This was 16.1 percent lower than the state average of 41.9 percent. In 2020 the total municipality population reached 3,227.
78.3 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 | 512 | 21.7 |
| Regular high school diploma | 575 | 24.4 |
| GED or alternative credential | 183 | 7.8 |
| Some college, less than 1 year | 124 | 5.3 |
| Some college, 1 or more years, no degree | 356 | 15.1 |
| Associate's degree | 154 | 6.5 |
| Bachelor's degree | 331 | 14 |
| Master's degree | 84 | 3.6 |
| Professional school degree | 40 | 1.7 |
| Doctorate degree | 0 | 0 |
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