Independence, OH 44131 - Home Prices, Rental Trends, Listings & Demographics | Prop:Metrics

Independence, OH—44131

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value

$304,000

5.7% YoY Growth

Household Income

$98,800

15.4% YoY Growth

Days on Market

23.0% Shorter YoY

Home Price Forecast

2.6%

Median Rent

$2,020

27.4% YoY Growth

1-Bed Rent

N/A

2-Bed Rent

$1,100

8.3% YoY Growth

3-Bed Rent

$2,100

29.6% YoY Growth

Home Price Trends — Independence, OH

As of Dec '25, the median home price in Independence, OH is $304,000, with a year-over-year change of 5.7%. This indicates that home prices in Independence, OH are increasing. According to Zillow, the 1-year price projection is 2.6%, suggesting an increase housing market in the next year.

Cost per Home Type

Home Type	Median Home Value	YoY % Change
All Homes	$304,000	5.7%
Single Family	$305,000	5.9%
Condos	$243,000	1.7%

Cost per Home Size

Home Size	Median Home Value	YoY % Change
1 Bed

Rental Trends — Independence, OH

As of July '25, Rentcast reports the average rent in Independence, OH is $2,090, with a year-over-year rent change of -27.4%. Per bedroom, the median rent as of July '25 in Independence, OH is studios: $2,020, 2-bedrooms: $1,100, 3-bedrooms: $2,320. The most common rental property sizes in Independence, OH are 3-bedroom and 4-bedroom, accounting for 69.2% and 14.0% of the rental stock.

Type	Median Rent	Average Rent
Average Rent	$2,020	$2,090
Studio Rent	$2,020	$2,020
1 Bed Rent	N/A	N/A
2 Bed Rent	$1,100	$1,100
3 Bed Rent	$2,100	$2,320
4 Bed Rent	N/A	N/A

Loading chart...

% of Rental Stock

1 Bedroom

12.8%

2 Bedrooms

4.0%

3 Bedrooms

69.2%

4 Bedrooms

14.0%

Property Listings — Independence, OH

As of Dec '25, Realtor.com reports that the median days on market for a home in Independence, OH is 37. This is a decrease of -22.0% from last year, suggesting that homes are sitting on the market shorter than last year. The percentage of listed homes with a reduced price is 21.0%, representing a small inventory and little supply pressure on home prices.

Metric	Zip Code Average	Year over Year % Change
Median Listing Price	$334,000	5.0%
Listing Count	45	21.0%
Listings as % of Homes	0.2%	21.0%
Days on Market	54	-23.0%

Loading chart...

Demographics — Independence, OH

As of the latest ACS Survey released in 2023, Independence, OH has a population of 20,600, which has remained stable by 0.4% over the past 5 years. Independence, OH is a moderately popular place for families, as children make up 17.5% of the population. The area has a moderately educated workforce, with 39.9% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 16.0% reporting working from home.

Metric	Latest Census	YoY % Change
Population	20,600	0.4%
% Under 18	17.5%	-1.7%
% Seniors	24.4%	2.5%
% WFH	16.0%	240.4%
% w/ College Degree	39.9%	3.6%

Loading chart...

As of the latest ACS Survey released in 2023, Independence, OH is a predominantly white area, with 89.4% of the population identifying as white. The white population has shrunk by 4.3% in the last 5 years. The second most common race or ethnicity in Independence, OH is hispanic, making up 3.7% of the population. Foreign-born residents account for 6.7% of the population in Independence, OH, and this percentage has decreased by 17.3% as of the ACS Survey 5 years prior, suggesting fewer immigrants are calling the area home.

Race and Ethnicity

Metric	Latest Census	5-Year % Change
% White	89.4%	-4.3%
% Black	1.3%	-31.6%
% Hispanic	3.7%	146.7%
% Asian	3.3%	43.5%
% Foreign Born	6.7%	-17.3%

Loading chart...

Mortgage and Risk — Independence, OH

According to HUD data as of 2023, there were 429 mortgage originations in Independence, OH, of which 90.0% of loans were conventional mortgages. The average loan-to-value was 53.0%, with 17.0% above 90% LTV (elevated). This implies medium mortgage risk in Independence, OH. Investor activity is low, as 0.0% of loans were by investors. 12.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.

Mortgages

Metric	Zip Code Average
Total Loan Originations	429
% Conventional Loans	90.0%
% Government Loans	10.0%
% Investor Loans	0.0%
% Second Loans	0.0%
% Cash Out Refinance	12.0%

Loading chart...

Rentals and Section 8 — Independence, OH

Independence, OH lacks sufficient Section 8 program data for analysis.

Section 8 Market Size

Total Units under HUD	5
Total Units Section 8	5
% Rentals under Section 8	0.7%
% Occupied Section 8	N/A

Section 8 Opportunity

Home Size	HUD Premium	Market Rent	Max HUD Rent
1 Bedroom	N/A	N/A	$1,430
2 Bedroom	$630	$1,100	$1,730
3 Bedroom	$120	$2,100	$2,220
4 Bedroom	N/A	N/A	$2,390

Independence, OH—44131

Key Metrics at a Glance

Home Price Trends — Independence, OH

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — Independence, OH

% of Rental Stock

Property Listings — Independence, OH

Demographics — Independence, OH

Race and Ethnicity

Mortgage and Risk — Independence, OH

Mortgages

Rentals and Section 8 — Independence, OH

Section 8 Market Size

Section 8 Opportunity

Affordability — Independence, OH

Home Price to Income Ratio

Independence, OH — ZIP Code Boundary Map

Nearby ZIP Codes

Garfield Heights, OH

Parma, OH

Broadview Heights, OH

Broadway-Slavic Village, Cleveland, OH

Old Brooklyn, Cleveland, OH

Frequently Asked Questions

Metric	Zip Code Average
Home Price to Income Ratio	2.6
Median Home Price	$304,000
Median Household Income	$98,800

Independence, OH—44131

Key Metrics at a Glance

Home Price Trends — Independence, OH

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — Independence, OH

% of Rental Stock

Property Listings — Independence, OH

Demographics — Independence, OH

Race and Ethnicity

Mortgage and Risk — Independence, OH

Mortgages

Rentals and Section 8 — Independence, OH

Section 8 Market Size

Section 8 Opportunity

Affordability — Independence, OH

Home Price to Income Ratio

Independence, OH — ZIP Code Boundary Map

Nearby ZIP Codes

Garfield Heights, OH

Parma, OH

Broadview Heights, OH

Broadway-Slavic Village, Cleveland, OH

Old Brooklyn, Cleveland, OH

Frequently Asked Questions

What is the average home price in Independence, OH 44131?

How have home prices in Independence, OH 44131 changed over the past year?

What is the home price projection for Independence, OH 44131?

What are the demographics of Independence, OH 44131?

How long does it take homes to sell in Independence, OH 44131?

What is the average rent price in Independence, OH 44131?