Total monthly cost of ownership
Cost to Own a Home in Independence, Oregon
A $345,000 home here costs
$2,601per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $1,774. The real number is $828 higher every month — 47% more than the payment most buyers budget for.
Where every dollar goes
Only the first line is a mortgage payment. Change any assumption above and every figure below recalculates.
Independence against Polk County and Oregon
| Measure | Independence | Polk County |
|---|---|---|
| Median home value | $345,200 | $419,500 |
| Median property tax | $3,315 | $3,534 |
| Effective tax rate | 0.960% | 0.842% |
| Median gross rent | $1,585 | $1,270 |
| Population | 10,088 | 88,553 |
The weather behind that power bill
Independence sits in Polk County, which averages a high of 80.7°F in its hottest month and a low of 32.9°F in its coldest, with 81.19" of precipitation a year and 51% of it in a single three-month stretch. That climate drives 193 cooling and 5,303 heating degree days, which is what sets the $146 electricity line above.
See the full climate breakdown for Polk County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Polk County
Common questions
How much does it cost to own a home in Independence?
A $345,000 home in Independence, Oregon costs approximately $2,601 per month with 20% down at 6.66%. That is $1,774 principal and interest, $276 property tax, $50 homeowners insurance, $214 utilities and $288 set aside for maintenance.
What is the property tax rate in Independence?
Independence has an effective property tax rate of 0.960%, based on a median home value of $345,200 and median real estate taxes of $3,315. That is higher than the Polk County average of 0.842%.
What is the average home price in Independence?
The median owner-occupied home value in Independence, Oregon is $345,200, against $419,500 across Polk County.
Is it cheaper to rent or buy in Independence?
Median gross rent in Independence is $1,585 a month, against $2,601 to own the median home all in. Renting costs less month to month here, though renting builds no equity.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Independence — US Census Bureau, American Community Survey ACS 2023 5-Year, place-level tables.
- Homeowners insurance — NAIC average premium for Oregon.
- Electricity price — EIA Electric Power Monthly Table 5.6.A.
- Mortgage rate — Freddie Mac PMMS, refreshed weekly.
- Maintenance (1%/yr) and water and sewer ($68/mo) are national estimates. Every assumption above is editable.