Missouri · Kansas City, MO-KS metro area

Buying a home in Independence, Missouri

In Independence, the median value of owner-occupied homes is $172,900, Jackson County's effective property tax rate is 1.12%, a purchase mortgage carried a median $3,979 in total loan costs in 2025, and median gross rent is $1,109 a month.

Data as of : Census ACS 2020-2024, Census Vintage 2024, HMDA 2025, HUD FY 2027. Sources

Independence home costs, fact by fact

About Independence

Independence is a city in Missouri, with a population of 121,629. It lies in the Kansas City, MO-KS metro area, ranked 31st among U.S. metro areas. The median value of owner-occupied homes, as estimated by owners rather than a sale price, is $172,900, and 60.9% of homes are owner-occupied.

Reading the Independence figures

Value is where Independence stands out. Its $172,900 is the lowest figure among the Missouri cities named in this paragraph: Springfield comes next with $177,700, then St. Louis with $197,500, Kansas City with $242,900, Columbia with $284,600 and Lee's Summit with $340,900. The state as a whole is $271,400.

Renting costs $1,109 a month. St. Louis ($997) and Springfield ($964) are lower, Kansas City ($1,238) is higher, and Lee's Summit reaches $1,422. Ownership tells another tale: 60.9% of households here own, more than in Kansas City (55.4%), Columbia (48.7%), St. Louis (45.3%) or Springfield (43.9%), though Lee's Summit sits at 73.4%.

On the county side, Jackson County applies a 1.12% rate, so the annual bill is $2,575 against a county median value of $230,500. That county value is above the city figure, a reminder that the tax amount describes a typical county home rather than an Independence one. HUD's benchmark of $1,546 runs above the census rent. Lenders' charges in 2025 were typically $3,979, the central range spanning $3,010 up to $7,103 over 7,554 loans, a wide band for a city of this size.

Calculate for Missouri

If you buy

Missouri state transfer tax

Missouri has no real estate transfer tax. Change the price: the amount is recalculated instantly.

Price$271,400
State transfer tax$0
Share of the price—

Default price: the Missouri median value of owner-occupied homes, $271,400 (Census ACS 2025). Rule: No tax is calculated on the price. Recording fees depend on page count. Who pays: No transfer tax to assign; the statute says only that the recorder is allowed the fees, and the sales contract decides who pays them. Not included: county and city transfer taxes, recording fees, title insurance and lender charges. Missouri transfer tax guide · all 50 states.

If you sell

Capital gain and the federal tax on it

Same federal rule in every state: Section 121 of the Internal Revenue Code excludes up to $250,000 of gain on a main home ($500,000 for a married couple filing jointly).

Capital gain$350,000
Section 121 exclusion$250,000 (limit $250,000)
Taxable gain$100,000
Type of gainLong-term (owned over 1 year), 15% chosen
Federal tax on the gain$15,000

Section 121 excludes $250,000; the rest is taxable.

Gain = sale price minus your adjusted basis (purchase price, buying costs and improvements); selling expenses reduce it (IRS Publication 523). Long-term rates for sales in 2026, by taxable income including the gain (IRS Rev. Proc. 2025-32, section 4.03): 0% up to $49,450 single or $98,900 married filing jointly, 15% up to $545,500 single or $613,700 jointly, 20% above. Not included: Missouri state income tax on the gain (not computed), the net investment income tax, depreciation recapture on a rental or home office, and the reduced exclusion for an early sale. Agent commissions are negotiated and never set by law. Capital gains on a home sale.

Questions about buying a home in Independence

How much is property tax in Independence?

Homeowners in Jackson County pay a median $2,575 a year in property tax, 1.12% of the county median home value of $230,500 (Census ACS 2020-2024). Your bill depends on your assessed value and local rates.

What are closing costs on a mortgage in Independence?

Home-purchase mortgages in Jackson County carried median total loan costs of $3,979 in 2025; half of the 7,554 loans fell between $3,010 and $7,103 (HMDA). Total loan costs are the lender and settlement-service charges of the Closing Disclosure; transfer taxes and prepaid items come on top.

Is there a transfer tax when you buy a home in Independence?

Missouri does not tax the transfer of a home in any statute or fee schedule reviewed, and its Constitution (Article X, Section 25) bars any new tax on the sale or transfer of real estate since December 2, 2010. In St. Louis a standard deed costs $25 to record for the first page and $5 per extra page.

Is it cheaper to rent or buy in Independence?

It depends on your mortgage rate, down payment and how long you stay. As a benchmark, the median value of owner-occupied homes in Independence ($172,900) equals 13 years of the median gross rent ($1,109 a month), both from Census ACS 2020-2024.

Run your own numbers: rent vs buy calculator · closing costs calculator.

Missouri rules that apply in Independence

Other large cities in Missouri

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Sources

Missouri · All states · Federal guides