Disclaimer: Covid-19 may have impacted rent prices in a way that is not yet reflected in our reports. When referencing the data published on this page, please keep in mind that the data provided here may not accurately depict the current reality of the market.
Independence, KY Rental Market Trends
What is the average rent in Independence?
The average rent for an apartment in Independence is $1,061, a 11% increase compared to the previous year, when the average rent was $955.
Average Rent in Independence, KY
Last updated April 2021
| Average Rent | Y-o-Y Change | Average Apartment Size |
|---|---|---|
| $1,061 | 11% | 1,084 sq. ft. |
What is the average apartment size in Independence?
The average size for a Independence, KY apartment is 1,084 square feet, but this number varies greatly depending on unit type, with cheap and luxury alternatives for houses and apartments alike. Studio apartments are the smallest and most affordable, 1-bedroom apartments are closer to the average, while 2-bedroom apartments and 3-bedroom apartments offer a more generous square footage.
Independence, KY Apartment Rent Ranges
- $701-$1,00058%
- $1,001-$1,50026%
- $1,501-$2,00016%
Independence, KY Occupied Housing Units
- Renter-occupied Households24%
- Owner-occupied Households75%
2,294 or 24% of the households in Independence, KY are renter-occupied while 7,140 or 75% are owner-occupied.
Independence, KY Rent Trends
| Average Rent | Mar / 2018 | Jul / 2018 | Nov / 2018 | Mar / 2019 | Jul / 2019 | Nov / 2019 | Mar / 2020 | Jul / 2020 | Nov / 2020 | Apr / 2021 |
|---|---|---|---|---|---|---|---|---|---|---|
| Independence, KY | $872 | $872 | $888 | $933 | $946 | $962 | $955 | $990 | $1,037 | $1,061 |
| National | $1,317 | $1,348 | $1,357 | $1,361 | $1,393 | $1,400 | $1,401 | $1,391 | $1,393 | $1,399 |
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How Independence Compares to Other Cities
| Average Rent | Y-o-Y Change | |
|---|---|---|
| Cincinnati | $1,028 | 2% |
| Louisville | $1,002 | 2% |
| Lexington | $955 | 4% |
| Florence | $1,010 | 6% |
| Covington | $1,109 | -1% |
| West Chester | $1,278 | 2% |
| Erlanger | $872 | 8% |
| Newport | $1,059 | 4% |
| Ft Mitchell | $868 | 2% |
| Amelia | $749 | 2% |
| Independence | $1,061 | 11% |
Most Popular Apartments in Independence
The rental statistics on this page were compiled using data provided by our sister company, Yardi Matrix, an apartment market intelligence solution which offers comprehensive information on all Independence apartment buildings 50 units or larger. Yardi Matrix covers ~80% of the U.S. metro area population, including over 80,000 properties and 15.2 million apartments across 124 U.S. markets.