Independence, OH
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating Independence Neighborhoods Since 2000




Independence, OH 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 7,135, 2,736 total housing units (homes and apartments), and a median house value of $254,993, Independence real estate is some of the most expensive in Ohio, although Independence home values aren't among America's most expensive.

Single-family detached homes are the single most common housing type in Independence, accounting for 98.24% of the city's housing units. Other types of housing that are prevalent in Independence include row houses and other attached homes ( 1.37%).

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 94.16% of Independence's homes, and 83.37% have either three or four bedrooms, which is average sized relative to America.

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 46.41% of the city's housing hails from this era. Other housing ages represented in Independence include homes built between 1970-1999 ( 31.78%) and housing constructed before 1939 ( 12.54%). There's also some housing in Independence built between 2000 and later ( 9.27%).

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 -0.46% during the period.

NeighborhoodScout's data show that during the latest twelve months, Independence's appreciation rate, at 4.84%, has been at or slightly above the national average. In the latest quarter, Independence's appreciation rate has been -0.21%, which annualizes to a rate of -0.82%.

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

Average Home Values

 

Median Home Value:
$254,993

Independence, OH HOME PRICES

Value Range
> $1,125,000 0.4
$844,001 - $1,125,000 1.1
$563,001 - $844,000 3.0
$450,001 - $563,000 9.8
$337,001 - $450,000 16.6
$225,001 - $337,000 27.9
$112,001 - $225,000 33.5
$56,001 - $112,000 2.3
$0 - $56,000 5.3

Very High for OH
High for Nation

Value Relative to Nation Value Relative to State
21.7918668697996 6.8241469816273

Number Of Homes And Apartments:
2,736

Independence Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
OH*
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
7.32% 0.41% 5 1
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$833 / per month

Homeownership Rate

Homeownership
Owners 94.16
Renters 5.84
Vacant 3.59

Housing Market Details

 

Age of Homes

AGE OF Independence HOMES
2000 or Newer 9.3
1970 - 1999 31.8
1940 - 1969 46.4
1939 or Older 12.5

Types of Homes

TYPE OF Independence HOMES
Single-Family 98.2
Townhomes 1.4
Small Apt. Buildings 0.4
Apt. Complexes 0.0
Mobile Homes 0.0
Other 0.0

Home Size

SIZE OF Independence HOMES
No Bedroom 0.25
1 Bedroom 1.27
2 Bedrooms 9.02
3 Bedrooms 54.51
4 Bedrooms 28.86
5 or more bedrooms 6.10