Merriam, KS
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
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Highest Appreciating Merriam Neighborhoods Since 2000




Merriam, KS 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

Merriam Housing Market Information

With 11,288 people, 5,016 houses or apartments, and a median cost of homes of $172,690, Merriam real estate is some of the most expensive in Kansas, although Merriam home values aren't among America's most expensive.

Single-family detached homes are the single most common housing type in Merriam, accounting for 55.53% of the city's housing units. Other types of housing that are prevalent in Merriam include large apartment complexes or high rise apartments ( 27.66%), row houses and other attached homes ( 11.01%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 5.44%).

People in Merriam primarily live in small (one, two or no bedroom) single-family detached homes. Merriam has a mixture of owner-occupied and renter-occupied housing.

There is a lot of housing in Merriam built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Merriam built between 1940-1969 ( 43.94%). A lesser amount of the housing stock also hails from before 1939 ( 7.61%). There's also some housing in Merriam built between 2000 and later ( 4.22%).

Merriam Home Appreciation Rates

Appreciation rates for homes in Merriam have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 7.81%, which ranks in the top 40% nationwide. This equates to an annual average Merriam house appreciation rate of 0.75%.

Appreciation rates are so strong in Merriam that despite a nationwide downturn in the housing market, Merriam real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Merriam appreciation rates continue to be some of the highest in America, at 6.59%, which is higher than appreciation rates in 78.52% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Merriam. Merriam appreciation rates in the latest quarter were at -0.04%, which equates to an annual appreciation rate of -0.17%.

Relative to Kansas, our data show that Merriam's latest annual appreciation rate is higher than 90% of the other cities and towns in Kansas.

Average Home Values

 

Median Home Value:
$172,690

Merriam, KS HOME PRICES

Value Range
> $1,166,000 0.0
$874,001 - $1,166,000 0.1
$583,001 - $874,000 0.0
$466,001 - $583,000 0.3
$350,001 - $466,000 1.1
$233,001 - $350,000 7.6
$117,001 - $233,000 79.2
$58,001 - $117,000 6.8
$0 - $58,000 4.9

Very High for KS
Average for Nation

Value Relative to Nation Value Relative to State
40.6773702097738 14.8936170212766

Number Of Homes And Apartments:
5,016

Merriam Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
KS*
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
35.13% 1.76% 3 4
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,097 / per month

Homeownership Rate

Homeownership
Owners 55.97
Renters 44.03
Vacant 6.24

Housing Market Details

 

Age of Homes

AGE OF Merriam HOMES
2000 or Newer 4.2
1970 - 1999 44.2
1940 - 1969 43.9
1939 or Older 7.6

Types of Homes

TYPE OF Merriam HOMES
Single-Family 55.5
Townhomes 11.0
Small Apt. Buildings 5.4
Apt. Complexes 27.7
Mobile Homes 0.4
Other 0.0

Home Size

SIZE OF Merriam HOMES
No Bedroom 2.47
1 Bedroom 17.57
2 Bedrooms 30.84
3 Bedrooms 34.65
4 Bedrooms 12.50
5 or more bedrooms 1.96