Cost of Living in Independence, Missouri
In Independence, the median household income is $60,339 and the median gross rent is $1,109/mo, with a median home value of $172,900. Source: Census Bureau ACS, 2020-2024 estimates.
- Median household income
- $60,339
- Median gross rent
- $1,109/mo
- Median home value
- $172,900
- Population
- 121,740
How Independence compares to the Missouri average
| Measure | Independence, MO | Missouri statewide | Difference |
|---|---|---|---|
| Median household income | $60,339 | $70,702 | -14.7% |
| Median gross rent (monthly) | $1,109 | $1,033 | +7.4% |
| Median home value | $172,900 | $230,300 | -24.9% |
Statewide, Missouri prices average 90.8 on the BEA Regional Price Parity index (2024), where the U.S. average is 100.
Housing affordability in Independence
- Salary needed for median rent
- $44,360
- Rent burden at median income
- 22.1%
- Est. affordable home price
- $220,113
So that $1,109/mo is 30% of gross income
Share of the median household income spent on median rent (30%+ = cost-burdened)
At median income, 6.67% 30-yr rate (FRED, 2026-08), 20% down, 28% front-end DTI
The median home value in Independence is $172,900 — within what the median household income supports under these assumptions.
Estimates from documented formulas — see methodology. Not financial advice.
Cost of living in other Missouri cities
About this data
- American Community Survey 5-Year Estimates — data period 2020-2024, retrieved August 13, 2026.
- Regional Price Parities — data period 2024, retrieved August 13, 2026.
- Federal Reserve Economic Data — data period 2026-08, retrieved August 13, 2026.
Figures are shown exactly as published by the source or derived by the documented formulas on our methodology page. Where a source suppresses an estimate, we show “—” rather than a substitute value.