Updated 2026 · Based on median market data for Independence, MO
The median monthly rent in Independence, MO is $1,100, translating to $13,200 in annual gross rental income per unit. The rent-to-price ratio is 0.56% — well below the 1% rule, making pure cash flow investing challenging at median prices.
Renters in Independence spend approximately 29% of the local median household income ($46,200) on rent. This is within the healthy 25-30% range, indicating rent is affordable relative to local incomes. There may be room for moderate rent increases, especially for updated or well-located units.
The vacancy rate in Independence is 6%. This is a healthy vacancy rate that indicates balanced supply and demand. You should be able to find quality tenants without extended vacancies, though expect normal turnover periods of 2-4 weeks between tenants. Population growth of 0.3% annually provides stable demand.
Independence's GRM (price divided by annual rent) is 14.8x. A GRM between 12-16x is moderate and typical of balanced markets. Deals can work but you need to keep expenses controlled. For comparison, the national average GRM for investment-grade rentals is approximately 13-15x.
At the median rent of $1,100/mo, a single-family rental in Independence generates approximately $13,200 in gross annual income. After accounting for 6% vacancy ($792 lost), property taxes of $2,496, insurance (~$780), and maintenance (~$780), the estimated NOI is $8,352 per year, or $696/mo.