Independence appreciation rates and housing market information

Independence housing market information

With 14,941 people, 5,356 houses or apartments, and a median cost of homes of $165,765, Independence real estate is some of the most expensive in Kentucky, although Independence home values aren't among America's most expensive.

single-family detached homes are the single most common housing type in Independence, accounting for 75.43% of the city's housing units. Other types of housing that are prevalent in Independence include large apartment complexes or high rise apartments (15.31%), duplexes, homes converted to apartments, or other small apartment buildings (4.50%), row houses and other attached homes (3.01%), and a few mobile homes or trailers (1.61%).

Owner-occupied, three and four bedroom single-family detached homes are the most prevalent type of housing you will see in Independence. Owner-occupied housing accounts for 74.37% of Independence's homes, and 68.66% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Independence built from 1970-1994, so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Independence built from 1940-1969 (23.17%). A lesser amount of the housing stock also hails from 1995 and later (21.25%), and some were built from 1939 and earlier (21.25%).

Independence home appreciation rates

Independence's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Independence during the period has been just 6.16%, which is lower than % of US communities.

NeighborhoodScout's data show that during the latest twelve months, Independence home appreciation rates, at 2.04%, have been at or slightly above the national average. In the latest quarter, Independence's appreciation rate has been 1.80%, which annualizes to a rate of 7.20%.

Importantly, this makes Independence one of the highest appreciating communities in the nation for the latest quarter, and may signal the city's near-future real estate investment strength.

Relative to Kentucky, our data show that Independence's latest annual appreciation rate is higher than 34% of the other cities and towns in Kentucky.