Meriden, CT
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
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Highest Appreciating Meriden Neighborhoods Since 2000




Meriden, CT Real Estate Data

Source & Methodology

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.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q1 2017. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2015 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

Meriden Housing Market Information

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.

Meriden Home Appreciation Rates

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.

Average Home Values

 

Median Home Value:
$164,630

Meriden, CT HOME PRICES

Value Range
> $965,000 0.3
$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

Very Low for CT
Average for Nation

Value Relative to Nation Value Relative to State
43.7888198757764 94.6745562130178

Number Of Homes And Apartments:
24,663

Meriden Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
CT*
Compared To
America*
Latest Quarter:
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
Since 2000:
2000 Q1 - 2017 Q1
21.50% 1.14% 3 2
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,247 / per month

Homeownership Rate

Homeownership
Owners 58.88
Renters 41.12
Vacant 14.08

Housing Market Details

 

Age of Homes

AGE OF Meriden HOMES
2000 or Newer 4.5
1970 - 1999 26.5
1940 - 1969 35.9
1939 or Older 33.1

Types of Homes

TYPE OF Meriden HOMES
Single-Family 48.7
Townhomes 4.3
Small Apt. Buildings 25.8
Apt. Complexes 20.9
Mobile Homes 0.2
Other 0.0

Home Size

SIZE OF Meriden HOMES
No Bedroom 2.15
1 Bedroom 16.52
2 Bedrooms 34.51
3 Bedrooms 34.91
4 Bedrooms 9.62
5 or more bedrooms 2.29