Independence appreciation rates and housing market information

Independence housing market information

With 113,207 people, 50,176 houses or apartments, and a median cost of homes of $118,839, house prices in Independence are solidly below the national average.

single-family detached homes are the single most common housing type in Independence, accounting for 71.25% of the city's housing units. Other types of housing that are prevalent in Independence include large apartment complexes or high rise apartments (13.26%), duplexes, homes converted to apartments, or other small apartment buildings (8.99%), row houses and other attached homes (3.47%), and a few mobile homes or trailers (2.98%).

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 63.97% of Independence's homes, and 52.85% have either three or four bedrooms, which is average sized relative to America.

At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. Independence's housing was primarily built during this period, from the '40s through the '60s. A full 51.76% of the city's housing hails from this era. Other housing ages represented in Independence include homes built between 1970-1994 (30.78%), and housing constructed from 1939 and earlier (12.63%). There's also some housing in Independence built between 1995 and later (4.83%).

Independence home appreciation rates

Some of the lowest real estate appreciation rates in America over the last ten years have been in Independence, where house values have increased just 36.18%, which is an average annual increase of 3.61%. NeighborhoodScout's data show that in the latest quarter, Independence house values appreciated 0.64%, which is an annualized rate of 2.56%. This rate is lower than the appreciation rate found in 40% of the cities and towns in America.

Over the last year, Independence appreciation rates have trailed the rest of the nation. In the last twelve months, Independence's appreciation rate has been -2.14%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Independence were at 0.64%, which equates to an annual appreciation rate of 2.56%.

Relative to Missouri, our data show that Independence's latest annual appreciation rate is higher than 5% of the other cities and towns in Missouri.

One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Independence differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Independence - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 1990, to assist you in making the best Independence real estate investment or home purchase decisions.