Independence, VA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating Independence Neighborhoods Since 2000




Independence, VA 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 927 people, 587 houses or apartments, and a median cost of homes of $94,679, house prices in Independence are some of the most affordable in Virginia as well as the nation.

Single-family detached homes are the single most common housing type in Independence, accounting for 51.08% of the town's housing units. Other types of housing that are prevalent in Independence include large apartment complexes or high rise apartments ( 26.46%), duplexes, homes converted to apartments or other small apartment buildings ( 16.15%), and a few mobile homes or trailers ( 4.46%).

People in Independence primarily live in small (one, two or no bedroom) single-family detached homes. Independence has a mixture of owner-occupied and renter-occupied housing.

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 ( 34.62%). A lesser amount of the housing stock also hails from before 1939 ( 4.00%). There's also some housing in Independence built between 2000 and later ( 3.54%).

Independence Home Appreciation Rates

Homes have actually lost value in Independence over the last then years, as home values have seen a decline of 19.66% during the ten year period. In the latest quarter, NeighborhoodScout appreciation rate data shows Independence home appreciation rates at -1.60%, which equates to an annual appreciation rate of -6.23%.

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 -0.68%, 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 -1.60%, which equates to an annual appreciation rate of -6.23%.

Notably, Independence's appreciation rate in the latest quarter is one of the lowest in America.

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:
$94,679

Independence, VA HOME PRICES

Value Range
> $1,002,000 0.3
$752,001 - $1,002,000 0.0
$501,001 - $752,000 0.5
$401,001 - $501,000 0.3
$301,001 - $401,000 3.5
$200,001 - $301,000 11.8
$101,001 - $200,000 30.9
$50,001 - $101,000 37.0
$0 - $50,000 15.7

Very Low for VA
Very Low for Nation

Value Relative to Nation Value Relative to State
80.9973045822102 90.8587257617728

Number Of Homes And Apartments:
587

Independence Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
VA*
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
40.36% 1.98% 3 5
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$584 / per month

Homeownership Rate

Homeownership
Owners 35.42
Renters 64.58
Vacant 9.69

Housing Market Details

 

Age of Homes

AGE OF Independence HOMES
2000 or Newer 3.5
1970 - 1999 57.8
1940 - 1969 34.6
1939 or Older 4.0

Types of Homes

TYPE OF Independence HOMES
Single-Family 51.1
Townhomes 1.8
Small Apt. Buildings 16.2
Apt. Complexes 26.5
Mobile Homes 4.5
Other 0.0

Home Size

SIZE OF Independence HOMES
No Bedroom 3.69
1 Bedroom 17.23
2 Bedrooms 32.77
3 Bedrooms 41.08
4 Bedrooms 3.23
5 or more bedrooms 2.00

Popular Neighborhoods in Independence

Zip Codes in Independence, VA