Analytics built by: Location, Inc.
Raw data sources: American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more
With 59,988 people, 24,663 houses or apartments, and a median cost of homes of $164,630, Meriden real estate values are some of the lowest in Connecticut, although compared to real estate around the nation, Meriden homes are still considered rather expensive.
Single-family detached homes are the single most common housing type in Meriden, accounting for 48.73% of the city's housing units. Other types of housing that are prevalent in Meriden include duplexes, homes converted to apartments or other small apartment buildings ( 25.83%), large apartment complexes or high rise apartments ( 20.90%), and a few row houses and other attached homes ( 4.29%).
People in Meriden primarily live in small (one, two or no bedroom) single-family detached homes. Meriden has a mixture of owner-occupied and renter-occupied housing.
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. Meriden's housing was primarily built during this period, from the '40s through the '60s. A full 35.92% of the city's housing hails from this era. Other housing ages represented in Meriden include homes built before 1939 ( 33.11%) and housing constructed between 1970-1999 ( 26.50%). There's also some housing in Meriden built between 2000 and later ( 4.47%).
Vacant housing appears to be an issue in Meriden. Fully 14.08% of the housing stock is classified as vacant. Left unchecked, vacant Meriden homes and apartments can be a drag on the real estate market, holding Meriden 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.
Homes have actually lost value in Meriden over the last then years, as home values have seen a decline of 27.13% during the ten year period. In the latest quarter, NeighborhoodScout appreciation rate data shows Meriden home appreciation rates at -0.47%, which equates to an annual appreciation rate of -1.86%.
Over the last year, Meriden appreciation rates have trailed the rest of the nation. In the last twelve months, Meriden's appreciation rate has been -0.90%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Meriden were at -0.47%, which equates to an annual appreciation rate of -1.86%.
Relative to Connecticut, our data show that Meriden's latest annual appreciation rate is lower than 60% of the other cities and towns in Connecticut.
One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Meriden differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Meriden - 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 2000, to assist you in making the best Meriden real estate investment or home purchase decisions.
|$724,001 - $965,000||0.3|
|$482,001 - $724,000||0.8|
|$386,001 - $482,000||1.4|
|$290,001 - $386,000||5.2|
|$193,001 - $290,000||26.3|
|$97,001 - $193,000||57.1|
|$48,001 - $97,000||5.3|
|$0 - $48,000||3.3|
|Value Relative to Nation||Value Relative to State|
|Time Period||Total Appreciation||Avg. Annual Rate||
2016 Q4 - 2017 Q1
Last 12 Months:
2016 Q1 - 2017 Q1
Last 2 Years:
2015 Q1 - 2017 Q1
Last 5 Years:
2012 Q1 - 2017 Q1
Last 10 Years:
2007 Q1 - 2017 Q1
2000 Q1 - 2017 Q1
|* 10 is highest|
|AGE OF Meriden HOMES|
|2000 or Newer||4.5|
|1970 - 1999||26.5|
|1940 - 1969||35.9|
|1939 or Older||33.1|
|TYPE OF Meriden HOMES|
|Small Apt. Buildings||25.8|
|SIZE OF Meriden HOMES|
|5 or more bedrooms||2.29|