Living in Independence, New Jersey
Cost of living, income, home prices, rent and demographics of Independence · Census data 2020–2024
Independence has 5,536 residents with a median age of 50.4. The median household income is $92,243 (11% lower than the New Jersey median), the median home value is $390,100, the median rent is $1,603/month.
Independence at a glance
- Population
- 5,536
- Median age
- 50.4State: 40.1
- Median household income
- $92,243State: $103,556
- Median home value
- $390,100State: $454,400
- Median rent
- $1,603/moState: $1,720
- Homeowners
- 82.5%
- Bachelor's degree or higher
- 50.5%
- Average commute
- 37 min
Is Independence a good place to live?
Pros: Home values 14% lower than the state median; unemployment of 1.4%; a poverty rate of 1.6%.
Cons: Median household income 11% lower than the New Jersey median; an average commute of 37 minutes.
The weather is best in May–June and August–September.
Cost of living in Independence
Housing is the biggest part of the cost of living. In Independence the median home value is $390,100, 17% higher than the U.S. median. Renters pay a median of $1,603 per month, which is 34% of household income. Homeowners with a mortgage pay $2,403 a month in housing costs.
Independence median household income
The median household income in Independence is $92,243 and the income per person is $56,130. 1.6% of residents live below the poverty line (New Jersey: 9.7%).
Housing in Independence: homes for sale and rent
- Housing units
- 2,638
- Owner-occupied
- 82.5%
- Renter-occupied
- 17.5%
- Vacant
- 2.7%Includes seasonal homes
- Median year built
- 1986
- Average household size
- 2.15
Independence demographics
- Population
- 5,536
- Median age
- 50.4
- Under 18
- 11.9%
- 65 and older
- 22.3%
- Households
- 2,567
- Foreign-born
- 8.8%
- Veterans
- 6.6%Adults 18+
Hispanic or Latino can be of any race. Population history of Independence ›
Education in Independence
50.5% of adults 25 and older in Independence have a bachelor's degree or higher (New Jersey: 43.6%), and 13.2% have a graduate or professional degree.
Jobs and commute in Independence
- Unemployment rate
- 1.4%State: 6.3%
- Average commute
- 37 minState: 31 min
- Work from home
- 13.6%
- Drive alone
- 79.2%
- Public transit
- 5.6%
- Walk to work
- 0%
- Homes with broadband
- 96.5%
Independence vs nearby towns
| Town | Population | Median income | Home value | Rent |
|---|---|---|---|---|
| Independence | 5,536 | $92,243 | $390,100 | $1,603 |
| Vienna | 999 | $170,913 | $482,600 | — |
| Panther Valley | 4,553 | $131,169 | $369,900 | $2,008 |
| Liberty | 2,680 | $120,494 | $363,600 | $1,695 |
| Hackettstown | 10,140 | $93,083 | $361,600 | $1,469 |
| Allamuchy | 5,427 | $131,626 | $378,400 | $1,929 |
| Beattystown | 4,917 | $87,500 | $416,000 | $1,416 |
| Mansfield | 7,778 | $88,845 | $367,300 | $1,438 |
| Silver Lake | 284 | $107,083 | $293,200 | — |
More for people moving to Independence
Independence ZIP code ›Weather and climate ›Living in Independence: FAQ
What is the median household income in Independence, NJ?
The median household income in Independence is $92,243, 11% lower than the New Jersey median of $103,556 (U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024).
What is the average home price in Independence?
The median home value in Independence is $390,100, compared with $454,400 in New Jersey.
How much is rent in Independence?
The median gross rent in Independence is $1,603 per month, about 34% of household income.
Is Independence, NJ a good place to live?
Pluses: home values 14% lower than the state median; unemployment of 1.4%; a poverty rate of 1.6%. Minuses: median household income 11% lower than the New Jersey median; an average commute of 37 minutes.
What is the median age in Independence?
The median age in Independence is 50.4 years (New Jersey: 40.1).
How long is the commute in Independence?
The average commute to work in Independence is 37 minutes; 13.6% of workers work from home.
What is the unemployment rate in Independence?
The unemployment rate in Independence is 1.4% (U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024).
How educated is Independence?
50.5% of adults in Independence have a bachelor's degree or higher.
Source: U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024 (margins of error apply, especially in small towns). Figures are in 2024 dollars.
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