Meridian, Mississippi Housing Market Prices
Meridian 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 1% above the Mississippi median$131,006
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Median rent 5% below the Mississippi median$909
Housing Market Overview
| Metric | Meridian | Mississippi Avg | US Average |
|---|---|---|---|
| Median Home Price | $131,006 | $130,069 | $248,835 |
| Price Trend (Annual %) | 15.1% | 5.6% | 7.5% |
| Median Gross Rent | $909 | $954 | $1,407 |
| Rent Trend (Annual %) | 3.7% | 3.6% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Meridian is about 1% higher than in Mississippi. Rent is about 5% lower than the Mississippi 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 Meridian, up about 15.1% and 3.7% a year respectively. Home prices are changing faster.
Median rent in Meridian rose about 34.3% between 2015 and 2024, from $677 to $909. Over the same span, rent in Mississippi rose about 33.2%.
Affordability
On average, housing unit costs 3.8 yearly household incomes in Meridian.
Buying the median-priced home in Meridian costs roughly 12.0 years of rent at the median monthly rate. That is a relatively low price-to-rent ratio, which tends to favor buying over renting in Meridian. The price-to-rent ratio in Mississippi is about 11.4.
| Metric | Meridian | Mississippi Avg | US Average |
|---|---|---|---|
| Median Home Price | $131,006 | $130,069 | $248,835 |
| Median Household Income | $34,659 | $56,669 | $80,455 |
| Price-to-Income Ratio | 3.8 | 2.3 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Meridian rose about 108.9%, 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 | Meridian | Mississippi Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 38.9% | 59.8% | 58.5% |
| Rental Rate | 43.0% | 25.6% | 31.2% |
| Vacancy Rate | 18.1% | 14.6% | 10.2% |
| Median Tenure (years) | 13.0 | 16.0 | 15.0 |
| Median Year Moved In | 2013 | 2010 | 2011 |
Meridian has a homeownership rate of 38.9%, lower than the Mississippi average of 59.8%. Its housing vacancy rate is 18.1%, compared with 14.6% in Mississippi.
Housing Stock
| Metric | Meridian | Mississippi Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.18 people | 2.49 people | 2.53 people |
| Median Structure Built Year | 1970 | 1986 | 1978 |
| Median Number of Rooms | 5.5 | 5.7 | 5.5 |
The typical housing unit in Meridian was built around 1970. On average, 2.2 people live in a home with about 5.5 rooms, staying for about 13.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Meridian, Mississippi.
What is the median home price in Meridian, Mississippi?
The median home price in Meridian, Mississippi is $131,006, higher than the Mississippi average of $130,069.
What is the average home price in Meridian, Mississippi?
The typical home price in Meridian, Mississippi, reported as the median sale price, is $131,006. 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 Meridian, Mississippi?
The median gross rent in Meridian, Mississippi is $909 per month, lower than the Mississippi average of $954.
What was the median gross rent in Meridian in 2020?
In 2020, the median gross rent in Meridian, Mississippi was $729 per month.
What is the price-to-rent ratio in Meridian, Mississippi?
The price-to-rent ratio in Meridian, Mississippi is about 12.0, meaning it would take roughly 12.0 years of rent payments at the median rent to equal the median home price. That is a relatively low price-to-rent ratio, which tends to favor buying over renting in Meridian.
Are home prices or rent rising faster in Meridian, Mississippi?
Both home prices and rent are rising in Meridian, up about 15.1% and 3.7% a year respectively. Home prices are changing faster.
What is the homeownership rate in Meridian, Mississippi?
38.9% of households in Meridian, Mississippi own their home, lower than the Mississippi average of 59.8%.
What is the vacancy rate in Meridian, Mississippi?
The housing vacancy rate in Meridian, Mississippi is 18.1%, higher than the Mississippi average of 14.6%.
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