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 1,644 people, 788 houses or apartments, and a median cost of homes of $191,011, 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 81.57% of the town's housing units. Other types of housing that are prevalent in Independence include mobile homes or trailers ( 9.75%), duplexes, homes converted to apartments or other small apartment buildings ( 8.26%).
The most prevalent building size and type in Independence are three and four bedroom dwellings, chiefly found in single-family detached homes. The town has a mixture of owners and renters, with 62.56% owning and 37.44% renting.
There is a lot of housing in Independence built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Independence built between 1940-1969 ( 33.37%). A lesser amount of the housing stock also hails from between 2000 and later ( 17.90%). There's also some housing in Independence built before 1939 ( 15.25%).
Vacant housing appears to be an issue in Independence. Fully 16.53% 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 51.60%, which is annualized rate of 4.25%. 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 3.75%, 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 14.82%, which equates to an annual appreciation rate of 73.80%.
Importantly, this makes Independence one of the highest appreciating communities in the nation for the latest quarter, and may signal the town's near-future real estate investment strength.
Relative to Louisiana, our data show that Independence's latest annual appreciation rate is higher than 70% of the other cities and towns in Louisiana.
$191,011
for Louisiana
for nation
788
$1,164 / per month