Meridian appreciation rates and housing market information
Meridian housing market information
With a population of 77,270, 25,302 total housing units (homes and apartments), and a median house value of $202,422, Meridian real estate prices are well above average cost compared to national prices.
Single-family detached homes are the single most common housing type in Meridian, accounting for 87.67% of the city's housing units. Other types of housing that are prevalent in Meridian include duplexes, homes converted to apartments or other small apartment buildings (4.77%), large apartment complexes or high rise apartments (3.17%), and a few row houses and other attached homes (2.53%).
Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Meridian. Owner-occupied housing accounts for 78.55% of Meridian's homes, and 79.47% have either three or four bedrooms, which is average sized relative to America.
Meridian homes and real estate are some of the newest in America. 51.83% of Meridian's housing was built since 2000, making the city have a very new look and feel. If you like the amenities of newer homes and subdivisions, then you will probably like what the Meridian real estate market has to offer. Quite a bit of the housing here was also built between 1970-1999 (43.71%), and between 1940-1969 (3.25%). There's also some housing in Meridian built before 1939 (1.21%).
Meridian home appreciation rates
In the last 10 years, Meridian has experienced some of the highest home appreciation rates of any community in the nation. Meridian real estate appreciated 48.68% over the last ten years, which is an average annual home appreciation rate of 4.05%, putting Meridian in the top 20% nationally for real estate appreciation. If you are a home buyer or real estate investor, Meridian definitely has a track record of being one of the best long term real estate investments in America through the last ten years.
Appreciation rates are so strong in Meridian that despite a nationwide downturn in the housing market, Meridian real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Meridian appreciation rates continue to be some of the highest in America, at 17.21%, which is higher than appreciation rates in 95.69% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Meridian. Meridian appreciation rates in the latest quarter were at 3.05%, which equates to an annual appreciation rate of 12.78%.
Importantly, this makes Meridian one of the highest appreciating communities in the nation for the latest quarter, and may signal the city's near-future real estate investment strength.
Relative to Idaho, our data show that Meridian's latest annual appreciation rate is higher than 90% of the other cities and towns in Idaho.
One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Meridian differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Meridian - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 1990, to assist you in making the best Meridian real estate investment or home purchase decisions.