Independence KY
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA



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Independence, KY 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 2020. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2018 (latest available). Updated annually.

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

Independence Housing Market Information

With 28,109 people, 9,045 houses or apartments, and a median cost of homes of $192,097, 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 84.39% of the city's housing units. Other types of housing that are prevalent in Independence include large apartment complexes or high rise apartments ( 9.13%), duplexes, homes converted to apartments or other small apartment buildings ( 3.37%), and a few mobile homes or trailers ( 1.59%).

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 82.68% of Independence's homes, and 77.38% have either three or four bedrooms, which is average sized relative to America.

Independence homes and real estate are some of the newest in America. 44.05% of Independence's housing was built since 2000, making the city have a very new look and feel. If you like the amenities of newer homes and subdivisions, then you will probably like what the Independence real estate market has to offer. Quite a bit of the housing here was also built between 1970-1999 ( 42.01%), and between 1940-1969 ( 11.91%). There's also some housing in Independence built before 1939 ( 2.03%).

Independence Home Appreciation Rates

Real estate appreciation rates in Independence's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 1.97% during the period.

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 3.55%, 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 0.71%, which equates to an annual appreciation rate of 2.86%.

Relative to Kentucky, our data show that Independence's latest annual appreciation rate is lower than 70% of the other cities and towns in Kentucky.

Average Home Values

 

Median Home Value:
$192,097

Independence, KY HOME PRICES

Value Range
> $1,171,000 0.3
$879,001 - $1,171,000 0.3
$586,001 - $879,000 0.3
$468,001 - $586,000 0.6
$352,001 - $468,000 4.1
$234,001 - $352,000 20.9
$117,001 - $234,000 58.5
$58,001 - $117,000 10.4
$0 - $58,000 4.6

Very High for KY
Average for Nation

Value Relative to Nation Value Relative to State
43.451094890511 15.9600997506234

Number Of Homes And Apartments:
9,045

Independence Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
KY*
Compared To
America*
Latest Quarter:
2019 Q4 - 2020 Q1
Last 12 Months:
2019 Q1 - 2020 Q1
Last 2 Years:
2018 Q1 - 2020 Q1
Last 5 Years:
2015 Q1 - 2020 Q1
Last 10 Years:
2010 Q1 - 2020 Q1
Since 2000:
2000 Q1 - 2020 Q1
34.87% 1.49%
2
2
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,237 / per month

Homeownership Rate

Homeownership
Owners 82.68
Renters 17.32
Vacant 4.80

Housing Market Details

 

Age of Homes

AGE OF Independence HOMES
2000 or Newer 44.0
1970 - 1999 42.0
1940 - 1969 11.9
1939 or Older 2.0

Types of Homes

TYPE OF Independence HOMES
Single-Family 84.4
Townhomes 1.5
Small Apt. Buildings 3.4
Apt. Complexes 9.1
Mobile Homes 1.6
Other 0.0

Home Size

SIZE OF Independence HOMES
No Bedroom 0.48
1 Bedroom 3.09
2 Bedrooms 14.45
3 Bedrooms 54.96
4 Bedrooms 22.42
5 or more bedrooms 4.59