Spencer County, Kentucky: commercial real estate data.
Spencer County, Kentucky has a population of 20,193 across 187 square miles, up 7.2 percent since the 2020 census base. County output reached $444.7 m in 2024, 255 establishments operate here, and the SBA record carries 13 7(a) approvals worth $7.0 m.
118 sourced county values · tier FULL · 11 sections
Spencer County
How many people live in Spencer County
- Population20,193
- Households7,308
- Average household size2.76
- Median household income$102,618
- Median age42.9
- Median gross rent$987 per month
- Median owner-occupied home value$330,000
- Home value to household income3.2 times
- Annual rent as a share of median income11.5 percent
- Adults 25 and over with a bachelor degree or higher23.6 percent
- Adults 25 and over with a graduate degree8.6 percent
- Adults 25 and over14,164
- Population under 184,550
- Share under 1822.5 percent
- Population 65 and over3,128
- Share 65 and over15.5 percent
- Working age population, 18 to 6412,515
- Civilian labor force10,315
- Unemployment rate5.0 percent
- Labor force participation, adults 18 and over65.9 percent
- Rank by population among Kentucky counties57th of 120
- Rank by population among US county-equivalents1867th
Spencer County is the 57th largest of 120 Kentucky counties by population. A median home costs 3.2 times median household income, which is an affordable ownership market by national standards. Residents under 18 outnumber those 65 and over, at 22.5 percent against 15.5 percent, a household formation profile rather than a retirement one.
US Census Bureau, American Community Survey 5-Year Estimates, 2020-2024 5-year.
Spencer County
Is Spencer County growing
- Population change since the 2020 census base7.20 percent
- Census 2020 base population19,424
- Births, 2024211
- Deaths, 2024165
- Natural change, 202446
- Net domestic migration, 2024193
- Net international migration, 202429
- Total net migration, 2024222
- Cumulative net domestic migration, 2021 to 20241,187
- Rank by growth among US county-equivalents300th
The county has grown 7.20 percent since the 2020 census base. Migration contributed more to 2024 change than births over deaths, so demand here follows people arriving rather than families forming.
US Census Bureau, Population Estimates Program, Vintage 2024, Vintage 2024, estimates 2020 to 2024.
Spencer County
Where people moving to Spencer County come from
- Tax returns filed by households arriving649
- People arriving, from those returns1,342
- Adjusted gross income arriving$48.5 m
- Net adjusted gross income movement$0
- Average income of an arriving household$74,760
- Largest single originSpencer County Non-migrants (7,151 households)
- Largest single destination (7,151 households)
| Origin | Households | People | Adjusted gross income |
|---|---|---|---|
| Spencer County Non-migrants | 7,151 | 15,971 | $603.8 m |
| Jefferson County | 322 | 697 | $27.3 m |
| Bullitt County | 87 | 194 | $6.3 m |
| Other flows - Different State | 82 | 150 | $5.5 m |
| Other flows - Same State | 66 | 123 | $4.2 m |
| Shelby County | 56 | 112 | $2.9 m |
| Other flows - Midwest | 43 | 71 | $2.7 m |
| Other flows - South | 39 | 79 | $2.8 m |
The largest single source of arrivals is Spencer County Non-migrants, which is the catchment a retail or multifamily study should look at first.
US Internal Revenue Service, Statistics of Income county migration flows, 2021 to 2022 filing years.
Spencer County
What the Spencer County economy runs on
- County GDP, 2024$444.7 m
- County GDP, 2023$417.7 m
- GDP change, 2023 to 20246.5 percent
- GDP change over five years34.1 percent
- Rank by GDP among Kentucky counties82nd
- Rank by GDP among US county-equivalents2472nd
- GDP per resident$22,022
Output grew 6.5 percent in the latest year and 34.1 percent over five, which is the trend line a lender will read behind any single year figure.
US Bureau of Economic Analysis, Regional, table CAGDP2, CAGDP2, through 2024.
Spencer County
Who employs people in Spencer County
- Covered employment, annual average2,235
- Establishments reporting440
- Average annual pay$46,034
- Average weekly wage$885
- Sector 44-45, employment261
- Sector 44-45, average annual pay$30,933
- Sector 23, employment235
- Sector 23, average annual pay$55,493
- Sector 72, employment208
- Sector 72, average annual pay$20,728
- Sector 56, employment134
- Sector 56, average annual pay$36,160
- Sector 52, employment71
- Sector 81, employment51
| Sector | Employment | Establishments | Average annual pay |
|---|---|---|---|
| Sector 44-45 | 261 | 37 | $30,933 |
| Sector 23 | 235 | 77 | $55,493 |
| Sector 72 | 208 | 20 | $20,728 |
| Sector 56 | 134 | 33 | $36,160 |
| Sector 52 | 71 | 22 | $56,030 |
| Sector 81 | 51 | 29 | $46,015 |
| Sector 42 | 46 | 26 | $102,278 |
| Sector 53 | 46 | 9 | $52,400 |
The largest sector is the biggest private employer group at 261 jobs, 11.7 percent of covered employment. Average pay per job sits below median household income, so households here typically need more than one earner.
US Bureau of Labor Statistics, Quarterly Census of Employment and Wages, 2024 annual averages.
Spencer County
What businesses operate in Spencer County
- Establishments, all industries255
- Employment at those establishments1,345
- Annual payroll$49.4 m
- Establishments per 1,000 residents12.6
These are counts of establishments physically operating in the county, not listings, so they are the supply side a feasibility study measures demand against.
US Census Bureau, County Business Patterns, 2023.
Spencer County
What is being built in Spencer County
- Housing units authorised by permit, 2024126
- Declared construction value permitted$40.2 m
- Single family units authorised126
- Multifamily units authorised0
- Multifamily share of units0.0 percent
- Average declared value per unit$318,749
- Units authorised per 1,000 households17.2
Multifamily is 0.0 percent of units authorised, so the pipeline is predominantly for sale product.
US Census Bureau, Building Permits Survey, 2024 annual.
Spencer County
How much SBA lending happens in Spencer County
- 7(a) approvals recorded13
- 7(a) gross approval dollars$7.0 m
- Average 7(a) approval$540,431
- Median 7(a) approval$128,300
- 10th percentile approval$36,500
- 90th percentile approval$1,100,000
- Largest single approval$3,547,900
- Jobs reported supported, 7(a)119
- Jobs per approval9.2
- Distinct 7(a) lenders active11
- Distinct industries receiving approvals12
- Median 7(a) term120 months
- Share of loans on real estate terms, 240 months or longer7.7 percent
- Loans on real estate terms1
- Loans on working capital terms, 120 months or shorter12
- Franchise loans2
- Franchise share of approvals15.4 percent
- Leading industry by approval countPharmacies and Drug Stores (2)
- Most active lenderFirst Financial Bank (2)
- 504 approvals recorded3
- 504 gross approval dollars$708,000
- Average 504 approval$236,000
- Median 504 approval$162,000
- Distinct CDCs active2
- 504 jobs per approval3.7
- 504 jobs per million dollars approved15.5
- Most active CDCCapital Access Corporation - Kentucky (2)
- 7(a) share of SBA approvals81.3 percent
- Combined SBA approval dollars$7.7 m
The average approval of $540,431 sits well above the median of $128,300, so a small number of large deals is pulling the mean up. The median is the better guide to what a typical borrower here actually gets. Only 7.7 percent of approvals run on real estate terms, so SBA credit here is mostly working capital and equipment rather than property acquisition.
US Small Business Administration, 7(a) FOIA release, FY2020 to FY2026 year to date, as of 2026-06-30. US Small Business Administration, 504 FOIA release, FY2010 to FY2026 year to date, as of 2026-06-30.
Spencer County
Do SBA loans in Spencer County get paid back
- Loans with a final outcome recorded2
- Paid in full2
- Charged off0
- Status: Paid in full2
- Status: Cancelled3
- Status: Exempt from disclosure8
Too few loans have reached a final outcome to publish a charge off rate. only 2 resolved loans, too few to publish a rate. A rate computed on a handful of loans is noise, so none is shown.
US Small Business Administration, 7(a) FOIA release, FY2020 to FY2026 year to date, as of 2026-06-30.
Spencer County
Which parts of Spencer County get the lending
- Places in the county with recorded lending4
- TAYLORSVILLE, approvals9
- FISHERVILLE, approvals2
- BLOOMFIELD, approvals1
- COXS CREEK, approvals1
| Place | Approvals | Gross approval dollars |
|---|---|---|
| TAYLORSVILLE | 9 | $6,775,800 |
| FISHERVILLE | 2 | $163,300 |
| BLOOMFIELD | 1 | $36,500 |
| COXS CREEK | 1 | $50,000 |
TAYLORSVILLE accounts for 9 approvals against 2 in FISHERVILLE. County level figures average over that gap, which is why a site decision is made at the submarket rather than the county.
US Small Business Administration, 7(a) FOIA release, FY2020 to FY2026 year to date, as of 2026-06-30.
Spencer County
How big is Spencer County
- Land area187 sq mi
- Rank by land area among Kentucky counties110th of 120
- Width, east to west21.1 mi
- Height, north to south14.3 mi
- Geographies sharing a boundary5
- Residents per square mile of land108
- Establishments per square mile1.36
US Census Bureau county boundary geometry, TIGER, adjacency computed from shared boundary vertices, TIGER county boundaries. US Census Bureau, American Community Survey 5-Year Estimates, 2020-2024 5-year. US Census Bureau, County Business Patterns, 2023.
Coverage
What this page does not hold.
Every item below could be filled with a plausible figure. None of them is. On a page a lender may read, a number that cannot be traced is worse than an absence, so the absences are named.
- No NFIP communities are listed for this county in the FEMA Community Status Book.
- Flood zone record counts are not held. The flood coverage export has not landed, so no count is shown rather than an estimated one.
- Traffic counts resolve in the platform, not in this dataset, so no AADT figure is printed here.
- Zoning is in build. Parcel level zoning is not published on this page.
Feasibility studies
When a Spencer County site needs a document a lender will accept.
The same data layer behind this page is the one the studies are written from. A study for a Spencer County site starts with the figures you are reading, carrying the same source and period into the credit file.
- Population20,193
- Households7,308
- Average household size2.76
- Median household income$102,618
- Median age42.9
Common questions
Spencer County questions, answered from the record.
How many people live in Spencer County, Kentucky?
20,193, in 7,308 households, ranking 57th of 120 Kentucky counties. Source: US Census Bureau, American Community Survey 5-Year Estimates, 2020-2024 5-year.
Is Spencer County growing?
The population has grown 7.20 percent since the 2020 census base. In 2024 there were 211 births against 165 deaths, with net migration of 222. Source: US Census Bureau, Population Estimates Program, Vintage 2024, Vintage 2024, estimates 2020 to 2024.
What is the median household income in Spencer County?
$102,618. The median owner-occupied home is valued at $330,000, which is 3.2 times income, and median gross rent is $987 per month. Source: US Census Bureau, American Community Survey 5-Year Estimates, 2020-2024 5-year.
How many businesses are there in Spencer County?
255 establishments, employing 1,345 people with an annual payroll of $49.4 m. These are establishments physically operating in the county, not listings. Source: US Census Bureau, County Business Patterns, 2023.
What is the average wage in Spencer County?
Average annual pay is $46,034, or $885 a week, across 2,235 covered jobs. Source: US Bureau of Labor Statistics, Quarterly Census of Employment and Wages, 2024 annual averages.
How much SBA lending happens in Spencer County?
13 7(a) approvals totalling $7.0 m since FY2020, across 11 lenders, with a median approval of $128,300, plus 3 504 approvals worth $708,000. These are approvals recorded in the release, not loans disbursed.
What is being built in Spencer County?
126 housing units were authorised by permit in 2024, with a declared construction value of $40.2 m. Multifamily was 0.0 percent of units. Source: US Census Bureau, Building Permits Survey, 2024 annual.
What is the radon zone for Spencer County?
Zone 2, a predicted average indoor radon screening level from 2 to 4 pCi/L. Source: US EPA, Map of Radon Zones, county spreadsheet, 2024-05 publication, EPA 402/A-16/001.
Where do people moving to Spencer County come from?
The largest single origin is Spencer County Non-migrants, with 7,151 households. Arriving households report an average income of $74,760 against null for those leaving. Source: US Internal Revenue Service, Statistics of Income county migration flows, 2021 to 2022 filing years.
Are traffic counts available for Spencer County on this page?
No. Annual average daily traffic resolves in the platform rather than in this dataset, so no AADT figure is printed here. It is a gap we know about rather than a figure we estimated.
Is zoning published for Spencer County?
Not yet. The zoning layer is in build. Nothing on this page presents parcel level zoning, and where a statutory framework applies it is marked as the statewide frame with confirm locally attached.