Independence, KY Profile: Facts & Data

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Independence, Kentucky - Basic Facts

The City of Independence had a population of 27,654 as of July 1, 2020.

The primary coordinate point for Independence is located at latitude 38.9431 and longitude -84.5441 in Kenton County. The formal boundaries for the City of Independence encompass a land area of 17.43 sq. miles and a water area of 0.26 sq. miles. Kenton County is in the Eastern time zone (GMT -5). The elevation is 899 feet.

The City of Independence (GNIS ID: 2404755) has a C1 Census Class Code which indicates an active incorporated place that does not serve as a county subdivision equivalent. It also has a Functional Status Code of "A" which identifies an active government providing primary general-purpose functions.

Kentucky is one of 20 states where Census County Divisions (CCDs) are used for statistical tracking of subdivisions within each county. The City of Independence is located within Independence Division of Kenton County.


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Independence, KY Data & Demographics (As of July 1, 2020)

POPULATION

Total Population 27,654 (100%)
Population in Households 27,626 (99.9%)
Population in Families 24,223 (87.6%)
Population in Group Quarters1 28 ( 0.1%)
Population Density 1,575
Diversity Index2 16
 
 

INCOME

Median Household Income $78,090
Average Household Income $89,947
% of Income for Mortgage4 10%
Per Capita Income $30,281
Wealth Index5 87
 

HOUSING

Total HU (Housing Units) 9,721 (100%)
Owner Occupied HU 7,488 (77.0%)
Renter Occupied HU 1,835 (18.9%)
Vacant Housing Units 398 ( 4.1%)
Median Home Value $179,213
Average Home Value $193,920
Housing Affordability Index3 248
 

HOUSEHOLDS

Total Households 9,323
Average Household Size 2.96
Family Households 7,335
Average Family Size 3
NOTES
  1. Group Quarters - a place where people live or stay in a group living arrangement. Includes college residents halls, nursing facilities, military barracks, and correctional facilities.
  2. The Diversity Index is a scale of 0 to 100 that represents the likelihood that two persons, chosen at random from the same area, belong to different races or ethnic groups. If an area's entire population belongs to one race AND one ethnic group, then the area has zero diversity. An area's diversity index increases to 100 when the population is evenly divided into two or more race/ethnic groups.
  3. The Housing Affordability Index base is 100 and represents a balance point where a resident with a median household income can normally qualify to purchase a median price home. Values above 100 indicate increased affordability, while values below 100 indicate decreased affordability.
  4. The % of Income for Mortgage quantifies the percentage of median household income dedicated to mortgage payments on a home priced at the median value (assuming a 30-year mortgage and a 20% down payment).
  5. The Wealth Index is based on a number of indicators of affluence including average household income and average net worth, but it also includes the value of material possessions and resources. It represents the wealth of the area relative to the national level. Values above or below 100 represent above-average wealth or below-average wealth compared to the national level.

GROWTH RATE / YEAR

2010-2020 2020-2025
Population 1.09% 0.75%
Households 1.04% 0.69%
Families 0.93% 0.64%
Median Household Income   1.31%
Per Capita Income   2.1%
Owner Occupied HU   0.69%

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Independence, KY - Peer Comparisons by Rank and Percentile

The table below compares Independence to the other 541 incorporated cities, towns and CDPs in Kentucky by rank and percentile using July 1, 2020 data. The location Ranked # 1 has the highest value. A location that ranks higher than 75% of its peers would be in the 75th percentile of the peer group.

Variable Description Rank Percentile
Total Population # 16 97th
Population Density # 147 73rd
Median Household Income # 72 87th
Housing Affordability Index # 352 65th
Per Capita Income # 146 73rd
Diversity Index # 282 49th

Additional comparisons and rankings can be made with a VERY EASY TO USE Kentucky Census Data Comparison Tool.

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