Home Insurance in Spencer, Tennessee
With a median home value of $150,800, Spencer is 5% lower than the Van Buren County median.
The typical home in Spencer was built around 1975. Because older housing stock often has aging wiring, roofing or plumbing, it can cost more to insure or rebuild. About 14% of homes were built before 1960, about 3 points below Van Buren County's 17%.
In Spencer, the housing stock is 77% single-family homes, 2% apartments in buildings with 5+ units and 11% mobile or manufactured homes. The rest are 2-4 unit or other housing types. Mobile and manufactured homes typically need a manufactured-home (HO-7) policy rather than a standard homeowners policy.
About 25% of owner-occupied homes in Spencer have a mortgage. Lenders require hazard (homeowners) insurance on any home carrying a mortgage.
Spencer has an owner-occupancy rate of 74% and a vacancy rate of 10%; unoccupied homes typically need a different coverage form.
Most homes in Spencer - 51% - are primarily heated with electricity.
Van Buren County's top FEMA-rated hazard is wildfire (Very Low), per FEMA's National Risk Index. Van Buren County had 16 active NFIP flood policies as of September 2026. See the full Van Buren County home insurance overview for all FEMA hazard ratings and flood coverage details.
The statewide average premium for a standard HO-3 homeowners policy in Tennessee is $1,649 per year, according to the NAIC homeowners insurance report (2023 data).
Key figures
| Median home value | $150,800 |
|---|---|
| Median year built | 1975 |
| Owner-occupied share | 74% |
| Share of owner-occupied homes with a mortgage | 25% |
| Top county hazard | Wildfire (Very Low) |
| Active NFIP policies in Van Buren County | 16 |
| Home insurance premium | $1,649 - statewide average (NAIC, 2023 data) |
Nearby towns
Sources
Data last updated: 2026-09-29
- U.S. Census Bureau Gazetteer Files (2024)
- U.S. Census Bureau, American Community Survey 2020-2024 5-Year Estimates (2024)
- FEMA National Risk Index (December 2025)
- FEMA OpenFEMA NFIP Redacted Policies v3 (2026)
- NAIC Dwelling Fire, Homeowners Owner-Occupied, and Homeowners Tenant and Condominium/Cooperative Unit Owners Insurance: Data for 2023 (published 2026) (2023)