Independence, KS
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Independence, KS Real Estate Data

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 Q1 2017. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2015 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

Independence Housing Market Information

With a population of 8,958, 3,618 total housing units (homes and apartments), and a median house value of $74,770, house prices in Independence are some of the most affordable in Kansas as well as the nation.

Single-family detached homes are the single most common housing type in Independence, accounting for 79.35% of the city's housing units. Other types of housing that are prevalent in Independence include large apartment complexes or high rise apartments ( 10.25%), duplexes, homes converted to apartments or other small apartment buildings ( 6.47%), and a few mobile homes or trailers ( 2.56%).

The most prevalent building size and type in Independence are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 59.24% owning and 40.76% renting.

The housing in Independence was primarily built before 1939 ( 44.47%), making the housing stock in Independence some of the oldest overall in America, although there is a range of ages of homes in Independence. The next most important housing age is between 1940-1969 ( 27.97%), followed by between 1970-1999 ( 23.49%). There's also some housing in Independence built between 2000 and later ( 4.06%).

Vacant housing appears to be an issue in Independence. Fully 20.94% of the housing stock is classified as vacant. Left unchecked, vacant Independence homes and apartments can be a drag on the real estate market, holding Independence real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.

Independence Home Appreciation Rates

Appreciation rates for homes in Independence have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 0.62%, which ranks in the top 50% nationwide. This equates to an annual average Independence house appreciation rate of 0.06%.

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 -6.00%, 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 1.04%, which equates to an annual appreciation rate of 4.23%.

Relative to Kansas, our data show that Independence's latest annual appreciation rate is lower than 90% of the other cities and towns in Kansas.

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 2000, to assist you in making the best Independence real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$74,770

Independence, KS HOME PRICES

Value Range
> $984,000 0.4
$738,001 - $984,000 0.0
$492,001 - $738,000 0.0
$393,001 - $492,000 0.0
$295,001 - $393,000 1.5
$197,001 - $295,000 5.1
$99,001 - $197,000 22.3
$49,001 - $99,000 38.1
$0 - $49,000 32.6

Very Low for KS
Very Low for Nation

Value Relative to Nation Value Relative to State
93.2555959217157 83.3333333333333

Number Of Homes And Apartments:
3,618

Independence Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
KS*
Compared To
America*
Latest Quarter:
2016 Q4 - 2017 Q1
Last 12 Months:
2016 Q1 - 2017 Q1
Last 2 Years:
2015 Q1 - 2017 Q1
Last 5 Years:
2012 Q1 - 2017 Q1
Last 10 Years:
2007 Q1 - 2017 Q1
Since 2000:
2000 Q1 - 2017 Q1
21.85% 1.15% 1 2
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$844 / per month

Homeownership Rate

Homeownership
Owners 59.24
Renters 40.76
Vacant 20.94

Housing Market Details

 

Age of Homes

AGE OF Independence HOMES
2000 or Newer 4.1
1970 - 1999 23.5
1940 - 1969 28.0
1939 or Older 44.5

Types of Homes

TYPE OF Independence HOMES
Single-Family 79.3
Townhomes 1.4
Small Apt. Buildings 6.5
Apt. Complexes 10.2
Mobile Homes 2.6
Other 0.0

Home Size

SIZE OF Independence HOMES
No Bedroom 1.90
1 Bedroom 8.87
2 Bedrooms 29.11
3 Bedrooms 46.88
4 Bedrooms 12.24
5 or more bedrooms 1.01

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Zip Codes in Independence, KS