Independence, VA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Independence, VA Real Estate Data


Independence Housing Market Information

With a population of 927, 516 total housing units (homes and apartments), and a median house value of $103,481, 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 60.78% of the town's housing units. Other types of housing that are prevalent in Independence include large apartment complexes or high rise apartments ( 21.73%), duplexes, homes converted to apartments or other small apartment buildings ( 12.19%), and a few mobile homes or trailers ( 4.42%).

The most prevalent building size and type in Independence are three and four bedroom dwellings, chiefly found in single-family detached homes. The town has a mixture of owners and renters, with 38.01% owning and 61.99% renting.

There is a lot of housing in Independence built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Independence built between 1940-1969 ( 37.28%). A lesser amount of the housing stock also hails from before 1939 ( 8.13%). There's also some housing in Independence built between 2000 and later ( 3.53%).

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 -1.27%, which is lower than 80% of US communities.

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 2.69%, 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 1.96%, which equates to an annual appreciation rate of 8.06%.

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

Average Home Values

 

Median Home Value:
$103,481

Independence, VA HOME PRICES

Value Range
> $1,009,000 0.0
$757,001 - $1,009,000 0.0
$505,001 - $757,000 1.7
$404,001 - $505,000 0.3
$303,001 - $404,000 4.3
$202,001 - $303,000 12.2
$101,001 - $202,000 31.5
$51,001 - $101,000 33.6
$0 - $51,000 16.4

Very Low for VA
Low for Nation

Value Relative to Nation Value Relative to State
76.6176728933654 85.3185595567867

Number Of Homes And Apartments:
516

Rent & Ownership

 

Average Market Rent:
$754 / per month

Homeownership Rate

Homeownership
Owners 38.01
Renters 61.99
Vacant 8.83

Housing Market Details

 

Age of Homes

AGE OF Independence HOMES
2000 or Newer 3.5
1970 - 1999 51.1
1940 - 1969 37.3
1939 or Older 8.1

Types of Homes

TYPE OF Independence HOMES
Single-Family 60.8
Townhomes 0.9
Small Apt. Buildings 12.2
Apt. Complexes 21.7
Mobile Homes 4.4
Other 0.0

Home Size

SIZE OF Independence HOMES
No Bedroom 2.83
1 Bedroom 15.19
2 Bedrooms 29.86
3 Bedrooms 46.82
4 Bedrooms 2.83
5 or more bedrooms 2.47

Independence Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
VA*
Compared To
America*
Latest Quarter:
2016 Q2 - 2016 Q3
Last 12 Months:
2015 Q4 - 2016 Q3
Last 2 Years:
2014 Q4 - 2016 Q3
Last 5 Years:
2011 Q4 - 2016 Q3
Last 10 Years:
2006 Q4 - 2016 Q3
Since 2000:
2000 Q1 - 2016 Q3
44.84% 2.20% 3 5
* 10 is highest

Popular Neighborhoods in Independence

Zip Codes in Independence, VA