Independence, MO—64050
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 $167,000, with a year-over-year change of 0.3%. This indicates that home prices in Independence, MO are flat. 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 | $167,000 | 0.3% |
| Single Family | $167,000 | 0.6% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $98,000 | 0.0% |
2 Bed | $135,000 | 0.0% |
3 Bed | $178,000 | 0.6% |
4 Bed | $215,000 | 1.4% |
| 5 Bed | $241,000 | 1.3% |
% of Housing Stock
Rental Trends — Independence, MO
As of July '25, Rentcast reports the average rent in Independence, MO is $1,190, with a year-over-year rent change of 4.4%. Per bedroom, the median rent as of July '25 in Independence, MO is studios: $720, 1-bedrooms: $810, 2-bedrooms: $1,010, 3-bedrooms: $1,450, 4-bedrooms: $1,770. The most common rental property sizes in Independence, MO are 2-bedroom and 1-bedroom, accounting for 50.0% and 23.3% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,100 | $1,190 |
| Studio Rent | $695 | $720 |
| 1 Bed Rent | $775 | $810 |
| 2 Bed Rent | $995 | $1,010 |
| 3 Bed Rent | $1,400 | $1,450 |
| 4 Bed Rent | $1,700 | $1,770 |
% 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 49. 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 32.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $192,000 | 4.0% |
Listing Count | 75 | -4.0% |
| Listings as % of Homes | 0.6% | -4.0% |
Days on Market | 49 | -4.0% |
Demographics — Independence, MO
As of the latest ACS Survey released in 2023, Independence, MO has a population of 20,500, which has decreased by -9.7% over the past 5 years. Independence, MO is a moderately popular place for families, as children make up 17.9% of the population. The area has a poorly educated workforce, with 15.0% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 5.7% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 20,500 | -9.7% |
% Under 18 | 17.9% | -23.8% |
% Seniors | 20.3% | 12.2% |
% WFH | 5.7% | 200.0% |
% w/ College Degree | 15.0% | 59.6% |
As of the latest ACS Survey released in 2023, Independence, MO is a predominantly white area, with 71.7% of the population identifying as white. The white population has shrunk by 6.2% in the last 5 years. The second most common race or ethnicity in Independence, MO is hispanic, making up 11.0% of the population. Foreign-born residents account for 4.5% of the population in Independence, MO, and this percentage has increased by 28.6% 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 | 71.7% | -6.2% |
% Black | 7.3% | -16.1% |
% Hispanic | 11.0% | 39.2% |
% Asian | 0.8% | -27.3% |
% Foreign Born | 4.5% | 28.6% |
Mortgage and Risk — Independence, MO
According to HUD data as of 2023, there were 363 mortgage originations in Independence, MO, of which 69.0% of loans were conventional mortgages. The average loan-to-value was 75.0%, with 50.0% above 90% LTV (very high). This implies large mortgage risk in Independence, MO. Investor activity is low, as 7.0% 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 | 363 |
% Conventional Loans | 69.0% |
% Government Loans | 31.0% |
% Investor Loans | 7.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 12.0% |
Loan Activity
Rentals and Section 8 — Independence, MO
As of 2024, the percent of homes in Independence, MO under the Section 8 program is 12.8%. 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. 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 | 982 |
Total Units Section 8 | 604 |
% Rentals under Section 8 | 12.8% |
% Occupied Section 8 | 90.5% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $215 | $775 | $990 |
| 2 Bedroom | $145 | $995 | $1,140 |
| 3 Bedroom | $90 | $1,400 | $1,490 |
| 4 Bedroom | $40 | $1,700 | $1,740 |
Affordability — Independence, MO
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.2 |
| Median Home Price | $167,000 |
| Median Household Income | $46,600 |