Meridian, ID
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Meridian, ID 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 2018. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2016 (latest available). Updated annually.

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

Meridian Housing Market Information

With a population of 95,623, 31,172 total housing units (homes and apartments), and a median house value of $288,901, Meridian real estate prices are well above average cost compared to national prices.

Single-family detached homes are the single most common housing type in Meridian, accounting for 87.72% 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 ( 4.63%), large apartment complexes or high rise apartments ( 3.85%), and a few mobile homes or trailers ( 1.82%).

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 75.67% of Meridian's homes, and 78.93% 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. 53.36% 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 ( 43.35%), and between 1940-1969 ( 1.99%). There's also some housing in Meridian built before 1939 ( 1.29%).

Meridian Home Appreciation Rates

Appreciation rates for homes in Meridian have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 8.10%, which ranks in the top 50% nationwide. This equates to an annual average Meridian house appreciation rate of 0.78%.

Appreciation rates are so strong in Meridian that despite a nationwide downturn in the housing market, Meridian real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Meridian appreciation rates continue to be some of the highest in America, at 12.29%, which is higher than appreciation rates in 96.26% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Meridian. Meridian appreciation rates in the latest quarter were at 1.66%, which equates to an annual appreciation rate of 6.80%.

Relative to Idaho, our data show that Meridian's latest annual appreciation rate is higher than 70% 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.

Average Home Values

 

Median Home Value:
$288,901

Meridian, ID HOME PRICES

Value Range
> $1,376,193 0.5
$1,031,843 - $1,376,193 0.4
$688,322 - $1,031,842 1.9
$550,562 - $688,321 3.6
$413,169 - $550,561 11.1
$275,028 - $413,168 30.8
$137,762 - $275,027 45.0
$68,921 - $137,761 3.9
$0 - $68,920 2.8

Very High for ID
Very High for Nation

Value Relative to Nation Value Relative to State
19.3167883211679 15.3225806451613

Number Of Homes And Apartments:
31,172

Meridian Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
ID*
Compared To
America*
Latest Quarter:
2017 Q4 - 2018 Q1
Last 12 Months:
2017 Q1 - 2018 Q1
Last 2 Years:
2016 Q1 - 2018 Q1
Last 5 Years:
2013 Q1 - 2018 Q1
Last 10 Years:
2008 Q1 - 2018 Q1
Since 2000:
2000 Q1 - 2018 Q1
75.19% 3.12%
6
8
* 10 is highest


Rent & Ownership

 

Average Market Rent:
$1,623 / per month

Homeownership Rate

Homeownership
Owners 75.67
Renters 24.33
Vacant 2.06

Housing Market Details

 

Age of Homes

AGE OF Meridian HOMES
2000 or Newer 53.4
1970 - 1999 43.3
1940 - 1969 2.0
1939 or Older 1.3

Types of Homes

TYPE OF Meridian HOMES
Single-Family 87.7
Townhomes 1.7
Small Apt. Buildings 4.6
Apt. Complexes 3.8
Mobile Homes 1.8
Other 0.3

Home Size

SIZE OF Meridian HOMES
No Bedroom 0.74
1 Bedroom 2.49
2 Bedrooms 11.37
3 Bedrooms 49.87
4 Bedrooms 29.06
5 or more bedrooms 6.47