Independence, MO—64055
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Independence, MO
As of Oct '25, the median home price in Independence, MO is $218,000, with a year-over-year change of 2.0%. This indicates that home prices in Independence, MO are increasing. According to Zillow, the 1-year price projection is 1.7%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $218,000 | 2.0% |
| Single Family | $222,000 | 1.8% |
| Condos | $169,000 | 3.0% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $174,000 | 3.6% |
3 Bed | $218,000 | 1.9% |
4 Bed | $285,000 | 1.1% |
| 5 Bed | $340,000 | 1.8% |
% of Housing Stock
Rental Trends — Independence, MO
As of July '25, Rentcast reports the average rent in Independence, MO is $1,420, with a year-over-year rent change of -1.4%. Per bedroom, the median rent as of July '25 in Independence, MO is 1-bedrooms: $938, 2-bedrooms: $1,190, 3-bedrooms: $1,700, 4-bedrooms: $1,900. The most common rental property sizes in Independence, MO are 2-bedroom and 1-bedroom, accounting for 37.1% and 29.5% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,400 | $1,420 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $875 | $938 |
| 2 Bed Rent | $1,200 | $1,190 |
| 3 Bed Rent | $1,740 | $1,700 |
| 4 Bed Rent | $1,800 | $1,900 |
% of Rental Stock
Property Listings — Independence, MO
As of Oct '25, Realtor.com reports that the median days on market for a home in Independence, MO is 48. This is a increase of 23.0% 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 36.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $240,000 | -2.0% |
Listing Count | 167 | 32.0% |
| Listings as % of Homes | 0.5% | 32.0% |
Days on Market | 48 | 23.0% |
Demographics — Independence, MO
As of the latest ACS Survey released in 2023, Independence, MO has a population of 36,100, which has increased by 7.3% over the past 5 years. Independence, MO is a moderately popular place for families, as children make up 22.6% of the population. The area has a poorly educated workforce, with 23.9% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 11.9% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 36,100 | 7.3% |
% Under 18 | 22.6% | 23.5% |
% Seniors | 21.7% | -4.4% |
% WFH | 11.9% | 230.6% |
% w/ College Degree | 23.9% | -3.2% |
As of the latest ACS Survey released in 2023, Independence, MO is a predominantly white area, with 71.4% of the population identifying as white. The white population has shrunk by 11.7% in the last 5 years. The second most common race or ethnicity in Independence, MO is black, making up 12.6% of the population. Foreign-born residents account for 3.5% of the population in Independence, MO, and this percentage has decreased by 31.4% 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 | 71.4% | -11.7% |
% Black | 12.6% | 90.9% |
% Hispanic | 10.2% | 50.0% |
% Asian | 1.3% | -45.8% |
% Foreign Born | 3.5% | -31.4% |
Mortgage and Risk — Independence, MO
According to HUD data as of 2023, there were 694 mortgage originations in Independence, MO, of which 73.0% of loans were conventional mortgages. The average loan-to-value was 69.0%, with 39.0% above 90% LTV (very high). This implies large mortgage risk in Independence, MO. Investor activity is low, as 2.0% of loans were by investors. 14.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 694 |
% Conventional Loans | 73.0% |
% Government Loans | 27.0% |
% Investor Loans | 2.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 14.0% |
Loan Activity
Rentals and Section 8 — Independence, MO
As of 2024, the percent of homes in Independence, MO under the Section 8 program is 7.8%. 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 and 2-bedroom and 4-bedroom units appear to be good home sizes to consider for Section 8 housing in Independence, MO, because HUD payments exceed market rent, while 3-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 523 |
Total Units Section 8 | 379 |
% Rentals under Section 8 | 7.8% |
% Occupied Section 8 | 91.6% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $185 | $875 | $1,060 |
| 2 Bedroom | $10 | $1,200 | $1,210 |
| 3 Bedroom | -$160 | $1,740 | $1,580 |
| 4 Bedroom | $70 | $1,800 | $1,870 |
Affordability — Independence, MO
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.1 |
| Median Home Price | $218,000 |
| Median Household Income | $64,600 |