Communication device with selective spectrum assignment and related methods

A communications device may include a wireless radio frequency (RF) transceiver, and a controller coupled to the wireless RF transceiver. The controller may be configured to determine received signal characteristics and perform a spectral estimation operation associated with a frequency spectrum on the received signal characteristics, determine a channel selection method characteristic associated with a channel in the frequency spectrum including channels, generate statistical values for each channel based upon the received signal characteristics, and select a portion of the frequency spectrum for a signal to be transmitted by the wireless RF transceiver based upon the spectral estimation operation, the statistical values, and the channel selection method characteristic.