Quick facts: Independence, KY

Quick Facts

99.8
Cost of Living
below US average
29,326
Population
4.3
Crime Rate per 1000
below US average
$92,355
Median Income
above US average
$384,490
Median House Price
above US average
$1761.25
Average Rent
above US average
6%
Poverty Rate
below US average
4.2%
Unemployment Rate
above US average

πŸ’΅ Affordability Calculator

Based on the 28/36 rule: housing costs should not exceed 28% of your gross income. Compared against local median income of $92,355.

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Income Needed to Buy

βœ— Stretch
$121k/year
Based on $384,490 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $121k vs median $92,355
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Income Needed to Rent

βœ“ Affordable
$75k/year
Based on $1761.25/month average rent
Annual income where rent = 28% of gross
πŸ“Š Median income ($92,355) exceeds requirement
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Independence, KY

Independence is a vibrant city located in northern Kentucky, primarily in Kenton County. As part of the Cincinnati metropolitan area, it serves as a suburban enclave that blends small-town charm with proximity to urban amenities. The city boasts a friendly community atmosphere, making it an appealing place for families and individuals alike. The area features a variety of parks, recreational facilities, and educational institutions, enhancing the quality of life for its residents. Popular spots include the Independence Pavilion, which hosts various events and activities throughout the year. Additionally, there are numerous shopping and dining options, providing convenience for daily needs and leisure activities. Independence is well-connected by major roadways, making it easy for residents to commute to nearby cities like Covington and Cincinnati. The local economy is supported by a mix of retail, service, and light manufacturing industries, contributing to its steady growth. Overall, Independence, KY, is characterized by a blend of community spirit, accessibility, and recreational opportunities, ideal for those seeking a suburban lifestyle with easy access to urban resources.

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