Independence, MO—64056
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 $222,000, with a year-over-year change of 2.8%. 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 | $222,000 | 2.8% |
| Single Family | $222,000 | 3.3% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $181,000 | 5.2% |
3 Bed | $218,000 | 3.3% |
4 Bed | $296,000 | 1.7% |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Independence, MO
As of July '25, Rentcast reports the average rent in Independence, MO is $1,590, with a year-over-year rent change of 7.4%. Per bedroom, the median rent as of July '25 in Independence, MO is 1-bedrooms: $895, 2-bedrooms: $1,030, 3-bedrooms: $1,660, 4-bedrooms: $1,890. The most common rental property sizes in Independence, MO are 3-bedroom and 2-bedroom, accounting for 45.6% and 25.3% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,600 | $1,590 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $895 | $895 |
| 2 Bed Rent | $1,050 | $1,030 |
| 3 Bed Rent | $1,650 | $1,660 |
| 4 Bed Rent | $1,840 | $1,890 |
% 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 40. This is a increase of 10.0% 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 47.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $267,000 | 9.0% |
Listing Count | 77 | 60.0% |
| Listings as % of Homes | 0.7% | 60.0% |
Days on Market | 40 | 10.0% |
Demographics — Independence, MO
As of the latest ACS Survey released in 2023, Independence, MO has a population of 17,600, which has increased by 4.3% over the past 5 years. Independence, MO is a popular place for families, as children make up 31.6% of the population. The area has a poorly educated workforce, with 19.6% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 11.7% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 17,600 | 4.3% |
% Under 18 | 31.6% | 1.3% |
% Seniors | 12.0% | 12.1% |
% WFH | 11.7% | 254.5% |
% w/ College Degree | 19.6% | 34.2% |
As of the latest ACS Survey released in 2023, Independence, MO is a predominantly white area, with 69.3% of the population identifying as white. The white population has shrunk by 8.1% in the last 5 years. The second most common race or ethnicity in Independence, MO is black, making up 14.0% of the population. Foreign-born residents account for 2.6% of the population in Independence, MO, and this percentage has decreased by 3.7% 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 | 69.3% | -8.1% |
% Black | 14.0% | 45.8% |
% Hispanic | 7.9% | -16.8% |
% Asian | 0.9% | 125.0% |
% Foreign Born | 2.6% | -3.7% |
Mortgage and Risk — Independence, MO
According to HUD data as of 2023, there were 335 mortgage originations in Independence, MO, of which 67.0% of loans were conventional mortgages. The average loan-to-value was 70.0%, with 41.0% above 90% LTV (very high). This implies large mortgage risk in Independence, MO. Investor activity is low, as 3.0% 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 | 335 |
% Conventional Loans | 67.0% |
% Government Loans | 33.0% |
% Investor Loans | 3.0% |
% Second Loans | 0.0% |
% 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 35.0%. This is considered high, suggesting that the neighborhood is heavily composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. In Independence, MO, all tracked home sizes have HUD payment amounts above market rent, suggesting strong Section 8 opportunity across the board.
Section 8 Market Size
Total Units under HUD | 807 |
Total Units Section 8 | 807 |
% Rentals under Section 8 | 35.0% |
% Occupied Section 8 | 87.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $305 | $895 | $1,200 |
| 2 Bedroom | $310 | $1,050 | $1,360 |
| 3 Bedroom | $120 | $1,650 | $1,770 |
| 4 Bedroom | $260 | $1,840 | $2,100 |
Affordability — Independence, MO
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 2.9 |
| Median Home Price | $222,000 |
| Median Household Income | $68,700 |