salaryIndependence is the 5th-largest city in Missouri that we track, with 121,740 residents. Rent is lower than in 61% of 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 $57,920 a year. That is $28 an hour at a full-time job.
Is rent cheaper than other Missouri cities?
No. Rent here is more expensive than in most of Missouri. It is number 92 of 142 cities from cheapest to most expensive.
How much do households earn in Independence?
Share of households by yearly income. 15.9% of households earn $100,000 or more.
Rent by apartment size in Independence
| Size | Independence | U.S. average |
|---|---|---|
| Studio | $803 | $1,338 |
| 1 bedroom | $1,019 | $1,324 |
| 2 bedrooms | $1,194 | $1,509 |
| 3 bedrooms | $1,522 | $1,698 |
| 4 bedrooms | $1,827 | $2,098 |
Median monthly rent plus utilities for all renters, by number of bedrooms.
How expensive is Independence overall?
Everyday prices in Missouri overall are 9% below the U.S. average (index 90.8, U.S. = 100).
Source: U.S. Bureau of Economic Analysis, Regional Price Parities 2024. City-level data is not published for Independence, so the Missouri figure is shown.
Taxes and bills in Independence
Life in Independence
Is it cheaper to rent or buy in Independence?
Buying is cheaper month to month: about $248 a month less than renting.
Owning assumes a typical $172,900 home, 10% down, a 30-year loan at 6.5% and about 1.5% a year for taxes and insurance. You would also need $17,290 for the down payment.
Frequently asked questions
What is the average rent in Independence, MO?
Renting in Independence costs a median of about $1,448 a month in 2026, including utilities. The Missouri median is $1,285.
How much do I need to make to live in Independence?
To keep rent under 30% of income, you need about $57,920 a year, or $28 an hour at a full-time job.
Is Independence cheap or expensive?
Independence is rated OK: rent takes 26.7% of the typical household income of $65,076. It ranks 92nd cheapest of 142 Missouri cities we track.
How much are property taxes in Independence?
The median homeowner in Independence pays $1,914 a year in property taxes, about 1.11% of the median home value.
Is Independence more expensive than the national average?
Overall prices in Missouri are 9% 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 $172,900, about 2.7 times the typical yearly household income.
121,740 people live in Independence. Numbers are typical (middle) values.