As of the census of 2010, there were 2,217 people, 1,008 households, and 554 families living in the town. The population density was. There were 1,123 housing units at an average density of. The racial makeup of the town was 98.1% White, 0.1% African American, 0.2% Native American, 0.5% Asian, 0.2% from other races, and 0.9% from two or more races. Hispanic or Latino of any race were 2.1% of the population. There were 1,008 households of which 24.6% had children under the age of 18 living with them, 38.4% were married couples living together, 12.8% had a female householder with no husband present, 3.8% had a male householder with no wife present, and 45.0% were non-families. 40.1% of all households were made up of individuals and 18.4% had someone living alone who was 65 years of age or older. The average household size was 2.12 and the average family size was 2.81. The median age in the town was 41.8 years. 20.1% of residents were under the age of 18; 9.4% were between the ages of 18 and 24; 24.2% were from 25 to 44; 26.3% were from 45 to 64; and 19.8% were 65 years of age or older. The gender makeup of the town was 47.2% male and 52.8% female.
2000 census
As of the census of 2000, there were 2,508 people, 1,090 households, and 659 families living in the town. The population density was 1,984.6 people per square mile. There were 1,193 housing units at an average density of 944.0 per square mile. The racial makeup of the town was 98.52% White, 0.20% African American, 0.40% Asian, 0.24% from other races, and 0.64% from two or more races. Hispanic or Latino of any race were 0.60% of the population. There were 1,090 households out of which 27.2% had children under the age of 18 living with them, 45.1% were married couples living together, 12.8% had a female householder with no husband present, and 39.5% were non-families. 35.0% of all households were made up of individuals and 18.5% had someone living alone who was 65 years of age or older. The average household size was 2.23 and the average family size was 2.88. In the town, the population was spread out with 23.0% under the age of 18, 10.1% from 18 to 24, 26.7% from 25 to 44, 20.3% from 45 to 64, and 20.0% who were 65 years of age or older. The median age was 39 years. For every 100 females, there were 83.2 males. For every 100 females age 18 and over, there were 81.9 males. The median income for a household in the town was $28,664, and the median income for a family was $36,921. Males had a median income of $29,679 versus $21,531 for females. The per capita income for the town was $15,843. About 8.4% of families and 9.5% of the population were below the poverty line, including 13.2% of those under age 18 and 8.8% of those age 65 or over.
Education
is located in Spencer with 980 students and more than 100 faculty members. Built in 1971, OVHS is the result of a consolidation of several smaller schools located within Owen County. Owen Valley's mascot is the Patriot, and the school's colors are red, white and blue. The school's yearbook is the Triad, Tri- representing the three schools that were merged to create Owen Valley High School. The town has a lending library, the Owen County Public Library.
