Independence, MI housing market
Home prices around Independence have risen about 47% over the past 5 years. Builders were permitted 71 new homes in 2025.
Home values, sales, trends and how Independence compares with the towns next door — updated as new data is published.
Home prices up 47% in 5 years
The federal house price index for the ZIP codes around Independence rose 47% over the past 5 years, slower than across Michigan (52%). Last year prices rose 4%. Carrying the Census median home value forward with that index puts the typical Independence home at roughly $602,000 today.
Show as a table
| Year | Change that year | Since 2000 | Michigan since 2000 |
|---|---|---|---|
| 2025 | +4% | +81% | +97% |
| 2024 | +8.5% | +74% | +88% |
| 2023 | +4.8% | +60% | +76% |
| 2022 | +14% | +53% | +64% |
| 2021 | +9.1% | +35% | +45% |
| 2020 | +3% | +23% | +30% |
| 2019 | +4.4% | +20% | +26% |
| 2018 | +4.2% | +15% | +20% |
| 2017 | +5.6% | +10% | +12% |
| 2016 | +4.6% | +4.3% | +5.3% |
| 2015 | +4.5% | −0.3% | 0% |
| 2014 | +13% | −4.6% | −4.7% |
| 2013 | +11% | −16% | −12% |
| 2012 | +3.8% | −24% | −16% |
| 2011 | −1.9% | −27% | −16% |
| 2010 | −9.7% | −25% | −12% |
| 2009 | −14% | −17% | −5% |
| 2008 | −9.4% | −3.7% | +3.5% |
| 2007 | −6.8% | +6.3% | +11% |
| 2006 | −2.3% | +14% | +16% |
| 2005 | +3.5% | +17% | +18% |
| 2004 | +1.9% | +13% | +14% |
| 2003 | +2.5% | +11% | +10% |
| 2002 | +3.1% | +8.1% | +8.3% |
| 2001 | +4.8% | +4.8% | +5% |
| 2000 | — | — | — |
How Independence ranks on rising home prices →
Federal Housing Finance Agency House Price Index (annual, developmental) for ZIP codes 48348, 48346, weighted by land area. It tracks repeat sales and appraisals of the same homes, so it shows how prices changed, not what homes cost. The estimated value scales the Census (ACS 2020-2024) median home value by that change.
71 new homes permitted in 2025
Builders were permitted 71 new homes in Independence in 2025: 41 single-family houses and 30 in buildings with two or more homes, worth about $19.7 million to build. That's 1.9 per 1,000 residents, about the pace of Michigan as a whole. Over the past 10 years, Independence has permitted 1,133 homes in all.
Homes vs. people, 2010–2020
Between the 2010 and 2020 censuses, Independence gained 2,005 residents while 968 new homes were permitted: about 2.1 new residents per new home. Building and growth moved roughly in step. Across Michigan: 1.2 new residents per new home.
How Independence ranks on housing keeping up with growth →
Residents: U.S. Census Bureau, 2010 and 2020 censuses. New homes: permits issued 2010–2019.
Show as a table
| Year | New homes | Single-family | 2+ per building | Value |
|---|---|---|---|---|
| 2026 (Jan–Aug) | 57 | 32 | 25 | $16.5 million |
| 2025 | 71 | 41 | 30 | $19.7 million |
| 2024 | 218 | 77 | 141 | $42.9 million |
| 2023 | 84 | 48 | 36 | $35.8 million |
| 2022 | 198 | 106 | 92 | $46.2 million |
| 2021 | 91 | 38 | 53 | $18.9 million |
| 2020 | 76 | 76 | 0 | $20 million |
| 2019 | 83 | 83 | 0 | $17.6 million |
| 2018 | 169 | 169 | 0 | $42.4 million |
| 2017 | 69 | 67 | 2 | $19.9 million |
| 2016 | 74 | 74 | 0 | $22.1 million |
| 2015 | 104 | 104 | 0 | $25.1 million |
| 2014 | 117 | 117 | 0 | $25.8 million |
| 2013 | 170 | 170 | 0 | $35.9 million |
| 2012 | 107 | 107 | 0 | $23.1 million |
| 2011 | 54 | 54 | 0 | $9.7 million |
| 2010 | 21 | 21 | 0 | $5.6 million |
| 2009 | 5 | 5 | 0 | $1.8 million |
| 2008 | 13 | 13 | 0 | $4.5 million |
| 2007 | 23 | 23 | 0 | $6.3 million |
| 2006 | 62 | 62 | 0 | $17.3 million |
| 2005 | 187 | 187 | 0 | $38.3 million |
| 2004 | 253 | 246 | 7 | $43.3 million |
| 2003 | 208 | 208 | 0 | $37.2 million |
| 2002 | 215 | 211 | 4 | $45.8 million |
| 2001 | 200 | 200 | 0 | $46.9 million |
| 2000 | 260 | 260 | 0 | $52.7 million |
How Independence ranks on new homes being built →
Homes authorized by building permits, counted in the year the permit was issued. U.S. Census Bureau, Building Permits Survey, through August 2026.
Independence and its neighbors
| Town | Typical value | 1-yr change | 2-bed rent | New homes 2025 | Median income |
|---|---|---|---|---|---|
| Independence | — | +4%† | $1,520 | 71 | $114,699 |
| Waterford | $278K | +3.1% | $1,440 | 76 | $77,101 |
| Springfield | $428K | +3.7% | $1,540 | 43 | $110,101 |
| Orion | $405K | +2.7% | $1,500 | 27 | $118,801 |
| Brandon | $443K | +2.9% | $1,230 | 17 | $93,523 |
| Auburn Hills | $281K | +3% | $1,650 | 21 | $84,375 |
† FHFA price index change, where Zillow has no home value for the town.
3.3 years of income
The typical Independence home costs about 3.3 years of the town's median household income, less than across Michigan (3.7 years).
How Independence ranks on affordability →
Home value ÷ ACS median household income.
Owners, rent & taxes
U.S. Census Bureau, ACS 2020-2024.
A two-bedroom rents for about $1,520
HUD's Fair Market Rent for a two-bedroom in Independence is $1,520 a month, utilities included: roughly what a modest, recently rented unit costs. Renters already in Independence pay a median of $1,453. A two-bedroom takes about 16% of the town's median household income.
Studio $1,080 · 4 bedrooms $2,010
U.S. Department of Housing and Urban Development, FY2026 Fair Market Rents by ZIP code (48346, 48348; Detroit-Warren-Livonia, MI HUD Metro FMR Area), weighted by land area. A Fair Market Rent is the 40th-percentile rent plus utilities for a standard unit. Median rent: U.S. Census Bureau, American Community Survey.
Recent listings in Independence
Home values: Zillow Home Value Index (ZHVI), Zillow Research. Sales, days on market and supply: Redfin Data Center. Income, ownership, taxes and rent: U.S. Census Bureau, American Community Survey. New homes: U.S. Census Bureau, Building Permits Survey. Price trend: Federal Housing Finance Agency House Price Index. Fair Market Rents: U.S. Department of Housing and Urban Development. Listings link to their publishers.