Meridian appreciation rates and housing market information

Meridian housing market information

With 40,035 people, 17,952 houses or apartments, and a median cost of homes of $96,789, the cost of homes in Meridian is among some of the lowest in the nation. Compared to Mississippi, however, Meridian real estate is not on the lower end of the price spectrum.

single-family detached homes are the single most common housing type in Meridian, accounting for 64.19% of the city's housing units. Other types of housing that are prevalent in Meridian include large apartment complexes or high rise apartments (16.87%), duplexes, homes converted to apartments, or other small apartment buildings (13.85%), mobile homes or trailers (2.84%), and a few row houses and other attached homes (2.24%).

The most prevalent building size and type in Meridian are three and four bedroom single-family detached homes. The city has a mixture of owners and renters, with 50.42% owning, and 38.55% renting.

At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. Meridian's housing was primarily built during this period, from the '40s through the '60s. A full 49.48% of the city's housing hails from this era. Other housing ages represented in Meridian include homes built between 1970-1994 (34.21%), and housing constructed from 1939 and earlier (12.48%). There's also some housing in Meridian built between 1995 and later (3.83%).

Vacant housing appears to be an issue in Meridian. Fully 11.03% of the housing stock is classified as vacant. Left unchecked, vacant Meridian homes and apartments can be a drag on the real estate market, holding Meridian real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.

Meridian home appreciation rates

Some of the lowest real estate appreciation rates in America over the last ten years have been in Meridian, where house values have increased just 37.50%, which is an average annual increase of 3.75%. NeighborhoodScout's data show that in the latest quarter, Meridian house values appreciated -0.40%, which is an annualized rate of -1.60%. This rate is lower than the appreciation rate found in 70% of the cities and towns in America.

NeighborhoodScout's data show that during the latest twelve months, Meridian home appreciation rates, at 0.30%, have been at or slightly above the national average. In the latest quarter, Meridian's appreciation rate has been -0.40%, which annualizes to a rate of -1.60%.

Relative to Mississippi, our data show that Meridian's latest annual appreciation rate is higher than 24% of the other cities and towns in Mississippi.

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.