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Independence, MN
Full City Profile · Minnesota · Hennepin County County
3.9
/5.0
B+
Good
3,695
Population
114/sq mi density
$194,205
Median Income
$94,243 per capita
$757,800
Home Value
$770,525 Zillow
$3,500
Median Rent
50.0% income on rent
45°F
Avg Temperature
258 sunny days/yr
22
Violent Crime/100K
736 property/100K
B+
Overall
3.9 / 5.0
Good overall score based on economy, affordability, safety and education
A+
Economy
5.0 / 5.0
$194,205 median income, 0.0% unemployment
A
Affordability
4.5 / 5.0
$757,800 home value, $3,500/mo rent
F
Safety
1.0 / 5.0
22 violent crimes/100K
A+
Education
5.0 / 5.0
62.9% bachelor's degree or higher
Housing Overview
Median Home Value
$757,800
169% above
US avg: $281,900
Median Rent
$3,500/mo
201% above
US avg: $1,163/mo
Homeownership Rate
91.6%
40% above US avg (65.4%)
Total Housing Units
1,244
Median year built: 1987
Home Value by Source
Census Median
$757,800
Zillow (ZHVI)
$770,525
Median Sale Price
$845,000
Median List Price
$1,599,100
Census ACS, Zillow ZHVI, Redfin median sale price
Ownership vs. Renting
91.6%
Owner-Occupied
8.4%
Renter-Occupied
US avg: 65.4% owner-occupied
Fair Market Rents (HUD FY2026)
Studio
$809/mo
1 Bedroom
$899/mo
2 Bedroom
$1,125/mo
3 Bedroom
$1,483/mo
4 Bedroom
$1,698/mo
Census median rent:
$3,500/mo
Market Indicators (Redfin)
Median Days on Market
141 days
Sale-to-List Ratio
1.0%
Buyers market
Homes Sold
3
Price Drops
0.0%
of listings with price reduction
Price Per Sq Ft
$346
Active Inventory
12
homes for sale
Affordability & Housing Stock
Rent Burden
50.0%
of renters spending 30%+ of income on housing
61% above US avg (31.0%)
Median Year Built
1987
Average age of housing stock: 39 years
Homeownership Rate
91.6%
Complete Housing Data
Home Values
| Census Median Value | $757,800 |
| Zillow Home Value (ZHVI) | $770,525 |
| Median Sale Price | $845,000 |
| Median List Price | $1,599,100 |
| Price Per Sq Ft | $346 |
Rent
| Census Median Rent | $3,500 |
| FMR Studio | $809 |
| FMR 1-Bedroom | $899 |
| FMR 2-Bedroom | $1,125 |
| FMR 3-Bedroom | $1,483 |
| FMR 4-Bedroom | $1,698 |
Market
| Days on Market | 141 |
| Sale-to-List Ratio | 1.0% |
| Price Drops | 0.0% |
| Homes Sold | 3 |
| Active Inventory | 12 |
| Price Per Sq Ft | $346 |
Ownership & Stock
| Owner-Occupied | 91.6% |
| Renter-Occupied | 8.4% |
| Homeownership Rate | 91.6% |
| Total Housing Units | 1,244 |
| Median Year Built | 1987 |
| Rent Burden | 50.0% |