Independence, MO
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Highest Appreciating Independence Neighborhoods Since 2000




Independence, MO 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 117,255, 48,313 total housing units (homes and apartments), and a median house value of $104,161, house prices in Independence are solidly below the national average.

Single-family detached homes are the single most common housing type in Independence, accounting for 72.75% of the city's housing units. Other types of housing that are prevalent in Independence include large apartment complexes or high rise apartments ( 14.44%), duplexes, homes converted to apartments or other small apartment buildings ( 5.62%), and a few row houses and other attached homes ( 5.19%).

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 62.72% owning and 37.28% renting.

At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. Independence's housing was primarily built during this period, from the '40s through the '60s. A full 43.99% of the city's housing hails from this era. Other housing ages represented in Independence include homes built between 1970-1999 ( 35.85%) and housing constructed before 1939 ( 12.01%). There's also some housing in Independence built between 2000 and later ( 8.15%).

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 -1.01%, which is lower than 70% of US communities.

NeighborhoodScout's data show that during the latest twelve months, Independence's appreciation rate, at 5.50%, has been at or slightly above the national average. In the latest quarter, Independence's appreciation rate has been -0.04%, which annualizes to a rate of -0.17%.

Relative to Missouri, our data show that Independence's latest annual appreciation rate is higher than 80% of the other cities and towns in Missouri.

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:
$104,161

Independence, MO HOME PRICES

Value Range
> $1,099,000 0.2
$825,001 - $1,099,000 0.0
$550,001 - $825,000 0.4
$440,001 - $550,000 0.4
$330,001 - $440,000 1.7
$220,001 - $330,000 6.8
$110,001 - $220,000 36.4
$55,001 - $110,000 43.0
$0 - $55,000 11.1

Low for MO
Low for Nation

Value Relative to Nation Value Relative to State
74.8740185163483 66.6

Number Of Homes And Apartments:
48,313

Independence Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
MO*
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
12.28% 0.67% 1 1
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,055 / per month

Homeownership Rate

Homeownership
Owners 62.72
Renters 37.28
Vacant 9.49

Housing Market Details

 

Age of Homes

AGE OF Independence HOMES
2000 or Newer 8.2
1970 - 1999 35.8
1940 - 1969 44.0
1939 or Older 12.0

Types of Homes

TYPE OF Independence HOMES
Single-Family 72.8
Townhomes 5.2
Small Apt. Buildings 5.6
Apt. Complexes 14.4
Mobile Homes 2.0
Other 0.0

Home Size

SIZE OF Independence HOMES
No Bedroom 2.00
1 Bedroom 11.11
2 Bedrooms 28.63
3 Bedrooms 45.03
4 Bedrooms 11.01
5 or more bedrooms 2.21