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These days, finding an affordable place to live in the Independence area can be challenging. Home prices in Independence are now at a median cost of $189,586, lower than the Tennessee average of $315,131.
The average cost of rent is $736/mo in Independence, primarily driven by the current value of real estate in the Independence area. In Independence, 16.90% of households rent, and 87.67% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Independence is $3,135 per month. Households that rent pay about 23.47% of their income on rent here. Independence’s most expensive areas are in the southern regions, while the cheapest areas are in the northeastern parts of the city.
Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.
Nearby Cities
- Willis, TN: less expensive homes
- Surgoinsville, TN: equally priced homes
- Stony Point, TN: equally priced homes
- Eidson, TN: higher priced homes
- Camelot, TN: less expensive homes
- Blackwater, VA: less expensive homes
- Honeycutt, TN: equally priced homes
- Kyles Ford, TN: less expensive homes
- Christian Bend, TN: equally priced homes
- Rogersville, TN: less expensive homes
Cities with Similar Populations
- Woodstock, NH: higher priced homes
- Goodrich, ND: less expensive homes
- Goodson, MO: less expensive homes
- Gorum, LA: less expensive homes
- Gowdy, IN: higher priced homes
- Grace, SC: higher priced homes
- Grandin, FL: less expensive homes
- Grantsdale, MT: higher priced homes
- Wright, IA: less expensive homes
- Wymer, WV: equally priced homes
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