This was 40.4 percent lower than the state average of 52.2 percent. In 2020 the total municipality population reached 5,810.
88.7 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 | 515 | 11.3 |
| Regular high school diploma | 1,953 | 43 |
| GED or alternative credential | 285 | 6.3 |
| Some college, less than 1 year | 240 | 5.3 |
| Some college, 1 or more years, no degree | 1,018 | 22.4 |
| Associate's degree | 246 | 5.4 |
| Bachelor's degree | 224 | 4.9 |
| Master's degree | 51 | 1.1 |
| Professional school degree | 0 | 0 |
| Doctorate degree | 15 | 0.3 |
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