Meridian is the third largest city in the state of Idaho, next to Boise and Nampa, with seven constituent neighborhoods and a population of 99,926 people. If you’re in the market to buy a house, you’ll be happy to see that most of the homes here have been recently built. The apparent new growth in residential real estate is indicative that there is high demand among homebuyers who are willing to invest on brand new construction in Meridian.
One of the reasons homebuyers prefer to settle down in Meridian, Idaho is its “small community” feel, despite having evolved to having “bigger city” amenities. Over the recent years, residents have witnessed the development of new shopping centers, schools, subdivisions, and infrastructure. Yet, the quality of life in this community has been the same as before. And while Meridian real estate may be one of the most expensive in Idaho, the home values are comparatively lower than the most expensive ones in the country.
Types of Homes in Meridian, ID
Real estate in Meridian, Idaho is an excellent choice for homebuyers, because of the vast array of choices available for every price range, architecture, and lifestyle. Most residential properties in Meridian, ID are single family detached homes, accounting for approximately 86.5% of the houses in the city. The rest of the residential properties are townhomes, small apartment buildings, apartment complexes, and mobile homes. More than 50% of the homes here have been built from 2000 onwards, 41.9% were constructed between 1970 and 1999, and the rest are older residences built before 1970. Almost 50% of these houses have three bedrooms, 28.8% are four-bedroom homes, 12% are with two bedrooms, 7% with five or more bedrooms, 2.6% with one bedroom, and 0.9% are studio type apartments.
Meridian, ID Community Features
Listed on CNN Money as one of the best places to live, Meridian provides an excellent education system to its communities. The West Ada School District, also known as the Meridian School District, is one of Idaho’s most highly acclaimed school systems, with over 38,000 students from pre-kindergarten to Grade 12. Some of the major companies in this city include Blue Cross of Idaho and St. Luke’s Meridian Medical Center.
Another reason why Western Idaho homebuyers prefer to purchase a property in Meridian is its convenient access to nearby attractions and services. Aside from the shorter commute to Boise and other Treasure Valley locations, the Interstate-84 also provides easy access to shopping complexes, entertainment spots, sports parks, community parks, business parks, attractions, and medical facilities. Among the major attractions in this city are the Meridian Symphony Orchestra, Meridian Speedway, Roaring Springs Water Park, and Wahooz Family Fun Zone.
There are countless recreational parks and sports centers in Meridian, including the Eagle Island State Park, the Snake River Birds of Prey National Conservation Area, and the Swan Falls Dam on the Snake River, to name a few. Some of the popular outdoor activities in this location are fishing, biking, water activities, snow skiing, and hunting.
Meridian, Idaho Housing Market
With a population of over 99,000 and more than 33,000 houses and apartments, majority of Meridian residents (76.2%) are homeowners. The most prevalent type of housing in this location are single-family detached homes with three to four bedrooms. About 70% of homes in Meridian, ID are within the $144,001 to $432,000 price range. The median cost of homes is $323,357, which is higher than the median home price on a national level of $200,000 but, considering the wonderful surroundings and amenities in this community, any homebuyer or investor would agree that this amount is justified. As the Meridian real estate is one of the newest in the country, with 55.07% of Meridian’s housing built from 2000 onwards, the city offers a very new look and feel. If you prefer the amenities of newer homes and subdivisions, Meridian is the perfect place to invest in.
Whether you are looking for a property to call your next home or one to invest in, Meridian has good news for you. Meridian places in the top 20% nationally for real estate appreciation, making it a great option for homebuyers and anyone who wants to invest long term in real estate. What used to be comprised mostly of low value agricultural land and rural neighborhoods is now a thriving real estate market offering some of the most valuable and sought-after residential properties in the state of Idaho.
Over the last ten years, Meridian real estate appreciated 37.57%, with an annual average appreciation rate of 3.24%, which is one of the highest home appreciation rates of any community in the country. The real estate market in Meridian continued to appreciate in value despite the nationwide downturn in the housing market and at a faster rate compared to most communities. The appreciation rate in 2018 alone was 11.86%, which is higher relative to 95.44% of the cities and towns in the nation whose appreciation rates range between 3% to 5% on average. At the current state of Meridian’s real estate market, it would be very promising for any homebuyer or investor to purchase a property in this city and the best time to buy is now.
If you are looking to buy your new home or if you an investor in search of a great opportunity in real estate, Meridian, Idaho is the perfect location for you. With a thriving real estate market, there are countless options for any budget and preference. Here, you get to experience big city amenities and features while enjoying the “small community” feel, not to mention that you will be just a few minutes from Boise. If you would like to explore the homes available in this wonderful community, we will be more than happy to help you. Feel free to give us a call at 208-917-8022 or send us an email at Justin@Naglegroup.com and we will get back to you the soonest possible time.