Is Independence expensive to live in?

Independence is considered very affordable, with a cost index of 90 compared to the US average of 100. Living here costs about 10% less than the national average. The median monthly rent is $1,313, and the median household income is $59,480.

What salary do you need to live comfortably in Independence?

Using the standard 30% rent-to-income rule, you need at least $52,520/year to afford median rent in Independence. The median household income is $59,480, giving a rent-to-income ratio of 26%. Financial experts recommend keeping rent below 30% of gross income.

What is the average rent in Independence?

The median rent in Independence is $1,313 per month. Housing costs score 76 against the national average of 100, meaning housing is 24% cheaper than the US average.

How does Independence compare to the national average cost of living?

Independence's overall cost index is 90 vs the national average of 100. Breaking it down: housing (76), food & groceries (88), transportation (86), utilities (83), and healthcare (93). Independence is below average in most categories, making it a strong value destination.

Is Independence, Missouri a good place to live?

Independence has a population of 120,922 and a median household income of $59,480. With a cost index of 90, it offers strong affordability relative to the national average. The rent-to-income ratio is 26%, which is within healthy financial guidelines.

What are the cheapest cities near Independence?

To find the most affordable cities near Independence in Missouri, use the Livably city comparison tool or browse the Missouri state page. You can compare rent, cost index, income, and affordability side by side across all tracked cities.

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Independence

Monthly city intelligence across housing costs, tax load, and affordability signals to help you plan your next move with clearer numbers.

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Cost index: 90

Median rent: $1,313

Median income: $59,480

Cost Index

0/ 100 avg

Population

Median Income

Median Rent

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12mo Trend

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About Independence

Living in Independence, Missouri

Independence, Missouri is a growing city with a population of approximately 120,922. The overall cost of living index sits at 90, which is below the national average of 100. This means everyday expenses — housing, groceries, transportation, and healthcare — are roughly 10% less expensive compared to the typical U.S. city.

Housing is the largest cost driver in Independence. Median rent is $1,313 per month, while the median home price is $203,383. At a median household income of $59,480, rent consumes roughly 26% of gross income, which remains manageable relative to local incomes. The housing sub-index of 76 reflects well below-average housing expenses.

Beyond housing, healthcare is the most elevated non-shelter expense in Independence with a sub-index of 93, while utilities is comparatively more affordable at 83. State-level taxes also shape the true cost of living: Missouri applies a 4.80% income tax rate, and property tax averages 0.88% of assessed home value. The combined sales tax rate is 8.34%. Local income tax may apply in some municipalities.

Over the past twelve months, the cost of living in Independence has trended downward. Among the 4 tracked cities in Missouri, Independence ranks #2 from most to least affordable. Whether you're evaluating a job offer, planning a relocation, or comparing salary purchasing power, these numbers give a grounded, data-backed view of what life in Independence actually costs.

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