Independence, MO—64057
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 $284,000, with a year-over-year change of 1.4%. 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 | $284,000 | 1.4% |
| Single Family | $285,000 | 1.4% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $215,000 | 3.4% |
3 Bed | $261,000 | 1.2% |
4 Bed | $344,000 | 0.9% |
| 5 Bed | $425,000 | 1.0% |
% of Housing Stock
Rental Trends — Independence, MO
As of July '25, Rentcast reports the average rent in Independence, MO is $1,770, with a year-over-year rent change of -1.7%. Per bedroom, the median rent as of July '25 in Independence, MO is 1-bedrooms: $1,130, 2-bedrooms: $1,520, 3-bedrooms: $1,790, 4-bedrooms: $2,240. The most common rental property sizes in Independence, MO are 2-bedroom and 1-bedroom, accounting for 45.8% and 27.6% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,700 | $1,770 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $1,180 | $1,130 |
| 2 Bed Rent | $1,500 | $1,520 |
| 3 Bed Rent | $1,700 | $1,790 |
| 4 Bed Rent | $2,300 | $2,240 |
% 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 50. This is a increase of 12.0% 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 | $315,000 | -6.0% |
Listing Count | 51 | 54.0% |
| Listings as % of Homes | 0.5% | 54.0% |
Days on Market | 50 | 12.0% |
Demographics — Independence, MO
As of the latest ACS Survey released in 2023, Independence, MO has a population of 14,500, which has remained stable by 0.5% over the past 5 years. Independence, MO is a moderately popular place for families, as children make up 19.5% of the population. The area has a moderately educated workforce, with 28.5% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 11.4% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 14,500 | 0.5% |
% Under 18 | 19.5% | -3.5% |
% Seniors | 23.5% | 10.3% |
% WFH | 11.4% | 153.3% |
% w/ College Degree | 28.5% | 2.5% |
As of the latest ACS Survey released in 2023, Independence, MO is a predominantly white area, with 74.1% of the population identifying as white. The white population has shrunk by 6.8% in the last 5 years. The second most common race or ethnicity in Independence, MO is black, making up 14.4% of the population. Foreign-born residents account for 2.1% of the population in Independence, MO, and this percentage has decreased by 46.2% 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 | 74.1% | -6.8% |
% Black | 14.4% | 87.0% |
% Hispanic | 3.7% | -54.3% |
% Asian | 2.2% | 266.7% |
% Foreign Born | 2.1% | -46.2% |
Mortgage and Risk — Independence, MO
According to HUD data as of 2023, there were 221 mortgage originations in Independence, MO, of which 69.0% of loans were conventional mortgages. The average loan-to-value was 64.0%, with 37.0% 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 | 221 |
% Conventional Loans | 69.0% |
% Government Loans | 31.0% |
% Investor Loans | 2.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 11.0% |
Loan Activity
Rentals and Section 8 — Independence, MO
As of 2024, the percent of homes in Independence, MO under the Section 8 program is 4.9%. 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, none of the tracked home sizes currently have HUD payment amounts above market rent, suggesting limited Section 8 opportunity.
Section 8 Market Size
Total Units under HUD | 153 |
Total Units Section 8 | 117 |
% Rentals under Section 8 | 4.9% |
% Occupied Section 8 | 87.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$40 | $1,180 | $1,140 |
| 2 Bedroom | -$200 | $1,500 | $1,300 |
| 3 Bedroom | $0 | $1,700 | $1,700 |
| 4 Bedroom | -$290 | $2,300 | $2,010 |
Affordability — Independence, MO
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.7 |
| Median Home Price | $284,000 |
| Median Household Income | $71,400 |