Spencer, Virginia.
Typical home $148,436 (-0.8% in a year). Martinsville, VA metro.
to buy the typical home at today's mortgage rate — +$195 (+33%) since Feb 2022.
- 1 year
- Down $1,160 -1%
- $149,595$148,436 since Sep 2025
Monthly payment to buy the typical home
Home value × that month's 30-year mortgage rate, 20% down, principal and interest. This is the line households feel: prices and rates compound each other.
- Spencer$779
- Virginia$2,164
- United States$1,922
Typical home values in Spencer, VA fell 0.8% over the past year — slower than the nation's +1.2%.
Living in Spencer, Henry County, Virginia
The Census does not count Spencer on its own, so the figures here are Henry County's. Half the county's households earn more than $50,760 a year and half less; 16% of the county's people live below the poverty line. 75% of the county's homes are lived in by their owners and 25% are rented. Unemployment in Henry County was 4.9% in August 2026, and the county had 2.2% fewer jobs in 2025 than the year before. The most people in Henry County work in schools and health care, then manufacturing.
Written by AI Claude Haiku 5.5 wrote this on 22 October 2026 from the figures here, a list of nearby places and what it knows. It can be wrong or out of date.
What it’s like
The place. Spencer is a small town in Henry County, in the Piedmont of southern Virginia, where many residents are middle-aged or older. Across Henry County, most homes are lived in by their owners, and the typical home value is modest. Winters are cool and summers are hot, and rain falls often through the year, with snow seldom heavy.
Work. Across Henry County, unemployment has eased a little over the past year, though the number of jobs has dipped slightly more recently. Many residents work in schools, hospitals and social care, manufacturing, shops, or professional and business services. Most people commute by car, and working from home is uncommon.
Things to do. Mayo River State Park, a protected area, is a short drive away and offers a quiet place to spend a day outdoors. Lower Cascades, a waterfall, is a longer drive away. Martinsville Speedway, a race track, is also a longer drive away for those who enjoy motorsport.
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- 21,043households
- 47.7median age
- 16%of adults have a degree
- 16%below the poverty line
- 25 mintypical commute
- 8%work from home
What people in Henry County work in
Employed residents by industry, from the Census survey. Henry County had 15,384 jobs in 2025, 2.2% fewer than the year before (Bureau of Labor Statistics).
Weather through the year
Coldest in January, with highs near 48° and lows near 25°; warmest in July, with highs near 86° and lows near 64°. About 6 inches of snow and 52 inches of rain and melted snow a year.
Average daily high and low, 1991–2020, at the Stuart weather station, 12 miles away (NOAA).
Largest workplaces in Henry County
- Henry County Public SchoolsSchool district1,128FTE
- Monogram Snacks MartinsvilleSausages and other prepared meats796
- Henry County VirginiaGeneral services departments, government634
- United FeltsWet laid nonwoven fabrics manufacturing469
- Press GlassIndustrial glassware made from purchased glass407
- Eastman Performance FimsSheet, laminated plastics, manufacturing367
- Patrick & Henry Community CollegeTwo-year college331
- Live Comfortably, LLC - MartinisvillePillows, bed, made from purchased materials327
Staff on average in 2025, as each workplace reported it to OSHA with its injury records: 51 workplaces with 20 or more staff, 6,731 people in all. School districts come from the Common Core of Data (NCES, 2023–24) and colleges from IPEDS (NCES, 2023–24); FTE marks full-time equivalent staff. Not listed: many offices and banks, which need not report to OSHA; military bases, whose staff OPM withholds; and, in about half the states, city and county governments.
Natural hazards
- Inland floodingRelatively moderate
- Ice stormsRelatively moderate
- DroughtRelatively moderate
- Strong windRelatively moderate
FEMA’s National Risk Index (December 2025) rates the risk each natural hazard poses to the people, buildings and farms across Henry County, against the rest of the country; all of them together, relatively low. It is meant for planning, not a substitute for a local risk assessment or a flood map: FEMA’s index.
From the U.S. Census Bureau’s 2020 census and its American Community Survey (2020–2024 five-year estimates), and the Bureau of Labor Statistics. A survey, so each figure has a margin of error, and figures it is not sure of are left out. More on Henry County and the Martinsville, VA metro.
Spencer home values
Zillow measures a city over its municipal boundary. Against the state and national figures, mid-tier homes, smoothed and seasonally adjusted.
- Spencer$148,436
- Virginia$412,252
- United States$366,157
When this market ran hot
Each cell is that month's year-on-year home-value growth. Read left to right, top row is the latest year — the 2021–22 band is the boom.
Zip codes with a Spencer address
A different geography, not a breakdown. The figure above covers the municipality; these zips cover everywhere the Post Office calls Spencer — often including townships beyond the city limits. Both come straight from Zillow, and they are not expected to average out.