Meriden, Connecticut Housing Market Prices
Meriden Home Prices and Rent at a Glance
The median home price (often called the average home price), rent costs, affordability metrics, and housing stock characteristics for this housing market.
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Median home price 16% above the Connecticut median$325,194
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Median rent 13% below the Connecticut median$1,290
Housing Market Overview
| Metric | Meriden | Connecticut Avg | US Average |
|---|---|---|---|
| Median Home Price | $325,194 | $281,244 | $248,835 |
| Price Trend (Annual %) | 13.5% | 3.6% | 7.5% |
| Median Gross Rent | $1,290 | $1,481 | $1,407 |
| Rent Trend (Annual %) | 3.7% | 3.8% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Meriden is about 16% higher than in Connecticut. Rent is about 13% lower than the Connecticut average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2024
Median Rent Prices, 2015-2024
Both home prices and rent are rising in Meriden, up about 13.5% and 3.7% a year respectively. Home prices are changing faster.
Median rent in Meriden rose about 34.7% between 2015 and 2024, from $958 to $1,290. Over the same span, rent in Connecticut rose about 36.7%.
Affordability
On average, housing unit costs 4.6 yearly household incomes in Meriden.
Buying the median-priced home in Meriden costs roughly 21.0 years of rent at the median monthly rate. That is a relatively high price-to-rent ratio, which tends to favor renting over buying in Meriden. The price-to-rent ratio in Connecticut is about 15.8.
| Metric | Meriden | Connecticut Avg | US Average |
|---|---|---|---|
| Median Home Price | $325,194 | $281,244 | $248,835 |
| Median Household Income | $70,502 | $97,098 | $80,455 |
| Price-to-Income Ratio | 4.6 | 2.9 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Meriden rose about 160.0%, while median household income rose about 18.4% between 2009 and 2025 — the home price grew faster than income.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Meriden | Connecticut Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 54.4% | 62.8% | 58.5% |
| Rental Rate | 38.7% | 30.3% | 31.2% |
| Vacancy Rate | 6.9% | 6.9% | 10.2% |
| Median Tenure (years) | 15.0 | 16.0 | 15.0 |
| Median Year Moved In | 2011 | 2010 | 2011 |
Meriden has a homeownership rate of 54.4%, lower than the Connecticut average of 62.8%. Its housing vacancy rate is 6.9%, compared with 6.9% in Connecticut.
Housing Stock
| Metric | Meriden | Connecticut Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.43 people | 2.47 people | 2.53 people |
| Median Structure Built Year | 1957 | 1966 | 1978 |
| Median Number of Rooms | 5.1 | 5.7 | 5.5 |
The typical housing unit in Meriden was built around 1957. On average, 2.4 people live in a home with about 5.1 rooms, staying for about 15.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Meriden, Connecticut.
What is the median home price in Meriden, Connecticut?
The median home price in Meriden, Connecticut is $325,194, higher than the Connecticut average of $281,244.
What is the average home price in Meriden, Connecticut?
The typical home price in Meriden, Connecticut, reported as the median sale price, is $325,194. The median is used instead of a mathematical average because it is not skewed by a small number of very expensive or very cheap homes, so it better reflects what a typical buyer pays.
What is the median rent in Meriden, Connecticut?
The median gross rent in Meriden, Connecticut is $1,290 per month, lower than the Connecticut average of $1,481.
What was the median gross rent in Meriden in 2020?
In 2020, the median gross rent in Meriden, Connecticut was $1,043 per month.
What is the price-to-rent ratio in Meriden, Connecticut?
The price-to-rent ratio in Meriden, Connecticut is about 21.0, meaning it would take roughly 21.0 years of rent payments at the median rent to equal the median home price. That is a relatively high price-to-rent ratio, which tends to favor renting over buying in Meriden.
Are home prices or rent rising faster in Meriden, Connecticut?
Both home prices and rent are rising in Meriden, up about 13.5% and 3.7% a year respectively. Home prices are changing faster.
What is the homeownership rate in Meriden, Connecticut?
54.4% of households in Meriden, Connecticut own their home, lower than the Connecticut average of 62.8%.
What is the vacancy rate in Meriden, Connecticut?
The housing vacancy rate in Meriden, Connecticut is 6.9%, about the same as the Connecticut average.
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