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Data on this report is based on areas within the legal city boundary, outlined in black on the map. Any additional neighborhoods shown on the map are associated with the city by name and are included for reference only.



Independence, IA Real Estate Market

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q4 2023. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2022 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Independence, IA Housing Market Trends

With a population of 6,179, 2,641 total housing units (homes and apartments), and a median house value of $254,919, Independence real estate and house prices are near the national average for all cities and towns.

Single-family detached homes are the single most common housing type in Independence, accounting for 70.71% of the city's housing units. Other types of housing that are prevalent in Independence include duplexes, homes converted to apartments or other small apartment buildings ( 16.09%), large apartment complexes or high rise apartments ( 6.71%), and a few row houses and other attached homes ( 3.97%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Independence. Owner-occupied housing accounts for 67.20% of Independence's homes, and 52.34% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Independence built from 1970 to 1999 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 before 1939 ( 32.88%). A lesser amount of the housing stock also hails from between 1940-1969 ( 20.41%). There's also some housing in Independence built between 2000 and later ( 12.61%).

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 4.17%, which is lower than 80% of US communities.

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 4.37%, 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 1.02%, which equates to an annual appreciation rate of 4.14%.

Relative to Iowa, our data show that Independence's latest annual appreciation rate is higher than 50% of the other cities and towns in Iowa.

Average Home Values

Median Home Value

$254,919

Independence, IA Home Prices
> $1,260,000
$945,001 - $1,260,000
$630,001 - $945,000
$504,001 - $630,000
$378,001 - $504,000
$252,001 - $378,000
$126,001 - $252,000
$63,001 - $126,000
$0 - $63,000
0.0%
0.0%
0.9%
0.9%
1.1%
1.1%
1.2%
1.2%
12.3%
12.3%
19.4%
19.4%
48.7%
48.7%
11.1%
11.1%
5.3%
5.3%
0% 100.0%
% of Homes
High

for Iowa

Average

for nation

Number of Homes And Apartments:

2,641

Independence Appreciation Rates

Rent & Ownership

Average Market Rent:

$1,023 / per month

Homeownership Rate

Owners
Renters
67.2%
67.2%
32.8%
32.8%
0% 100.0%
% of Homes

Vacancy Rate

Vacant
Occupied
7.2%
7.2%
92.8%
92.8%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
12.6%
12.6%
34.1%
34.1%
20.4%
20.4%
32.9%
32.9%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
70.7%
70.7%
4.0%
4.0%
16.1%
16.1%
6.7%
6.7%
2.5%
2.5%
0.0%
0.0%
0% 100.0%
% of Homes

Home Size

No Bedroom
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 or more bedrooms
2.5%
2.5%
13.4%
13.4%
26.2%
26.2%
34.0%
34.0%
18.4%
18.4%
5.5%
5.5%
0% 100.0%
% of Homes

Popular Neighborhoods in Independence

Zip Codes in Independence, IA