salaryRent is higher than in 58% of U.S. cities. A typical house costs under 3 years of household income, which is easy by U.S. standards. Most homes (83.8%) are owned, so rentals can be hard to find.
How much money do I need?
To rent here comfortably, you should earn about $72,280 a year. That is $35 an hour at a full-time job.
Is rent cheaper than other Kentucky cities?
No. Rent here is more expensive than in most of Kentucky. It is number 83 of 87 cities from cheapest to most expensive.
How much do households earn in Independence?
Share of households by yearly income. 37.7% of households earn $100,000 or more.
Rent by apartment size in Independence
| Size | Independence | U.S. average |
|---|---|---|
| 1 bedroom | $963 | $1,324 |
| 2 bedrooms | $1,306 | $1,509 |
| 3 bedrooms | $1,459 | $1,698 |
| 4 bedrooms | $2,319 | $2,098 |
Median monthly rent plus utilities for all renters, by number of bedrooms.
How expensive is Independence overall?
Everyday prices in Kentucky overall are 10% below the U.S. average (index 90.2, U.S. = 100).
Source: U.S. Bureau of Economic Analysis, Regional Price Parities 2024. City-level data is not published for Independence, so the Kentucky figure is shown.
Taxes and bills in Independence
Life in Independence
Is it cheaper to rent or buy in Independence?
About the same. Renting and owning cost within $23 of each other each month.
Owning assumes a typical $263,700 home, 10% down, a 30-year loan at 6.5% and about 1.5% a year for taxes and insurance. You would also need $26,370 for the down payment.
Frequently asked questions
What is the average rent in Independence, KY?
Renting in Independence costs a median of about $1,807 a month in 2026, including utilities. The Kentucky median is $1,175.
How much do I need to make to live in Independence?
To keep rent under 30% of income, you need about $72,280 a year, or $35 an hour at a full-time job.
Is Independence cheap or expensive?
Independence is rated Cheap: rent takes 19.6% of the typical household income of $110,396. It ranks 83rd cheapest of 87 Kentucky cities we track.
How much are property taxes in Independence?
The median homeowner in Independence pays $2,527 a year in property taxes, about 0.96% of the median home value.
Is Independence more expensive than the national average?
Overall prices in Kentucky are 10% 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 $263,700, about 2.4 times the typical yearly household income.
29,392 people live in Independence. Numbers are typical (middle) values.