Independence, MO—64058
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 $246,000, with a year-over-year change of 2.4%. This indicates that home prices in Independence, MO are increasing. According to Zillow, the 1-year price projection is 1.6%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $246,000 | 2.4% |
| Single Family | $246,000 | 2.1% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $191,000 | 6.7% |
3 Bed | $238,000 | 2.1% |
4 Bed | $315,000 | 1.3% |
| 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 $1,540, with a year-over-year rent change of 8.5%. Per bedroom, the median rent as of July '25 in Independence, MO is 2-bedrooms: $1,160, 3-bedrooms: $1,600, 4-bedrooms: $1,600. The most common rental property sizes in Independence, MO are 3-bedroom and 2-bedroom, accounting for 80.9% and 19.1% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,420 | $1,540 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | N/A | N/A |
| 2 Bed Rent | $1,050 | $1,160 |
| 3 Bed Rent | $1,420 | $1,600 |
| 4 Bed Rent | $1,600 | $1,600 |
% 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 43. This is a decrease of -4.0% 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 33.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $250,000 | -7.0% |
Listing Count | 24 | 14.0% |
| Listings as % of Homes | 0.8% | 14.0% |
Days on Market | 43 | -4.0% |
Demographics — Independence, MO
As of the latest ACS Survey released in 2023, Independence, MO has a population of 6,610, which has decreased by -7.4% over the past 5 years. Independence, MO is a popular place for families, as children make up 25.9% of the population. The area has a poorly educated workforce, with 18.1% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 10.7% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 6,610 | -7.4% |
% Under 18 | 25.9% | -8.2% |
% Seniors | 15.1% | 6.3% |
% WFH | 10.7% | 214.7% |
% w/ College Degree | 18.1% | 7.7% |
As of the latest ACS Survey released in 2023, Independence, MO is a predominantly white area, with 91.4% of the population identifying as white. The white population has grown by 4.2% in the last 5 years. The second most common race or ethnicity in Independence, MO is hispanic, making up 3.9% of the population. Foreign-born residents account for 3.0% of the population in Independence, MO, and this percentage has increased by 66.7% 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 | 91.4% | 4.2% |
% Black | 0.8% | -86.7% |
% Hispanic | 3.9% | 178.6% |
% Asian | 1.0% | -9.1% |
% Foreign Born | 3.0% | 66.7% |
Mortgage and Risk — Independence, MO
According to HUD data as of 2023, there were 125 mortgage originations in Independence, MO, of which 66.0% of loans were conventional mortgages. The average loan-to-value was 73.0%, with 42.0% 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. 11.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 125 |
% Conventional Loans | 66.0% |
% Government Loans | 34.0% |
% Investor Loans | 2.0% |
% Second Loans | 2.0% |
% Cash Out Refinance | 11.0% |
Loan Activity
Rentals and Section 8 — Independence, MO
Independence, MO lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 37 |
Total Units Section 8 | 37 |
% Rentals under Section 8 | 7.0% |
% Occupied Section 8 | 88.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | N/A | N/A | $1,130 |
| 2 Bedroom | $240 | $1,050 | $1,290 |
| 3 Bedroom | $260 | $1,420 | $1,680 |
| 4 Bedroom | $390 | $1,600 | $1,990 |
Affordability — Independence, MO
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3 |
| Median Home Price | $246,000 |
| Median Household Income | $74,700 |