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 Q3 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 about Scout's Real Estate Data

Independence Housing Market Information

With 28,521 people, 9,045 houses or apartments, and a median cost of homes of $197,559, 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 2.21% during the period.

NeighborhoodScout's data show that during the latest twelve months, Independence's appreciation rate, at 3.86%, has been at or slightly above the national average. In the latest quarter, Independence's appreciation rate has been 1.42%, which annualizes to a rate of 5.80%.

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

 
info

Median Home Value:
$197,559

Independence, KY HOME PRICES

> $1,205,000
0.3%
0.3%
$904,001 - $1,205,000
0.3%
0.3%
$602,001 - $904,000
0.3%
0.3%
$482,001 - $602,000
0.6%
0.6%
$362,001 - $482,000
4.1%
4.1%
$241,001 - $362,000
20.9%
20.9%
$120,001 - $241,000
58.5%
58.5%
$60,001 - $120,000
10.4%
10.4%
$0 - $60,000
4.6%
4.6%
0.0% 100.0%
% OF HOMES
Value Relative To State

Average for Nation

Very High for KY

Value Relative To Nation

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:
2020 Q2 - 2020 Q3
Last 12 Months:
2019 Q3 - 2020 Q3
Last 2 Years:
2018 Q3 - 2020 Q3
Last 5 Years:
2015 Q3 - 2020 Q3
Last 10 Years:
2010 Q3 - 2020 Q3
Since 2000:
2000 Q1 - 2020 Q3
38.70% 1.59%
2
2
* 10 is highest

Rent & Ownership

 
info

Average Market Rent:
$1,281 / per month

Homeownership Rate

Owners
82.7%
82.7%
Renters
17.3%
17.3%
Vacant
4.8%
4.8%
0.0% 100.0%
% OF HOMES

Housing Market Details

 
info

Age of Homes

2000 or Newer
44.0%
44.0%
1970 - 1999
42.0%
42.0%
1940 - 1969
11.9%
11.9%
1939 or Older
2.0%
2.0%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
84.4%
84.4%
Townhomes
1.5%
1.5%
Small Apt. Buildings
3.4%
3.4%
Apt. Complexes
9.1%
9.1%
Mobile Homes
1.6%
1.6%
Other
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
0.5%
0.5%
1 Bedroom
3.1%
3.1%
2 Bedrooms
14.5%
14.5%
3 Bedrooms
55.0%
55.0%
4 Bedrooms
22.4%
22.4%
5 or more bedrooms
4.6%
4.6%
0.0% 100.0%
% OF HOMES