Independence, MN
Population 3,695 · Minnesota
About Independence, MN
Independence is a small town located in Minnesota with a population of 3,695 residents according to the latest US Census Bureau American Community Survey data. The median household income is $194,205 per year, which is 158% above the national median of $75,149. The median age of 45.9 years is notably older the US median age of 38.9 years, suggesting a more established community with a higher proportion of long-term residents.
Housing Market Overview
The housing market in Independence features a median home value of $757,800, which is 209% above the national median of $244,900. This places Independence in a higher-cost housing market, where property demand often outpaces supply. Median monthly rent is $3,500, 201% above the national average of $1,163/month. Of the 1,360 total housing units, 92% are owner-occupied (1,206 units) and 8% are renter-occupied (110 units). The high homeownership rate suggests a stable, established residential community.
Economy & Employment
The local economy in Independence shows an unemployment rate of 0.0%, which is lower than the national rate of 3.7%, indicating a relatively strong job market. The poverty rate stands at 0.5%, below the national average of 12.4%, reflecting generally favorable economic conditions. Workers in Independence have an average one-way commute time of 26.1 minutes.
Education & Demographics
62.9% of Independence residents aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. This significantly higher educational attainment rate often correlates with access to knowledge-economy jobs and higher household incomes. The community's demographic composition includes 2.2% White, 1.0% Hispanic or Latino, 0.0% Black or African American, and 0.0% Asian residents, with 4.2% of the population being foreign-born.
How Independence Ranks in Minnesota
Cost of Living in Independence, MN
Compared to national averages, Independence has a median household income of $194,205 (158% above the national median of $75,149). Home values average $757,800, which is 209% above the national median. Monthly rent at $3,500 is 201% above the US average of $1,163. Within Minnesota, Independence's income is 162% above the state average of $74,221, and home values are 271% above the state median of $204,472.
Why Live in Independence, MN?
Independence offers a strong local economy with a median household income of $194,205, well above the national average, and a strong job market with an unemployment rate of just 0.0%, and a well-educated community where 62.9% of residents hold a bachelor’s degree or higher. Additionally, the city features a low poverty rate of 0.5%, better than the national average.
Potential considerations include a competitive housing market where the typical home costs $757,800. However, Independence’s smaller community size offers a quieter lifestyle and tight-knit neighborhoods.
Independence has a population of 3,695 with a median age of 45.9 years. Compare Independence with other cities to see how it stacks up, or explore all cities in Minnesota.
Similar Cities Near Independence
Cities in Minnesota with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Pine Island | 3,693 | $91,612 | $324,700 | Compare |
| Long Prairie | 3,683 | $57,139 | $130,100 | Compare |
| Mora | 3,708 | $53,704 | $180,300 | Compare |
| Melrose | 3,608 | $58,107 | $198,300 | Compare |
| Two Harbors | 3,598 | $62,885 | $187,100 | Compare |
| Perham | 3,577 | $47,088 | $186,000 | Compare |
| St. Augusta | 3,576 | $116,384 | $323,400 | Compare |
| Deephaven | 3,835 | $175,441 | $854,000 | Compare |
Demographics
Racial & Ethnic Composition
Economy & Education
Housing
Other Cities in Minnesota
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, MN?
The population of Independence, MN is 3,695 according to the latest US Census Bureau American Community Survey estimates. This makes it a small town in Minnesota.
What is the median household income in Independence?
The median household income in Independence, MN is $194,205 per year, which is 158% above the national median of $75,149.
What is the median home value in Independence?
The median home value in Independence, MN is $757,800, which is 209% above 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, MN is $3,500, which is 201% above the national average of $1,163/month.
What is the unemployment rate in Independence?
The unemployment rate in Independence, MN is 0.0%, compared to the national average of 3.7%. This lower-than-average rate suggests a relatively healthy local job market.
Is Independence, MN a good place to live?
Independence offers above-average incomes, a competitive housing market, and a strong job market. With a population of 3,695 and a median age of 45.9, the city appeals to established professionals and retirees.
How educated is Independence, MN?
62.9% 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, MN: median home value is $757,800 (209% above national), median rent is $3,500/month, and median household income is $194,205. The home-value-to-income ratio is 3.9x, a moderate figure by national standards.
What is the poverty rate in Independence?
The poverty rate in Independence, MN is 0.5%, 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, MN?
Independence's population is 2.2% White, 1.0% Hispanic or Latino, 0.0% Black or African American, 0.0% Asian, and 1.4% two or more races. 4.2% of residents are foreign-born.