Independence, KY 41051 - Home Prices, Rental Trends, Listings & Demographics | Prop:Metrics

Independence, KY—41051

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value

$323,000

3.8% YoY Growth

Household Income

$100,000

24.8% YoY Growth

Days on Market

10.0% Longer YoY

Home Price Forecast

1.8%

Median Rent

$2,000

14.7% YoY Growth

1-Bed Rent

$1,040

N/A

2-Bed Rent

$1,550

64.8% YoY Growth

3-Bed Rent

$2,000

21.8% YoY Growth

Home Price Trends — Independence, KY

As of Dec '25, the median home price in Independence, KY is $323,000, with a year-over-year change of 3.8%. This indicates that home prices in Independence, KY are increasing. According to Zillow, the 1-year price projection is 1.8%, suggesting an increase housing market in the next year.

Cost per Home Type

Home Type	Median Home Value	YoY % Change
All Homes	$323,000	3.8%
Single Family	$323,000	3.5%
Condos	N/A	N/A

Cost per Home Size

Home Size	Median Home Value	YoY % Change
1 Bed

Rental Trends — Independence, KY

As of July '25, Rentcast reports the average rent in Independence, KY is $2,110, with a year-over-year rent change of 14.7%. Per bedroom, the median rent as of July '25 in Independence, KY is 1-bedrooms: $1,040, 2-bedrooms: $1,730, 3-bedrooms: $2,120, 4-bedrooms: $2,590. The most common rental property sizes in Independence, KY are 2-bedroom and 3-bedroom, accounting for 49.6% and 28.3% of the rental stock.

Type	Median Rent	Average Rent
Average Rent	$2,000	$2,110
Studio Rent	N/A	N/A
1 Bed Rent	$1,040	$1,040
2 Bed Rent	$1,550	$1,730
3 Bed Rent	$2,000	$2,120
4 Bed Rent	$2,480	$2,590

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% of Rental Stock

Studio

1.5%

1 Bedroom

11.7%

2 Bedrooms

49.6%

3 Bedrooms

28.3%

4 Bedrooms

8.2%

5+ Bedrooms

0.6%

Property Listings — Independence, KY

As of Dec '25, Realtor.com reports that the median days on market for a home in Independence, KY is 32. This is a increase of 2.0% from last year, suggesting that homes are sitting on the market longer than last year. The percentage of listed homes with a reduced price is 30.0%, representing a large inventory and a lot of supply pressure on home prices.

Metric	Zip Code Average	Year over Year % Change
Median Listing Price	$378,000	10.0%
Listing Count	88	41.0%
Listings as % of Homes	0.7%	41.0%
Days on Market	55	10.0%

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Demographics — Independence, KY

As of the latest ACS Survey released in 2023, Independence, KY has a population of 32,200, which has increased by 6.7% over the past 5 years. Independence, KY is a popular place for families, as children make up 25.8% of the population. The area has a moderately educated workforce, with 38.5% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 12.3% reporting working from home.

Metric	Latest Census	YoY % Change
Population	32,200	6.7%
% Under 18	25.8%	-12.5%
% Seniors	11.9%	25.3%
% WFH	12.3%	284.4%
% w/ College Degree	38.5%	33.7%

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As of the latest ACS Survey released in 2023, Independence, KY is a predominantly white area, with 93.0% of the population identifying as white. The white population has shrunk by 1.7% in the last 5 years. The second most common race or ethnicity in Independence, KY is hispanic, making up 1.6% of the population. Foreign-born residents account for 3.0% of the population in Independence, KY, and this percentage has increased by 42.9% as of the ACS Survey 5 years prior, suggesting more immigrants are calling the area home.

Race and Ethnicity

Metric	Latest Census	5-Year % Change
% White	93.0%	-1.7%
% Black	1.5%	114.3%
% Hispanic	1.6%	60.0%
% Asian	1.3%	-38.1%
% Foreign Born	3.0%	42.9%

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Mortgage and Risk — Independence, KY

According to HUD data as of 2023, there were 818 mortgage originations in Independence, KY, of which 70.0% of loans were conventional mortgages. The average loan-to-value was 65.0%, with 32.0% above 90% LTV (very high). This implies large mortgage risk in Independence, KY. Investor activity is low, as 2.0% of loans were by investors. 16.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.

Mortgages

Metric	Zip Code Average
Total Loan Originations	818
% Conventional Loans	70.0%
% Government Loans	30.0%
% Investor Loans	2.0%
% Second Loans	0.0%
% Cash Out Refinance	16.0%

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Rentals and Section 8 — Independence, KY

As of 2024, the percent of homes in Independence, KY under the Section 8 program is 9.0%. This is considered low, suggesting that the neighborhood is sparsely composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. 1-bedroom units appear to be good home sizes to consider for Section 8 housing in Independence, KY, because HUD payments exceed market rent, while 2-bedroom and 3-bedroom and 4-bedroom units do not.

Section 8 Market Size

Total Units under HUD	159
Total Units Section 8	147
% Rentals under Section 8	9.0%
% Occupied Section 8	90.7%

Section 8 Opportunity

Home Size	HUD Premium	Market Rent	Max HUD Rent
1 Bedroom	$120	$1,040	$1,160
2 Bedroom	-$50	$1,550	$1,500
3 Bedroom	-$10	$2,000	$1,990
4 Bedroom	-$280	$2,480	$2,200

Independence, KY—41051

Key Metrics at a Glance

Home Price Trends — Independence, KY

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — Independence, KY

% of Rental Stock

Property Listings — Independence, KY

Demographics — Independence, KY

Race and Ethnicity

Mortgage and Risk — Independence, KY

Mortgages

Rentals and Section 8 — Independence, KY

Section 8 Market Size

Section 8 Opportunity

Affordability — Independence, KY

Home Price to Income Ratio

Independence, KY — ZIP Code Boundary Map

Nearby ZIP Codes

Taylor Mill, KY

Morning View, KY

Walton, KY

Lakeside Park, KY

Erlanger, KY

Frequently Asked Questions

Metric	Zip Code Average
Home Price to Income Ratio	2.9
Median Home Price	$323,000
Median Household Income	$100,000

Independence, KY—41051

Key Metrics at a Glance

Home Price Trends — Independence, KY

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — Independence, KY

% of Rental Stock

Property Listings — Independence, KY

Demographics — Independence, KY

Race and Ethnicity

Mortgage and Risk — Independence, KY

Mortgages

Rentals and Section 8 — Independence, KY

Section 8 Market Size

Section 8 Opportunity

Affordability — Independence, KY

Home Price to Income Ratio

Independence, KY — ZIP Code Boundary Map

Nearby ZIP Codes

Taylor Mill, KY

Morning View, KY

Walton, KY

Lakeside Park, KY

Erlanger, KY

Frequently Asked Questions

What is the average home price in Independence, KY 41051?

How have home prices in Independence, KY 41051 changed over the past year?

What is the home price projection for Independence, KY 41051?

What are the demographics of Independence, KY 41051?

How long does it take homes to sell in Independence, KY 41051?

What is the average rent price in Independence, KY 41051?