Meridian, ID Real Estate Market

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 Q2 2021. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2019 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Meridian, ID Housing Market Trends

With a population of 114,161, 36,616 total housing units (homes and apartments), and a median house value of $405,005, 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 84.26% 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 ( 5.82%), large apartment complexes or high rise apartments ( 5.41%), and a few row houses and other attached homes ( 2.21%).

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 76.00% of Meridian's homes, and 74.06% 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. 60.55% 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 ( 36.76%), and between 1940-1969 ( 1.79%).

Meridian Home Appreciation Rates

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 187.91% over the last ten years, which is an average annual home appreciation rate of 11.15%, 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.

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 20.20%, which is higher than appreciation rates in 99.60% 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 7.17%, which equates to an annual appreciation rate of 31.91%.

Importantly, NeighborhoodScout’s exclusive research found that Meridian's housing market shows one of the <a href="/blog/highest-appreciating-cities">top real estate appreciation rates in the U.S.A.</a> in the latest quarter, which may signal the city’s near-future real estate investment strength.

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:
$405,005

Meridian, ID HOME PRICES

> $1,611,000
0.8%
0.8%
$1,208,001 - $1,611,000
0.4%
0.4%
$805,001 - $1,208,000
3.4%
3.4%
$644,001 - $805,000
9.2%
9.2%
$483,001 - $644,000
22.9%
22.9%
$322,001 - $483,000
38.1%
38.1%
$161,001 - $322,000
21.2%
21.2%
$80,001 - $161,000
1.1%
1.1%
$0 - $80,000
2.9%
2.9%
0.0% 100.0%
% OF HOMES
Value Relative To State

Very High for Nation

Very High for ID

Value Relative To Nation

Number Of Homes And Apartments:
36,616

Meridian Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
ID*
Compared To
America*
Latest Quarter:
2021 Q1 - 2021 Q2
Last 12 Months:
2020 Q2 - 2021 Q2
Last 2 Years:
2019 Q2 - 2021 Q2
Last 5 Years:
2016 Q2 - 2021 Q2
Last 10 Years:
2011 Q2 - 2021 Q2
Since 2000:
2000 Q1 - 2021 Q2
174.20% 4.80%
7
10
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,919 / per month

Homeownership Rate

Owners
76.0%
76.0%
Renters
24.0%
24.0%
Vacant
3.4%
3.4%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
60.6%
60.6%
1970 - 1999
36.8%
36.8%
1940 - 1969
1.8%
1.8%
1939 or Older
0.9%
0.9%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
84.3%
84.3%
Townhomes
2.2%
2.2%
Small Apt. Buildings
5.8%
5.8%
Apt. Complexes
5.4%
5.4%
Mobile Homes
2.2%
2.2%
Other
0.1%
0.1%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
0.6%
0.6%
1 Bedroom
2.1%
2.1%
2 Bedrooms
14.1%
14.1%
3 Bedrooms
46.9%
46.9%
4 Bedrooms
27.2%
27.2%
5 or more bedrooms
9.1%
9.1%
0.0% 100.0%
% OF HOMES