Median Home Price
$237,642.27
Median Rent
$1,381.85/mo
Price-to-Rent RatioBETTER
14.3
Property Tax RateTIE
0.97%
Price Change (1Y)
+1.3%
Price Change (5Y)
+6.3%
Break-Even Years
N/A
10-Year Wealth Difference
$98,451
Median Home PriceBETTER
$182,874.79
Median RentBETTER
$882.6/mo
Price-to-Rent Ratio
17.3
Property Tax RateTIE
0.97%
Price Change (1Y)BETTER
+7.4%
Price Change (5Y)BETTER
+36.8%
Break-Even YearsBETTER
7 years
10-Year Wealth DifferenceBETTER
+$7,667
Key Differences
Home Prices
Independence's median home price of $237,642.27 is higher than St. Joseph's $182,874.79 by 30%.
Monthly Rent
Renting in Independence costs $1,381.85/mo compared to $882.6/mo in St. Joseph—a difference of $499.25/mo.
Buy vs Rent Verdict
Independence favors renting, while St. Joseph favors either option.
Break-Even Timeline
Break-even analysis varies based on market conditions in each city.