10+ units0.0%
  • Mobile home & other9.7%

Housing & Real Estate key statistics

Housing statistics
Housing
Median home value$185,400
Median rent$519
Owner-occupied76.3%
Vacant7.9%
Price-to-income3.0x
Est. income to buy$51,000