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City · 10,199 residents · Polk County, Oregon

Independence , Oregon

In Independence, a typical home is worth $378,800 and typical rent is $1,665 a month. Compared with all of Polk County, typical rent is 28% higher, the typical home value is 17% lower, and the share of households that own their home is 10 points lower.

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  • Typical home value

    $378,800

    17% below the county

    21% below Oregon

    • Independence
    • Polk
    • Oregon

  • Typical rent

    $1,665a month

    28% above the county

    9% above Oregon

    • Independence
    • Polk
    • Oregon

  • Typical household income

    $85,375a year

    About the same as the county

    3% above Oregon

    • Independence
    • Polk
    • Oregon

  • Households that own their home

    55%

    10 points below the county

    9 points below Oregon

    • Independence
    • Polk
    • Oregon

Source: U.S. Census Bureau, Average 2020–2024

Market now, with Zillow data

Zillow data
Typical home value
$421,354
1.8% more than 12 months ago
Typical rent
$1,932 a month
1.1% more than 12 months ago

From Zillow (ZHVI/ZORI), September 2026. The Census figures above are 5-year averages (2020–2024).

Independence is in Polk County. The FHA loan limit ($541,287 for a one-unit home), the fair market rents and the help on this page are those of all of Polk County. See the county

Data updated: October 1, 2026 11 official sources

Only here

What sets Independence apart

What this place has that others do not, from public data, most unusual first.

  1. Nearby, in Monmouth, the typical rent is $1,114: 33% less than in Independence ($1,665).

  2. The typical rent in Independence is $1,665 a month, 28% more than in Polk County as a whole ($1,299).

  3. The typical home in Independence is worth $378,800, 17% less than in Polk County as a whole ($454,700).

  4. 55% of households in Independence own their home, against 65% in Polk County.

Sources: U.S. Census Bureau (Average 2020–2024).

The homes here

Housing in Independence

What homes there are in Independence, what they cost, how that changed and how people live, from Census figures (2020–2024).

What homes there are

U.S. Census Bureau, ACS 5-year, 2020–2024

Kind of home

In Independence, 6 in 10 homes are single-family detached houses; in Polk County, 7.

Year built

Here half of the homes date from 1999 or later; in Polk County, from 1990 or later.

All homes, occupied or empty. A figure the Census cannot measure precisely enough here is not shown.

Census tables: B25024, B25034, B25035, B25041

What it costs here

U.S. Census Bureau, ACS 5-year, 2020–2024

Value of owner-occupied homes
Monthly rent with utilities

With a mortgage

$1,947 a month

Polk County: $2,095 a month

Without a mortgage

$521 a month

Polk County: $633 a month

Owners with a mortgage

64%

Polk County: 65%

The typical cost for an owner with a mortgage in Independence is $1,947 a month, less than in Polk County ($2,095); without one, $521.

Value: what owners think their home is worth. Rent: rent plus utilities, for homes of every size. The FHA limit is the most an FHA loan (Federal Housing Administration) lends for a one-unit home; the fair market rent (FMR) is the one HUD uses for housing vouchers.

Census tables: B25075, B25063, B25088, B25081

How it changed

U.S. Census Bureau, ACS 5-year, 2015–2019 and 2020–2024

Change since 2015–2019

Since 2015–2019, homes in Independence gained value faster than in Polk County: 85% against 72%.

The typical rent in Independence rose 59% over the same time; in Polk County, it rose 31%.

The typical household income in Independence rose 59% over that time; home values changed +85% and rent +59%.

Change between two 5-year periods that do not overlap, in each period's dollars, not adjusted for inflation.

Census tables: B25077, B25064, B19013

How people live

U.S. Census Bureau, ACS 5-year, 2020–2024

MeasureIndependencePolk CountyOregonUnited States
Rental vacancy Unreliable estimate4.5%4.2%5.5%
Homeowner vacancy Unreliable estimateUnreliable estimate0.7%0.9%
More than one person per room Unreliable estimate3.3%3.2%3.4%
People per household 3.222.652.422.53
Drive alone 73%67%65%69%
Carpool 11%10%9%9%
Public transit Unreliable estimateUnreliable estimate2%3%
Walk or bike Unreliable estimate4%5%3%
Work from home 13%18%19%15%
Other means Unreliable estimate1%1%2%
Typical commute 20 to 29 minutes20 to 29 minutes20 to 29 minutes20 to 29 minutes

On average, a household in Independence has 3.22 people, more than in Polk County (2.65).

To get to work, 73% of workers in Independence drive alone; in Polk County, 67%.

Vacancy: empty homes offered for rent or for sale. Rooms: every room in the home, not only bedrooms. Commute: the minute range of the typical worker.

Census tables: B25004, B25003, B25014, B25010, B08301, B08303

Do the math

What would you pay each month for a home in Independence?

A typical home costs more than the typical income allows

We start with a typical home in Independence, worth $378,800, an FHA loan with 3.5% down and the latest average rate (7.18%). That payment would take 44% of the typical household income in Independence, which is $85,375 a year. For that payment to be 28% of income, a household would need to earn about $134,781 a year.

The calculator's FHA and conventional loan limits are those of all of Polk County.

Your numbers

Local data
$

Starts at the typical home value in Independence. Change it to the price you have in mind.

Loan type
Your credit score

Your score changes which loans apply and FHA's minimum down payment. Your real rate also depends on your credit.

Down payment
%

That is $13,258 (3.5% of the price). The usual minimum for this loan is 3.5%.

This week's average ± a quarter or half point.

Term

National average as of November 5, 2026 (Freddie Mac); your rate may be different.

Adjust advanced details

Estimated monthly payment

Local data

$3,145

at 7.18% · 30 years

Loan amount
$371,939
Total interest
$535,133
Paid off in
November 2056

Includes $6,397 FHA upfront mortgage insurance premium.

Does it fit the income?

  • Comfortable

    up to $1,992 a month

  • Tight

    $1,992 to $2,561 a month

  • Hard

    more than $2,561 a month

    Your payment · 44%

Compared with the typical household income in Independence ($85,375 a year). Reference: HUD calls paying more than 30% of income for housing a cost burden.

Show the result as
per month$3,145
Principal & interest$2,520
Property tax$300
Home insurance$158
FHA mortgage insurance (MIP)$168

You need at least $13,258 for the down payment, plus closing costs.

Next step

This is an estimate to give you an idea, not a loan offer. Your real payment depends on your rate, your credit, and the insurance and taxes on the home you buy.

The city and its county

Independence and Polk County

Independence is in Polk County, Oregon. The U.S. Census Bureau publishes its own numbers for the city: home values, rent, household income, how many households own their home and the property tax. They are American Community Survey estimates (average 2020–2024).

Independence's own numbers

Typical home value
$378,800
Typical monthly rent
$1,665
Typical yearly household income
$85,375
Households that own their home
55%
Effective property tax rate
0.95%

U.S. Census Bureau, American Community Survey (average 2020–2024).

Numbers for all of Polk County

FHA limit, one-unit home
$541,287
Conventional limit, one unit
$832,750
HUD fair market rent, 2 bedrooms
$1,692
Price change over 5 years (FHFA)
+44%
Homes in a high flood-risk zone
2.9%

HUD, FHFA and FEMA don't publish these numbers by city.

Other numbers are not published by city, only for the whole county: FHA and conventional loan limits, HUD’s fair market rents, FHFA’s price index and FEMA’s flood data. On this page, those numbers always say they are for all of Polk County.

Everything about Polk County

Buying

Buying a home in Independence

A typical home in Independence is worth $378,800: 17% below the county and 21% below Oregon. With the typical household income in Independence ($85,375 a year), a typical home costs 4.4 times what the household earns in a year.

Years of income to pay for a typical home

The typical home value divided by the typical household income for one year. The lower it is, the less buying weighs.

  • Independence 4.4 years
  • Polk 5.3 years
  • Oregon 5.8 years
  • United States 4.1 years
Source: U.S. Census Bureau, Average 2020–2024

How prices have changed in Polk County

According to FHFA’s house price index, home prices in Polk County rose 113% in the 10 years through 2025.

FHFA does not publish this index by city: these are the numbers for all of Polk County.

Period County Oregon U.S.
Last year (2025) +2.8% +0.9% +2.9%
5 years (2020–2025) +44% +35% +47%
10 years (2015–2025) +113% +86% +85%

The index follows the price of the same homes over time (sales and appraisals with Fannie Mae and Freddie Mac loans). It is not the average price of a home. FHFA considers its annual county indexes experimental. Source: FHFA, 2025 data

Independence next to Polk County, Oregon and the U.S.

Three numbers side by side. “Typical” means the median: half are above it and half below.

Typical home value
  • Independence $378,800
  • Polk $454,700
  • Oregon $477,600
  • United States $332,700
Typical monthly rent
  • Independence $1,665
  • Polk $1,299
  • Oregon $1,525
  • United States $1,413
Typical yearly household income
  • Independence $85,375
  • Polk $85,118
  • Oregon $83,011
  • United States $80,734
See the full table
Independence next to Polk County and Oregon
Measure Independence Polk County Oregon U.S.
Typical home value $378,800 $454,700 $477,600 $332,700
Typical monthly rent $1,665 $1,299 $1,525 $1,413
Typical yearly household income $85,375 $85,118 $83,011 $80,734
Households that own their home 55% 65% 63% 65%
Typical yearly property tax $3,617 $3,634 $3,876 $3,119
Effective property tax rate 0.95% 0.8% 0.81% 0.94%
Renters with high rent for their income 48% 52% 52% 51%

“Typical” means the median: half are above and half are below. ▲ and ▼ say whether the city is above or below Polk County. “High rent” is the Census measure: renter households that pay 30% or more of their income in rent.

Four ways to pay for a typical home in Independence

For a typical $378,800 home in Independence, at Freddie Mac's average rate (7.18% as of November 5, 2026) over 30 years. The monthly payment adds principal and interest, Independence's typical property tax, an example home insurance and mortgage insurance when it applies.

  • FHA, 3.5% down $3,145a month

    Least cash to close
    Down payment
    $13,258
    Cash to close
    $24,622
    Rate
    7.18%
    Mortgage insurance
    FHA MIP · $168

  • Conventional, 5% down $3,075a month

    Down payment
    $18,940
    Cash to close
    $30,304
    Rate
    7.18%
    Mortgage insurance
    PMI · $180

  • Conventional, 20% down, no PMI $2,511a month

    Down payment
    $75,760
    Cash to close
    $87,124
    Rate
    7.18%
    Mortgage insurance
    None

  • ITIN, 15% down (example) $2,861a month

    Down payment
    $56,820
    Cash to close
    $68,184
    Rate
    8.18%
    Mortgage insurance
    None

The option that asks for the least cash to close is FHA, 3.5% down.

  • Cash to close = down payment plus 3% of the price in closing costs (example).
  • Minimum score: FHA requires 580 or higher for the minimum down payment (HUD Handbook 4000.1). * Fannie Mae requires 620 when a loan is underwritten by hand; its automated system has no fixed minimum.
  • The ITIN row is an example with a rate 1 percentage point higher: ITIN loans follow no federal rule and each lender sets its own down payment and rate. Nothing in this table promises an approval.

How much house can I afford? Estimate closing costs

Taxes and floods

Two costs that change from place to place

Property tax and flood insurance raise or lower what you pay each month. Here are the numbers for Independence and for Polk County.

Property tax

Effective rate in Independence

0.95%of the home’s value each year

$3,617 a year for the typical owner in Independence.

  • Independence 0.95%
  • Polk 0.8%
  • Oregon 0.81%

What Oregon publishes 3 percent cap on maximum assessed value (Measure 50) (Oregon Legislature (Oregon Revised Statutes))

Exemptions and deadlines in Oregon

Flood risk in Polk County

FEMA does not publish these numbers by city: they are for all of Polk County.

Homes in the high-risk zone
2.9%
869
Of those, with NFIP insurance
30%
County Oregon U.S.
Homes in the high-risk zone 2.9% 2.8% 3.5%
Of those, with NFIP insurance 30% 25% 48%

Most homeowners insurance policies do not cover flood damage.

Look up your address on FEMA’s map

Renting

Renting in Independence

Typical rent in Independence is $1,665 a month: 28% above the county. In Independence, 48% of renter households pay 30% or more of their income in rent.

HUD publishes a fair market rent for all of Polk County, by unit size. To pay the 2-bedroom one ($1,692 a month) without spending more than 30% of your income, you would need to earn $32.54 an hour working full time.

HUD fair market rent for all of Polk County

What you need to earn to pay it without spending more than 30% of income, working full time.

Size Fair rent a month Hourly wage Yearly income
Studio $1,285 $24.71 $51,400
1 bedroom $1,294 $24.88 $51,760
2 bedrooms $1,692 $32.54 $67,680
3 bedrooms $2,341 $45.02 $93,640
4 bedrooms $2,564 $49.31 $102,560

Includes basic utilities. It isn't the lowest or highest rent: it's a reference point. Source: HUD, Fiscal year 2027

By ZIP code

Fair market rent by ZIP code in Independence

HUD also publishes a fair market rent for each ZIP code (Small Area FMR, fiscal year 2027). Independence is in ZIP code 97351.

For 2 bedrooms it is $1,970: $278 more than the fair market rent for Polk County ($1,692).

  • 97351 $1,970$2,730

1 of these ZIP codes crosses the city line: HUD sets the rent by ZIP code, not by city. A ZIP code counts for Independence when at least 50% of its land is inside the city or it covers at least 15% of the city (Census 2020 boundaries). Source: Small Area Fair Market Rents (HUD) Fiscal year 2027 Small Area Fair Market Rents (HUD) Source: Census Bureau ZCTA-to-place relationship file Data from 2020 data Census Bureau ZCTA-to-place relationship file

Is your rent high for your ZIP?

Low-income apartments

Low-income apartments in Independence

HUD lists one building with rents for lower incomes in Independence.

  • Colonia Amistad 30 S Gun Club Rd, Independence 97351 38 homes, 37 low-income · 2 bd: 15 · 3 bd: 19 · 4 bd: 4 · In service since 2007 · For families

See all 11 buildings in Polk County Source: HUD, Retrieved November 6, 2026

Free help

Help to buy or rent in Independence

You do not have to do this alone. A HUD-approved housing counseling agency helps for free or at low cost: getting ready to buy, understanding your credit, or solving a problem with your rent.

We found no HUD-approved agencies with an office in Polk County. The nearest ones are below; many serve by phone or online.

A man shakes hands with the specialist who helped him with his loan, in the kitchen of his new home.

HUD counseling is free or low-cost

Assistance programs in Independence

No down payment, repair or rent-help program on our list is for Independence or Polk County. The ones below are statewide in Oregon: they work in Independence the same as in the rest of the state.

Which programs do I qualify for? All programs in Oregon

  • OHCS Down Payment Assistance

    Statewide in Oregon

    Oregon state funds for the down payment and closing costs, delivered by local organizations: up to $60,000 or 20% of the price, sometimes as a grant or as a forgivable second mortgage, for first-time or first-generation buyers with income up to 100% of the area median. Offered by Oregon Housing and Community Services (OHCS).

    GrantForgivable

    See the program Official page

  • FirstHome (Flex Lending)

    Statewide in Oregon

    Oregon Housing and Community Services mortgage for low- and moderate-income first-time buyers, with down payment assistance of 4% or 5% of the loan as a second mortgage. Offered by Oregon Housing and Community Services (OHCS).

    Type not stated

    See the program Official page

  • NextStep (Flex Lending)

    Statewide in Oregon

    Oregon Housing and Community Services mortgage for any buyer, including people who have owned a home before, with down payment assistance of 4% or 5% of the loan as a second mortgage that can be forgivable or repayable. Offered by Oregon Housing and Community Services (OHCS).

    Type not stated

    See the program Official page

Housing counselors near Independence

The HUD-approved agencies closest to the center of Independence, in a straight line, nearest first. If one says it serves in Spanish, its card says so.

  • DevNW

    528 Cottage St NE Ste 304, Salem · 10 miles away · Spanish

    • Mortgage delinquency and default
    • Mortgage delinquency workshops
    • and 7 more
    (503) 779-2680

  • DevNW

    2525 SE 3rd St, Corvallis · 22 miles away · Spanish

    • Mortgage delinquency and default
    • Mortgage delinquency workshops
    • and 7 more
    (541) 752-7220

  • Housing Authority of Yamhill County

    135 NE Dunn Pl, McMinnville · 24 miles away · Spanish

    • Mortgage delinquency and default
    • Budget and financial counseling
    • and 5 more
    (503) 883-4300

All counseling agencies in Oregon

Help in Spanish near Independence

3 of the 3 agencies on this list say they serve in Spanish.

Ask for service in Spanish

When you call, say “Spanish, please” or ask if someone speaks Spanish. If not, ask whether they offer an interpreter.

Housing authorities of Independence

HUD’s record names them for Independence or Polk County. They run public housing or Section 8 vouchers. Ask whether their waiting list is open.

  • Housing and Urban Renewal Agency of Polk County Public housing and Section 8 vouchers (503) 623-8387

All housing agencies in Oregon Source: HUD

Cities

Other cities in Polk County

These cities are also in Polk County. They share its loan limits and fair market rents, but home values and rent change from one to the next.

Everything about Polk County Housing in Oregon

Nearby cities

The cities closest to Independence, with the typical home value.

Neighboring counties

If Polk County is out of reach, look next door. Each number is that county's own.

Keep going

Guides for your next step

Short explanations, in plain language and with official sources, for buying or renting in Independence.

All guides
A father holds his baby and his young son by a white picket fence.

Questions

Housing questions about Independence

Short answers with the numbers for Independence and all of Polk County. If your case is different, a HUD-approved counseling agency can guide you for free or at low cost.

How much does a typical home cost in Independence?

The typical home value in Independence is $378,800, according to the U.S. Census Bureau (average 2020–2024). For comparison, in Polk County it is $454,700.

How much does it cost to rent in Independence?

Typical rent in Independence is $1,665 a month, according to the U.S. Census Bureau. HUD’s fair market rent for 2 bedrooms in Polk County is $1,692.

What is the FHA loan limit in Independence?

Independence uses the FHA limit for all of Polk County (2026): $541,287 for a one-unit home and $1,041,125 for a four-unit home.

How much property tax do owners pay in Independence?

The typical homeowner in Independence pays $3,617 a year, according to the U.S. Census Bureau. That is 0.95% of the home’s value; in Polk County, the rate is 0.8%.

Where can I find free help to buy or rent in Independence?

We found no HUD-approved counseling agencies with an office in Polk County; the nearest ones are on this page. They can help you get ready to buy, with your credit, or with rent.

Sources: American Community Survey (ACS) 5-year estimates (Average 2020–2024); FHA mortgage limits (HUD) (2026 data); Conforming loan limits (FHFA) (2026 data); Fair Market Rents (HUD) (Fiscal year 2027); Small Area Fair Market Rents (HUD) (Fiscal year 2027); Census Bureau ZCTA-to-place relationship file (2020 data); HUD-approved housing counseling agencies (Retrieved November 6, 2026); Public Housing Agencies (HUD) (Retrieved November 6, 2026); Freddie Mac Primary Mortgage Market Survey (PMMS) (As of November 5, 2026); FHFA House Price Index (HPI) (2025 data); Homes with flood insurance (NFIP, FEMA) (As of August 3, 2026).