Spencer County, Kentucky: commercial real estate data.
Spencer County, Kentucky had an estimated 20,823 residents on July 1, 2024, up 7.2 percent since the 2020 census base of 19,424, across 187 square miles. 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 since FY2020.
Underlined figures are computed by MMCG Analytics, not published by the agency.
Spencer County
How many people live in Spencer County
- Population, American Community Survey 2020-202420,193
- 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-equivalents, Puerto Rico included1867th of 3,222
Spencer County is the 57th largest of 120 Kentucky counties by population. A median home costs 3.2 times median household income, which is moderately unaffordable 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's population growing?
- Population, July 1, 202420,823
- Census 2020 base population19,424
- Population change since the 2020 census base7.20 percent
- Population change, 2023 to 2024266
- 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 of 3,144
The county has grown 7.20 percent since the 2020 census base. The population grew in 2024 from both sources: births exceeded deaths and more people moved in than left.
US Census Bureau, Population Estimates Program, Vintage 2024, Vintage 2024, estimates 2020 to 2024.
Spencer County
Where are people moving to Spencer County from?
- Tax returns filed by households arriving649
- People arriving, from those returns1,342
- Tax returns filed by households leaving541
- Net household movement108
- Adjusted gross income arriving$48.5 m
- Net adjusted gross income movement$12.5 m
- Average income of an arriving household$74,760
- Average income of a leaving household$66,555
- Largest single originJefferson County (322 households)
- Largest single destinationJefferson County (163 households)
| Origin | Households | People | Adjusted gross income |
|---|---|---|---|
| Jefferson County | 322 | 697 | $27.3 m |
| Bullitt County | 87 | 194 | $6.3 m |
| Shelby County | 56 | 112 | $2.9 m |
| Nelson County | 36 | 66 | $2.4 m |
Households arriving report $8,205 more average income than households leaving, so the migration is raising local spending power rather than just moving it around. The largest single source of arrivals is Jefferson County, 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 is the Spencer County economy?
- 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 the Kentucky areas BEA publishes82nd of 120
- Rank by GDP among the US county areas BEA publishes2472nd of 3,127
- 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
Employment by industry in Spencer County
- Covered employment, annual average2,235
- Establishments reporting440
- Average annual pay$46,034
- Average weekly wage$885
- Retail trade, employment261
- Retail trade, average annual pay$30,933
- Construction, employment235
- Construction, average annual pay$55,493
- Accommodation and food services, employment208
- Accommodation and food services, average annual pay$20,728
- Administrative and support and waste management services, employment134
- Administrative and support and waste management services, average annual pay$36,160
- Finance and insurance, employment71
- Other services, except public administration, employment51
| Sector | Employment | Establishments | Average annual pay |
|---|---|---|---|
| Retail trade | 261 | 37 | $30,933 |
| Construction | 235 | 77 | $55,493 |
| Accommodation and food services | 208 | 20 | $20,728 |
| Administrative and support and waste management services | 134 | 33 | $36,160 |
| Finance and insurance | 71 | 22 | $56,030 |
| Other services, except public administration | 51 | 29 | $46,015 |
| Wholesale trade | 46 | 26 | $102,278 |
| Real estate and rental and leasing | 46 | 9 | $52,400 |
Retail trade is the largest private sector at 261 jobs, 11.7 percent of covered employment.
US Bureau of Labor Statistics, Quarterly Census of Employment and Wages, 2024 annual averages.
Spencer County
How many businesses are 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. County Business Patterns counts private establishments with paid employees in March 2023, while the Quarterly Census of Employment and Wages above counts every unemployment-insured employer, public ones included, as a 2024 annual average, so the two establishment and employment counts differ.
US Census Bureau, County Business Patterns, 2023.
Spencer County
Building permits in Spencer County
- Housing units authorized by permit, 2024126
- Declared construction value permitted$40.2 m
- Single family units authorized126
- Multifamily units authorized0
- Multifamily share of units0.0 percent
- Average declared value per unit$318,749
- Units authorized per 1,000 households17.2
Single-family homes are 100.0 percent of units authorized, so the pipeline is predominantly single-family.
US Census Bureau, Building Permits Survey, 2024 annual.
Spencer County
SBA loans in Spencer County (7(a) and 504)
- 7(a) approvals recorded13
- 7(a) gross approval dollars$7.0 m
- Average 7(a) approval$540,431
- Median 7(a) approval$128,300
- 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
- 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
- Combined SBA approval dollars, 7(a) FY2020 to FY2026 and 504 FY2010 to FY2026$7.7 m
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
SBA loan default and charge-off rates in 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
Only 2 loans have reached a final outcome, fewer than the 30 a charge-off rate needs, so no rate is published.
Compare against the national and state SBA charge-off rates, computed the same way over resolved loans only.
US Small Business Administration, 7(a) FOIA release, FY2020 to FY2026 year to date, as of 2026-06-30.
Spencer County
SBA lending by place in Spencer County
- Borrower cities with recorded lending4
- Taylorsville, approvals9
- Fisherville, approvals2
- Coxs Creek, approvals1
- Bloomfield, approvals1
| Borrower city | Approvals | Gross approval dollars |
|---|---|---|
| Taylorsville | 9 | $6,775,800 |
| Fisherville | 2 | $163,300 |
| Coxs Creek | 1 | $50,000 |
| Bloomfield | 1 | $36,500 |
US Small Business Administration, 7(a) FOIA release, FY2020 to FY2026 year to date, as of 2026-06-30.
Spencer County
How large 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.
Spencer County
Flood risk in Spencer County
- Participation of the county's own NFIP community Spencer County, unincorporated areasParticipating, community 210211
- Communities in the county in the NFIP Community Status Book2
- Of those, participating in the NFIP2
- NFIP participation rate100.0 percent
- Communities carrying a CRS class0
- Radon levels in Spencer County, EPA zone predicted average indoor radon screening level from 2 to 4 pCi/LZone 2
The county's own community in the status book, unincorporated Spencer County (community 210211), participates in the National Flood Insurance Program and carries no Community Rating System class, so no CRS premium discount applies there. The EPA places Spencer County in radon zone 2, a predicted average indoor radon screening level from 2 to 4 pCi/L. The zone is a screening prediction for the county and does not substitute for a test at an address. 100.0 percent of the county's listed communities participate in the National Flood Insurance Program, per Federal Emergency Management Agency, NFIP Community Status Book (OpenFEMA), as of 2026-09-26.
Federal Emergency Management Agency, NFIP Community Status Book (OpenFEMA), as of 2026-09-26. US EPA, Map of Radon Zones, county spreadsheet, 2024-05 publication, EPA 402/A-16/001.
Coverage
What this page does not hold.
Traffic counts, zoning and the flood zone at an address are not on this page; they resolve at the address in the platform. How this page was built →
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.
- Population, American Community Survey 2020-202420,193
- 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?
The Census Bureau estimates 20,823 residents on July 1, 2024 (US Census Bureau, Population Estimates Program, Vintage 2024). The American Community Survey 2020-2024 five-year estimate is 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's population growing?
The population has grown 7.20 percent since the 2020 census base of 19,424, to 20,823 on July 1, 2024. 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 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 employment by industry in Spencer County?
Retail trade is the largest private sector at 261 jobs, 11.7 percent of covered employment. Covered employment averages 2,235 jobs at an average annual pay of $46,034, or $885 a week. 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 totaling $7.0 m since FY2020, across 11 lenders, with a median approval of $128,300, plus 3 504 approvals worth $708,000 since FY2010. These are approvals recorded in the release, not loans disbursed.
How many building permits were issued in Spencer County?
126 housing units were authorized 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 Jefferson County, with 322 households. Arriving households report an average income of $74,760 against $66,555 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?
No. Nothing on this page presents parcel level zoning, and where a statutory framework applies it is marked as the statewide frame, to be confirmed locally.
Spencer County
Cities and places in Spencer.
2 Census places lie wholly or partly in Spencer County. All 2 carry enough published place level data for a page of their own and are linked.
| Place | Type | Population | SBA 7(a) approvals, projects in this county | Lies in |
|---|---|---|---|---|
| Elk Creek | CDP | 2,207 | None recorded | Wholly in this county |
| Taylorsville | city | 1,496 | 9 | Wholly in this county |
A further 4 of the county's 13 SBA 7(a) approvals are to borrowers in cities that match no Census place in Spencer County, the largest being Fisherville (2), Coxs Creek (1), Bloomfield (1). Those are postal cities, unincorporated areas and cities outside the county, so no place row claims them; they are counted in the county total above.
Nearby