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 about Scout's Real Estate Data
With 125,963 people, 40,796 houses or apartments, and a median cost of homes of $497,608, Meridian house prices are not only among the most expensive in Idaho, Meridian real estate also is some of the most expensive in all of America.
Single-family detached homes are the single most common housing type in Meridian, accounting for 84.20% 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 ( 6.95%), large apartment complexes or high rise apartments ( 5.28%), and a few row houses and other attached homes ( 2.29%).
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 77.26% of Meridian's homes, and 72.40% 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. 64.21% 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 ( 33.04%), and between 1940-1969 ( 1.72%). There's also some housing in Meridian built before 1939 ( 1.03%).
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 174.31% over the last ten years, which is an average annual home appreciation rate of 10.62%, putting Meridian in the top 10% 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.
Over the last year, Meridian appreciation rates have trailed the rest of the nation. In the last twelve months, Meridian's appreciation rate has been -9.08%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Meridian were at 2.68%, which equates to an annual appreciation rate of 11.17%.
Relative to Idaho, our data show that Meridian's latest annual appreciation rate is lower than 80% 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 2000, to assist you in making the best Meridian real estate investment or home purchase decisions.
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