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Data on this report is based on areas within the legal city boundary, outlined in black on the map. Any additional neighborhoods shown on the map are associated with the city by name and are included for reference only.



Independence, OH Real Estate Market

Source & Methodology

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.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q4 2023. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2022 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Independence, OH Housing Market Trends

With 7,520 people, 3,012 houses or apartments, and a median cost of homes of $377,613, Independence real estate is some of the most expensive in Ohio, although Independence home values aren't among America's most expensive.

Single-family detached homes are the single most common housing type in Independence, accounting for 97.32% of the city's housing units. Other types of housing that are prevalent in Independence include row houses and other attached homes ( 1.47%).

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 94.14% of Independence's homes, and 83.72% have either three or four bedrooms, which is average sized relative to America.

At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. Independence's housing was primarily built during this period, from the '40s through the '60s. A full 42.91% of the city's housing hails from this era. Other housing ages represented in Independence include homes built between 1970-1999 ( 33.90%) and housing constructed before 1939 ( 12.81%). There's also some housing in Independence built between 2000 and later ( 10.39%).

Independence Home Appreciation Rates

Real estate appreciation rates in Independence's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 5.50% during the period.

NeighborhoodScout's data show that during the latest twelve months, Independence's appreciation rate, at 5.03%, has been at or slightly above the national average. In the latest quarter, Independence's appreciation rate has been -0.78%, which annualizes to a rate of -3.07%.

Notably, Independence's appreciation rate in the latest quarter is one of the lowest in America.

Relative to Ohio, our data show that Independence's latest annual appreciation rate is lower than 80% of the other cities and towns in Ohio.

Average Home Values

Median Home Value

$377,613

Independence, OH Home Prices
> $1,252,000
$940,001 - $1,252,000
$627,001 - $940,000
$501,001 - $627,000
$376,001 - $501,000
$251,001 - $376,000
$125,001 - $251,000
$63,001 - $125,000
$0 - $63,000
2.7%
2.7%
1.5%
1.5%
15.1%
15.1%
9.6%
9.6%
16.2%
16.2%
36.7%
36.7%
14.7%
14.7%
1.8%
1.8%
1.7%
1.7%
0% 100.0%
% of Homes
Very High

for Ohio

High

for nation

Number of Homes And Apartments:

3,012

Independence Appreciation Rates

Rent & Ownership

Average Market Rent:

$2,113 / per month

Homeownership Rate

Owners
Renters
94.1%
94.1%
5.9%
5.9%
0% 100.0%
% of Homes

Vacancy Rate

Vacant
Occupied
4.0%
4.0%
96.0%
96.0%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
10.4%
10.4%
33.9%
33.9%
42.9%
42.9%
12.8%
12.8%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
97.3%
97.3%
1.5%
1.5%
0.7%
0.7%
0.5%
0.5%
0.0%
0.0%
0.0%
0.0%
0% 100.0%
% of Homes

Home Size

No Bedroom
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 or more bedrooms
0.0%
0.0%
1.8%
1.8%
6.8%
6.8%
51.7%
51.7%
32.0%
32.0%
7.7%
7.7%
0% 100.0%
% of Homes

Popular Neighborhoods in Independence

Zip Codes in Independence, OH