Independence, KY
Population 29,024 · Kentucky
About Independence, KY
Independence is a mid-sized city located in Kentucky with a population of 29,024 residents according to the latest US Census Bureau American Community Survey data. The median household income is $98,653 per year, which is 31% above the national median of $75,149. The median age of 34.8 years is notably younger the US median age of 38.9 years, indicating a younger, often more dynamic population base.
Housing Market Overview
The housing market in Independence features a median home value of $240,500, which is 2% below the national median of $244,900. This positions Independence in a moderately priced market relative to the rest of the country. Median monthly rent is $1,204, 4% above the national average of $1,163/month. Of the 10,339 total housing units, 82% are owner-occupied (8,333 units) and 18% are renter-occupied (1,782 units). The high homeownership rate suggests a stable, established residential community.
Economy & Employment
The local economy in Independence shows an unemployment rate of 2.8%, which is lower than the national rate of 3.7%, indicating a relatively strong job market. The poverty rate stands at 8.5%, below the national average of 12.4%, reflecting generally favorable economic conditions. Workers in Independence have an average one-way commute time of 27.3 minutes.
Education & Demographics
37.3% of Independence residents aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. This is in line with national trends in educational attainment. The community's demographic composition includes 0.7% White, 0.6% Hispanic or Latino, 0.6% Black or African American, and 0.4% Asian residents, with 2.9% of the population being foreign-born.
How Independence Ranks in Kentucky
Cost of Living in Independence, KY
Compared to national averages, Independence has a median household income of $98,653 (31% above the national median of $75,149). Home values average $240,500, which is 2% below the national median. Monthly rent at $1,204 is 4% above the US average of $1,163. Within Kentucky, Independence's income is 49% above the state average of $66,273, and home values are 32% above the state median of $182,504.
Why Live in Independence, KY?
Independence offers a strong local economy with a median household income of $98,653, well above the national average, and affordable housing with a median home value of $240,500, below the US average of $244,900, and a strong job market with an unemployment rate of just 2.8%. Additionally, the city features a well-educated community where 37.3% of residents hold a bachelor’s degree or higher, and a low poverty rate of 8.5%, better than the national average.
Independence has a population of 29,024 with a median age of 34.8 years. Compare Independence with other cities to see how it stacks up, or explore all cities in Kentucky.
Similar Cities Near Independence
Cities in Kentucky with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Jeffersontown | 28,988 | $78,185 | $236,800 | Compare |
| Frankfort | 28,452 | $54,438 | $171,600 | Compare |
| Henderson | 27,994 | $47,176 | $151,400 | Compare |
| Hopkinsville | 31,011 | $47,428 | $140,200 | Compare |
| Paducah | 26,894 | $51,243 | $164,600 | Compare |
| Nicholasville | 31,625 | $67,514 | $210,700 | Compare |
| Elizabethtown | 31,870 | $56,250 | $223,200 | Compare |
| Florence | 32,334 | $68,508 | $196,200 | Compare |
Demographics
Racial & Ethnic Composition
Economy & Education
Housing
Other Cities in Kentucky
Data source: US Census Bureau ACS 5-Year Estimates. Last updated: 2026-04-05.
Compare Independence With Other Cities
Frequently Asked Questions about Independence
What is the population of Independence, KY?
The population of Independence, KY is 29,024 according to the latest US Census Bureau American Community Survey estimates. This makes it a mid-sized city in Kentucky.
What is the median household income in Independence?
The median household income in Independence, KY is $98,653 per year, which is 31% above the national median of $75,149.
What is the median home value in Independence?
The median home value in Independence, KY is $240,500, which is 2% below the national median of $244,900. The majority of housing units are owner-occupied.
What is the average rent in Independence?
The median monthly rent in Independence, KY is $1,204, which is 4% above the national average of $1,163/month.
What is the unemployment rate in Independence?
The unemployment rate in Independence, KY is 2.8%, compared to the national average of 3.7%. This lower-than-average rate suggests a relatively healthy local job market.
Is Independence, KY a good place to live?
Independence offers above-average incomes, affordable housing, and a strong job market. With a population of 29,024 and a median age of 34.8, the city appeals to young professionals and families.
How educated is Independence, KY?
37.3% of residents in Independence aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. This above-average educational attainment often reflects a knowledge-based local economy.
What is the cost of living in Independence?
Key cost-of-living indicators for Independence, KY: median home value is $240,500 (2% below national), median rent is $1,204/month, and median household income is $98,653. The home-value-to-income ratio is 2.4x, indicating relatively affordable housing relative to local incomes.
What is the poverty rate in Independence?
The poverty rate in Independence, KY is 8.5%, compared to the national average of 12.4%. This below-average poverty rate reflects generally favorable economic conditions in the community.
How diverse is Independence, KY?
Independence's population is 0.7% White, 0.6% Hispanic or Latino, 0.6% Black or African American, 0.4% Asian, and 1.7% two or more races. 2.9% of residents are foreign-born.