Independence, KY—41051
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Independence, KY
As of Oct '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 1.4%, 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 | $324,000 | 3.8% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $213,000 | 2.4% |
3 Bed | $299,000 | 3.5% |
4 Bed | $379,000 | 4.1% |
| 5 Bed | $429,000 | 3.6% |
% of Housing Stock
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 |
% of Rental Stock
Property Listings — Independence, KY
As of Oct '25, Realtor.com reports that the median days on market for a home in Independence, KY is 31. This is a increase of 8.0% 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 | $377,000 | 4.0% |
Listing Count | 101 | 23.0% |
| Listings as % of Homes | 0.7% | 23.0% |
Days on Market | 31 | 8.0% |
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% |
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% |
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% |
Loan Activity
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 |
Affordability — Independence, KY
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 2.9 |
| Median Home Price | $323,000 |
| Median Household Income | $100,000 |