Cost of Living in Independence, MN
Population 3,695 · Minnesota · Data vintage 2023
(100 = US avg)
Independence's housing market reflects its status as a high-earning metro: $758,000 for a typical home, 148% above the US median, paired with household incomes around $194,205 that put it in the upper third of the state. An unemployment rate of 0.0% points to a labor market well on the tight side of the national distribution.
Geographically, Independence sits roughly 20 miles west of Minneapolis. Median home values run roughly 119% higher than Minneapolis' $346,000.
Cost Overview
Scale: 100 = US national average. Green < 90, Red > 110.
About the Cost of Living in Independence
The median home value in Independence is $757,800 — 148% above the national median of $305,000. Median rent runs $3,500/month, 166% higher than the national median of $1,314/month. The median household income of $194,205/year is 160% higher than the US median of $74,580. The local unemployment rate is 0.0%, below the national average of 4.8%. Minnesota's top state income tax rate is 9.8% and the combined sales tax is 7.4%. Overall, Independence has a cost of living index of 256 versus the US average of 100, meaning it is 156% more expensive.
Independence has limited residential data
Detailed housing and income data is limited for this location. Here are the nearest cities with full cost of living data:
🏠 Housing
HUD Fair Market Rents by Bedroom
💰 Estimated Monthly Budget
Estimates based on median data and national averages. Actual costs vary.
🛒 Food & Groceries
National BLS average prices (2023). Local prices may vary.
🚗 Transportation
Commute Mode
⚡ Utilities
📋 Taxes
💼 Income & Employment
🎓 Education
👥 Demographics
💨 Air Quality
EPA AQS 2023 — county-level monitoring data
Frequently Asked Questions
What is the cost of living in Independence, MN?
Independence has a cost index of 256 (100 = national average). It is 156% above the national average.
What is average rent in Independence, MN?
The median gross rent in Independence is $3,500 per month based on 2023 Census data.
What is the average home price in Independence?
The median home value in Independence is $757,800 according to Zillow and Census data.
What is the median income in Independence?
The median household income in Independence is $194,205 per year (2023 ACS 5-year estimates).
What is the sales tax in Independence, MN?
The combined state and local sales tax rate in Independence is 7.4%. The Minnesota state income tax top rate is 9.8%.
Is Independence, MN affordable?
Independence is above average in cost of living, with an index of 256 — about 156% higher than the national average.
Independence at a Glance
- Population
- 3,695
- Median Income
- $194,205
- Home Value
- $757,800
- Median Rent
- $3,500/mo
- Unemployment
- 0.0%
- Sales Tax
- 7.4%
Explore county-level cost of living data
Minnesota Rankings
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Cities in other states with comparable housing costs