States › Iowa › Independence

Is Independence, IA expensive to live in?

CheapRent takes 14 cents of every $1 people earn here.
🏠 Rent per month (2026)$90748% lower than U.S. average
💵 Families earn per year (2026)$79,600about $6,633/month · 9% lower than U.S. average
🔑 House price$165,30050% lower than U.S. average

Rent here is among the lowest 10% of all U.S. cities. A typical house costs under 3 years of household income, which is easy by U.S. standards.

How much money do I need?

To rent here comfortably, you should earn about $36,280 a year. That is $17 an hour at a full-time job.

Is rent cheaper than other Iowa cities?

Yes. Rent here is cheaper than in most of Iowa. It is number 22 of 86 cities from cheapest to most expensive.

Independence
$907
Maquoketa
$879
Polk City
$865
Asbury
$1,683
Orange City
$850
Adel
$1,024
Estherville
$834

How much do households earn in Independence?

Under $25k
15.4%
$25k–50k
21.6%
$50k–100k
42.2%
$100k–150k
14.0%
$150k+
4.0%

Share of households by yearly income. 18.1% of households earn $100,000 or more.

Rent by apartment size in Independence

SizeIndependenceU.S. average
1 bedroom$656$1,324
2 bedrooms$951$1,509
3 bedrooms$1,181$1,698

Median monthly rent plus utilities for all renters, by number of bedrooms.

How expensive is Independence overall?

Everyday prices in Iowa overall are 12% below the U.S. average (index 87.8, U.S. = 100).

Housing
65
Goods (food, clothes…)
94
Utilities
83
Other services
93
U.S. average
100

Source: U.S. Bureau of Economic Analysis, Regional Price Parities 2024. City-level data is not published for Independence, so the Iowa figure is shown.

Taxes and bills in Independence

🏛️ Property tax$2,722a year · 1.65% of home value · U.S. $3,119
⚡ Electric bill$142a month (typical) · U.S. $156

Life in Independence

Commute to work20.3 minU.S.: 26.4 min
College degree24.7%U.S.: 35.7%
Own their home72.2%U.S.: 65.2%
Below poverty line7.6%U.S.: 12.5%
Unemployment2.3%U.S.: 5.2%

Is it cheaper to rent or buy in Independence?

Renting is cheaper right now: about $240 a month less.

Renting
$907
Owning
$1,147

Owning assumes a typical $165,300 home, 10% down, a 30-year loan at 6.5% and about 1.5% a year for taxes and insurance. You would also need $16,530 for the down payment.

Frequently asked questions

What is the average rent in Independence, IA?

Renting in Independence costs a median of about $907 a month in 2026, including utilities. The Iowa median is $1,071.

How much do I need to make to live in Independence?

To keep rent under 30% of income, you need about $36,280 a year, or $17 an hour at a full-time job.

Is Independence cheap or expensive?

Independence is rated Cheap: rent takes 13.7% of the typical household income of $79,600. It ranks 22nd cheapest of 86 Iowa cities we track.

How much are property taxes in Independence?

The median homeowner in Independence pays $2,722 a year in property taxes, about 1.65% of the median home value.

Is Independence more expensive than the national average?

Overall prices in Iowa are 12% below the U.S. average, according to the U.S. Bureau of Economic Analysis.

How much does a house cost in Independence?

The median home value in Independence is $165,300, about 2.1 times the typical yearly household income.

6,164 people live in Independence. Numbers are typical (middle) values.