Analytics built by: Location, Inc.
Raw data sources: American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data
With a population of 8,436, 3,732 total housing units (homes and apartments), and a median house value of $161,785, house prices in Independence are solidly below the national average.
Single-family detached homes are the single most common housing type in Independence, accounting for 80.07% of the city's housing units. Other types of housing that are prevalent in Independence include large apartment complexes or high rise apartments ( 13.14%), mobile homes or trailers ( 3.77%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 2.15%).
Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Independence. Owner-occupied housing accounts for 68.77% of Independence's homes, and 57.32% have either three or four bedrooms, which is average sized relative to America.
The housing in Independence was primarily built before 1939 ( 36.24%), making the housing stock in Independence some of the oldest overall in America, although there is a range of ages of homes in Independence. The next most important housing age is between 1970-1999 ( 30.40%), followed by between 1940-1969 ( 28.94%). There's also some housing in Independence built between 2000 and later ( 4.42%).
Vacant housing appears to be an issue in Independence. Fully 18.78% of the housing stock is classified as vacant. Left unchecked, vacant Independence homes and apartments can be a drag on the real estate market, holding Independence real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.
Some of the lowest real estate appreciation rates in America over the last ten years have been in Independence, where house values have increased just 46.44%, which is annualized rate of 3.89%. This rate is lower than the appreciation rate found in 90% of the cities and towns in America.
Over the last year, Independence appreciation rates have trailed the rest of the nation. In the last twelve months, Independence's appreciation rate has been 2.35%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Independence were at 4.94%, which equates to an annual appreciation rate of 21.27%.
Importantly, this makes Independence one of the highest appreciating communities in the nation for the latest quarter, and may signal the city's near-future real estate investment strength.
Relative to Kansas, our data show that Independence's latest annual appreciation rate is lower than 90% of the other cities and towns in Kansas.
$161,785
for Kansas
for nation
3,732
$1,252 / per month