Independence, KY
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating Independence Neighborhoods Since 2000




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 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 26,819, 8,705 total housing units (homes and apartments), and a median house value of $166,383, 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 86.42% of the city's housing units. Other types of housing that are prevalent in Independence include large apartment complexes or high rise apartments ( 8.79%), duplexes, homes converted to apartments or other small apartment buildings ( 2.09%), and a few mobile homes or trailers ( 1.64%).

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 79.15% of Independence's homes, and 80.11% 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. 43.51% 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 ( 41.95%), and between 1940-1969 ( 12.67%). There's also some housing in Independence built before 1939 ( 1.87%).

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 -0.03% 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 3.08%, 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 0.43%, which equates to an annual appreciation rate of 1.74%.

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

Average Home Values

 

Median Home Value:
$166,383

Independence, KY HOME PRICES

Value Range
> $1,089,000 0.3
$817,001 - $1,089,000 0.0
$545,001 - $817,000 0.4
$436,001 - $545,000 0.6
$326,001 - $436,000 3.5
$218,001 - $326,000 16.4
$109,001 - $218,000 66.8
$54,001 - $109,000 8.3
$0 - $54,000 3.6

Very High for KY
Average for Nation

Value Relative to Nation Value Relative to State
43.0798078049924 15.5388471177945

Number Of Homes And Apartments:
8,705

Independence Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
KY*
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
16.11% 0.87% 1 2
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,181 / per month

Homeownership Rate

Homeownership
Owners 79.15
Renters 20.85
Vacant 6.76

Housing Market Details

 

Age of Homes

AGE OF Independence HOMES
2000 or Newer 43.5
1970 - 1999 41.9
1940 - 1969 12.7
1939 or Older 1.9

Types of Homes

TYPE OF Independence HOMES
Single-Family 86.4
Townhomes 1.1
Small Apt. Buildings 2.1
Apt. Complexes 8.8
Mobile Homes 1.6
Other 0.0

Home Size

SIZE OF Independence HOMES
No Bedroom 0.17
1 Bedroom 2.01
2 Bedrooms 13.61
3 Bedrooms 60.64
4 Bedrooms 19.47
5 or more bedrooms 4.09