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Real Estate Prices & Overview

Old Meridian median real estate price is $500,691, which is more expensive than 95.3% of the neighborhoods in Indiana and 68.4% of the neighborhoods in the U.S.

The average rental price in Old Meridian is currently $2,391, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 95.4% of the neighborhoods in Indiana.

Old Meridian is a suburban neighborhood (based on population density) located in Carmel, Indiana.

Old Meridian real estate is primarily made up of small (studio to two bedroom) to medium sized (three or four bedroom) apartment complexes/high-rise apartments and townhomes. Most of the residential real estate is occupied by a mixture of owners and renters. Many of the residences in the Old Meridian neighborhood are newer, built in 2000 or more recently. A number of residences were also built between 1970 and 1999.

Vacant apartments or homes are a major fact of life in Old Meridian. The current real estate vacancy rate here is 16.4%. This is higher than the rate of vacancies in 81.0% of all U.S. neighborhoods. In addition, most vacant housing here is vacant year round. This can sometimes be the case in neighborhoods dominated by new construction that is not yet occupied. But often neighborhoods with vacancy rates this high are places that can be plagued by a protracted vacancy problem. If you live here, you may find that a number of buildings in your neighborhood are actually empty.

Notable & Unique Neighborhood Characteristics

The way a neighborhood looks and feels when you walk or drive around it, from its setting, its buildings, and its flavor, can make all the difference. This neighborhood has some really cool things about the way it looks and feels as revealed by NeighborhoodScout's exclusive research. This might include anything from the housing stock to the types of households living here to how people get around.

People

Of note is NeighborhoodScout's research finding that the Old Meridian neighborhood has some of the lowest rates of children living in poverty of any neighborhood in the United States. In a nation where approximately 1 in 4 children are living in poverty, the Old Meridian community truly stands out from the rest in this regard.

In addition, one of the most interesting things about the Old Meridian neighborhood is that it has a greater concentration of residents who live alone than most all neighborhoods in America. With 53.1% of the households here made up of people living alone, NeighborhoodScout's research reveals that this is a larger proportion of people living alone than in 97.0% of the neighborhoods in America.

Also, the rate of college educated adults in the Old Meridian neighborhood is a unique characteristic of the neighborhood. 74.4% of adults here have received at least a 4-year bachelor's degree, compared to the average neighborhood in America, which has 34.3% of the adults with a bachelor's degree. The rate here is higher than NeighborhoodScout found in 95.9% of all U.S. neighborhoods.

Real Estate

One of the really unique and interesting things about the look and setting of the Old Meridian neighborhood is that it is almost entirely dominated by large apartment buildings, such as apartment complexes or high-rise apartments. 80.8% of the residential real estate here is classified as such. This puts this neighborhood on the map as having a higher proportion of large apartment buildings than 96.8% of all neighborhoods in America.

In addition, homes built from 2000 through today make up a higher proportion of the Old Meridian neighborhood's real estate landscape than 96.8% of the neighborhoods in America. When you are driving around this neighborhood, you'll notice right away that it is one of the newest built of any, with the smell of fresh paint, and the look of young landscaping nearly everywhere you look. In fact, 75.5% of the residential real estate here is classified as newer.

Furthermore, the Old Meridian neighborhood is very unique in that it has one of the highest proportions of one, two, or no bedroom real estate of any neighborhood in America. Most neighborhoods have a mixture of home or apartment sizes from small to large, but here the concentration of studios and other small living spaces is at near-record heights. With 82.6% of the real estate here of this small size, this most assuredly is a notable feature that makes this neighborhood unique, along with just a handful of other neighborhoods in the U.S. that share this characteristic.

Modes of Transportation

A unique way of commuting is simply not to. And in the Old Meridian neighborhood, analysis shows that 28.4% of the residents work from home, avoiding a commute altogether. This may not seem like a large number, but it is a higher proportion of people working from home than is found in 95.9% of the neighborhoods in the United States. One thing NeighborhoodScout's research reveals is that the wealthier and/or more isolated the neighborhood, the greater the proportion of residents who choose to work from home.

Diversity

Did you know that the Old Meridian neighborhood has more Armenian and Slovak ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 0.8% of this neighborhood's residents have Armenian ancestry and 1.1% have Slovak ancestry.

The Neighbors

There are two complementary measures for understanding the income of a neighborhood's residents: the average and the extremes. While a neighborhood may be relatively wealthy overall, it is equally important to understand the rate of people - particularly children - who are living at or below the federal poverty line, which is extremely low income. Some neighborhoods with a lower average income may actually have a lower childhood poverty rate than another with a higher average income, and this helps us understand the conditions and character of a neighborhood.

The neighbors in the Old Meridian neighborhood in Carmel are upper-middle income, making it an above average income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 62.1% of the neighborhoods in America. In addition, 0.0% of the children seventeen and under living in this neighborhood are living below the federal poverty line, which is a lower rate of childhood poverty than is found in 100.0% of America's neighborhoods.

What we choose to do for a living reflects who we are. Each neighborhood has a different mix of occupations represented, and together these tell you about the neighborhood and help you understand if this neighborhood may fit your lifestyle.

In the Old Meridian neighborhood, 61.9% of the working population is employed in executive, management, and professional occupations. The second most important occupational group in this neighborhood is sales and service jobs, from major sales accounts, to working in fast food restaurants, with 14.3% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (13.2%), and 10.7% in manufacturing and laborer occupations.

Languages

The languages spoken by people in this neighborhood are diverse. These are tabulated as the languages people preferentially speak when they are at home with their families. The most common language spoken in the Old Meridian neighborhood is English, spoken by 77.9% of households. Other important languages spoken here include Langs. of India and Polish.

Ethnicity / Ancestry

Boston's Beacon Hill blue-blood streets, Brooklyn's Orthodox Jewish enclaves, Los Angeles' Persian neighborhoods. Each has its own culture derived primarily from the ancestries and culture of the residents who call these neighborhoods home. Likewise, each neighborhood in America has its own culture – some more unique than others – based on lifestyle, occupations, the types of households – and importantly – on the ethnicities and ancestries of the people who live in the neighborhood. Understanding where people came from, who their grandparents or great-grandparents were, can help you understand how a neighborhood is today.

In the Old Meridian neighborhood in Carmel, IN, residents most commonly identify their ethnicity or ancestry as Asian (24.0%). There are also a number of people of German ancestry (16.1%), and residents who report English roots (15.7%), and some of the residents are also of Irish ancestry (9.5%), along with some Italian ancestry residents (3.7%), among others. In addition, 23.1% of the residents of this neighborhood were born in another country.

Getting to Work

Even if your neighborhood is walkable, you may still have to drive to your place of work. Some neighborhoods are located where many can get to work in just a few minutes, while others are located such that most residents have a long and arduous commute. The greatest number of commuters in Old Meridian neighborhood spend under 15 minutes commuting one-way to work (43.6% of working residents), one of the shortest commutes across America.

Here most residents (66.9%) drive alone in a private automobile to get to work. In a neighborhood like this, as in most of the nation, many residents find owning a car useful for getting to work.


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