Independence is considered moderately affordable in 2025, with average rent for a 2-bedroom apartment at $1,450 and slightly lower grocery costs compared to the national average.
As of 2025, the median home price in Independence is $325,000, requiring a gross monthly income of around $6,500 to comfortably afford with a 20% down payment. Renting a 2-bedroom apartment averages $1,450 per month, translating to a recommended gross income of $4,350.
Housing Costs in Independence
Independence offers a mix of housing options, from apartments and townhomes to single-family houses. Newer developments on the outskirts tend to have larger homes and higher price points, while the city center has more affordable and established neighborhoods.
Typical housing costs in Independence as of 2025:
- 2-bedroom apartment: $1,300 – $1,600/month
- 3-bedroom house: $1,800 – $2,400/month
- Median home price: $325,000
Some neighborhoods have optional HOA fees ranging from $100-300 per month. When budgeting for a home purchase, aim to put 20% down and keep the mortgage payment under 28% of your gross monthly income for a comfortable financial cushion.
Utilities and Energy Bills
Basic utility costs in Independence are on par with the national average. Expect to pay around $150-200 per month for electricity, water, gas, and trash for a 2-bedroom apartment. High summer temperatures can drive up cooling costs in July and August.
| Utility | Typical Monthly Cost |
|---|---|
| Electricity | $80 – $120 |
| Water | $30 – $50 |
| Gas | $30 – $50 |
| Trash | $20 – $30 |
Groceries and Daily Expenses
Grocery costs in Independence are about 5% lower than the U.S. average. Budget around $300-350 per person for a typical month of groceries and household items. A gallon of milk runs about $3.50 and a loaf of bread $2.25.
Dining out costs are reasonable, with a meal at a casual restaurant averaging $12-15 per person. A morning latte goes for about $4.50.
Taxes and Fees
Independence has a property tax rate of 0.978%, slightly below the national average of 1.07%. For a home assessed at $325,000, annual property taxes would be around $3,180.
Kentucky has a 6% sales tax statewide. Vehicle registration fees are $21 per year. There is no local income tax in Independence.
Monthly Budget Summary
| Household | Gross Monthly Income | Estimated Expenses |
|---|---|---|
| Single person | $3,500 – $4,000 | $2,100 – $2,500 |
| Couple | $5,500 – $6,500 | $3,400 – $4,000 |
| Family of 4 | $7,500 – $8,500 | $4,800 – $5,500 |
These estimates include housing, utilities, groceries, dining out, and typical lifestyle expenses. Health insurance, childcare, and discretionary costs like travel are extra. Hiring movers can add $1,000+ to your budget when relocating to Independence.
Lifestyle Considerations
Commuting to downtown Cincinnati takes about 20-25 minutes in normal traffic. Many Independence residents work in the city while enjoying a quieter suburban lifestyle and lower housing costs.
Newer homes on the edges of Independence offer more space but longer commutes. Older neighborhoods closer in are more walkable to parks, schools and local businesses. Consider your priorities for convenience, home size, and community amenities when choosing where to live.
Frequently Asked Questions
What salary do you need to live comfortably in Independence?
For a couple, a combined gross income of $5,500 – $6,500 per month allows for a comfortable lifestyle in Independence with room for savings and discretionary spending.
Is Independence cheaper than Cincinnati?
Yes, the cost of living in Independence is about 10% lower than in Cincinnati proper, mainly due to more affordable housing options.
Are utilities expensive in Independence?
Utility costs in Independence are typical for the region, with monthly bills for a 2-bedroom averaging $150-200. Budget extra for summer cooling.
How much is the average rent in Independence?
As of 2025, average rent for a 2-bedroom apartment in Independence is $1,450 per month. Rents range from $1,300 at the low end up to $1,600 for newer units.
What is the median home price in Independence?
The median price for a single-family home in Independence is $325,000 in 2025. With a 20% down payment, aim for a gross monthly income of $6,500+ to comfortably afford a median-priced home.