Independence, OR—97351
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Independence, OR
As of Oct '25, the median home price in Independence, OR is $422,000, with a year-over-year change of 0.8%. This indicates that home prices in Independence, OR are flat. According to Zillow, the 1-year price projection is 0.6%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $422,000 | 0.8% |
| Single Family | $423,000 | 1.2% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $342,000 | 0.9% |
3 Bed | $415,000 | 1.0% |
4 Bed | $450,000 | 0.7% |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Independence, OR
As of July '25, Rentcast reports the average rent in Independence, OR is $1,720, with a year-over-year rent change of -16.5%. Per bedroom, the median rent as of July '25 in Independence, OR is studios: $1,500, 1-bedrooms: $1,340, 2-bedrooms: $1,640, 3-bedrooms: $1,970, 4-bedrooms: $1,840. The most common rental property sizes in Independence, OR are 2-bedroom and 3-bedroom, accounting for 54.7% and 31.2% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,580 | $1,720 |
| Studio Rent | $1,500 | $1,500 |
| 1 Bed Rent | $1,200 | $1,340 |
| 2 Bed Rent | $1,520 | $1,640 |
| 3 Bed Rent | $2,000 | $1,970 |
| 4 Bed Rent | $1,580 | $1,840 |
% of Rental Stock
Property Listings — Independence, OR
As of Oct '25, Realtor.com reports that the median days on market for a home in Independence, OR is 45. This is a decrease of -9.0% 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 27.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $444,000 | -5.0% |
Listing Count | 37 | -17.0% |
| Listings as % of Homes | 0.8% | -17.0% |
Days on Market | 45 | -9.0% |
Demographics — Independence, OR
As of the latest ACS Survey released in 2023, Independence, OR has a population of 11,400, which has increased by 7.5% over the past 5 years. Independence, OR is a moderately popular place for families, as children make up 24.5% of the population. The area has a poorly educated workforce, with 24.7% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 12.7% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 11,400 | 7.5% |
% Under 18 | 24.5% | -16.4% |
% Seniors | 11.3% | 16.5% |
% WFH | 12.7% | 605.6% |
% w/ College Degree | 24.7% | 14.9% |
As of the latest ACS Survey released in 2023, Independence, OR is a predominantly white area, with 56.6% of the population identifying as white. The white population has shrunk by 10.2% in the last 5 years. The second most common race or ethnicity in Independence, OR is hispanic, making up 35.7% of the population. Foreign-born residents account for 8.5% of the population in Independence, OR, and this percentage has decreased by 28.6% 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 | 56.6% | -10.2% |
% Black | 0.4% | 100.0% |
% Hispanic | 35.7% | 4.7% |
% Asian | 0.8% | 166.7% |
% Foreign Born | 8.5% | -28.6% |
Mortgage and Risk — Independence, OR
According to HUD data as of 2023, there were 158 mortgage originations in Independence, OR, of which 71.0% of loans were conventional mortgages. The average loan-to-value was 63.0%, with 30.0% above 90% LTV (very high). This implies large mortgage risk in Independence, OR. Investor activity is low, as 2.0% of loans were by investors. 13.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 158 |
% Conventional Loans | 71.0% |
% Government Loans | 29.0% |
% Investor Loans | 2.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 13.0% |
Loan Activity
Rentals and Section 8 — Independence, OR
As of 2024, the percent of homes in Independence, OR under the Section 8 program is 10.2%. 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, OR, 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 | 169 |
Total Units Section 8 | 140 |
% Rentals under Section 8 | 10.2% |
% Occupied Section 8 | 66.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $170 | $1,200 | $1,370 |
| 2 Bedroom | $240 | $1,520 | $1,760 |
| 3 Bedroom | $450 | $2,000 | $2,450 |
| 4 Bedroom | $1,080 | $1,580 | $2,660 |
Affordability — Independence, OR
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 4.7 |
| Median Home Price | $422,000 |
| Median Household Income | $84,700 |