This was 10.4 percent lower than the state average of 41.8 percent. In 2020 the total municipality population reached 1,690.
92.8 percent of the population had at least a high school diploma or the equivalent.
Degree distribution in Spencer for 2020*
| Degree | Number of people | Percentage of population |
|---|---|---|
| No degree | 83 | 7.2 |
| Regular high school diploma | 406 | 35.5 |
| GED or alternative credential | 42 | 3.7 |
| Some college, less than 1 year | 89 | 7.8 |
| Some college, 1 or more years, no degree | 166 | 14.5 |
| Associate's degree | 136 | 11.9 |
| Bachelor's degree | 183 | 16 |
| Master's degree | 30 | 2.6 |
| Professional school degree | 10 | 0.9 |
| Doctorate degree | 0 | 0 |
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