Commercial Real Estate Market in Spencer, SD
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
Market Trends
Spencer, SD spans 77.8 square miles in McCook County, South Dakota. Figures below refresh monthly; last updated 31 August 2026.
Office
Office vacancy in Spencer, SD runs 21.3% across the Midwest region in 2025, up from 13.7% in 2019.
Vacancy Rate % in Midwest region
Retail
Retail vacancy in Spencer, SD runs 6.3% across the Midwest region in 2025, down from 8% in 2020.
Vacancy Rate % in Midwest region
Industrial
Industrial vacancy in Spencer, SD runs 4.9% across the Midwest region in 2025, up from 4.4% in 2019. Nearly 1.6x the 2022 low of 3.1%.
Vacancy Rate % in Midwest region
Multifamily
Multifamily vacancy in Spencer, SD runs 8% across the Midwest region in 2025, up from 6.5% in 2022.
Vacancy Rate % in Midwest region
Market overview
Demographics & Economy
Spencer, SD has 333 residents in 143 households. Density runs 4 people per square mile. Median household income here is $75,625 and median gross rent $425 a month.
333
Population
143
Households
2.3
Avg Household Size
42
Median Age
26%
College-Educated
97%
High-School Grad
77.8 sq mi
ZIP Area
4
Density / Sq Mi
$75,625
Median Household Income
$49,821
Median Earnings
$425
Median Rent
$199,200
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Farmer | — | — |
| Salem | — | — |
| Canova | — | — |
| Bridgewater | — | — |
Methodology & data sources
- Vacancy rates
- Published per-sector market series, taken at the metro level where one exists and otherwise at the Census-region level — a chart reading "in <region> region" is a regional number, not this city's.
- Refresh
- The monthly aggregates close at the end of the previous month, so 31 August 2026 — not today — is the honest last update.
- Known limitations
- office vacancy is reported at Midwest region level, retail vacancy is reported at Midwest region level and industrial vacancy is reported at Midwest region level.
- Coverage
- Metrics below the 10-observation threshold fall back one geographic level. The geography used is named on each figure.
Compiled by the Realmo Data team · reviewed 31 August 2026 · report a data issue
