Rent to own Homes in Meridian, ID
Meridian is the third largest city in the state of Idaho, with a population of over 80,000 people. It falls just behind Nampa and Boise in size and has had a population increase of over 80 percent since 2000, making it the fastest growing city in the state. Between 1908 and 1928, Meridian was an important stop on the Interurban rail line when traveling to either Boise or Nampa, but it's better known for being the home of the Ada County Dairymen's cooperative creamery, which began operation in 1929. Despite its large population, Meridian still holds onto its roots and remains a dairy farm community.
Meridian, ID is a great place for affordable rent-to-own homes! With a median household income of over $76,403 and a median rent of $1,200, the Meridian, ID rent-to-own market is more affordable than the traditional housing market which has shown tremendous growth across the U.S. and with it, aggressive competition for home purchases. With the current housing shortage trend it can make it harder to become a homeowner, including in Meridian, ID. This means higher than average down payments for homes and higher qualification standards for conventional home loans. With a rent-to-own property, tenants are also buyers. You can live in the house for a set amount of time before you purchase it, meaning that you get to know the house, your neighbors, and your community before making the final purchase. This enables you and your family to make the right choice based on both information and experience. Rent-to-own is also a great alternative way to get into a home if you have bad credit or don't have enough saved for a down payment.
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Rent to own Homes in Cities Near Meridian, ID
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Old Town Meridian rent to own homesPopular Zip Codes in Meridian, ID
83680 rent to own homes 83642 rent to own homes 83646 rent to own homesBuying a Home in Meridian, ID
Meridian, ID is seeing rapid growth and Meridian, ID's' housing market remains not optimal with an average home price that is 40% above the 2024 national average. Meridian, ID is part of Ada county and taxes are an important factor to consider when purchasing a home whether through rent to own or a traditional purchase. The average tax rate as of 2024 for county Ada is 0.76% which is below the national average, which is 0.99%.
Median Home Price in Meridian, ID
Median Rent in Meridian, ID
Top Reasons to Live in Meridian ID
Housing Statistics Approximately 600 of the over 26,000 homes in Meridian are currently for sale, and some of these are available for owner financing or rent to own. The average listing price for a home in Meridian is $318,000, while the median sales price is $154,000. The standard price per square foot is $94. 85% of homes in Meridian are single-family, while only about 6% are housing structures with over three units. Over 50% of Meridian houses were built between 1990 and 1998. 85% of the homes are owner-occupied, while 14% are rental homes, with the median rental price being $985.
Local Events and Festivals In 1929, when the Meridian Creamery opened, there was a large celebration in the city. Every year in June, Meridian still celebrates this anniversary with a parade, carnival, and a dairy cattle and goat show. For over 80 years, Meridian Dairy Days has been a high point of the community's summer. There are two very popular corn mazes in Meridian in the fall, both with pony rides, hay rides, and a haunted trail. Linder Farms Pumpkin Patch and Corn Maze also has a petting zoo, mechanical bull, and obstacle course, while the Farmstead Corn Maze Pumpkin Festival boasts pig races and a pumpkin blaster. Both events are wonderful celebrations of Idaho's corn industry.
Transportation and Commutes Valley Regional Transit owns and operates Meridian's public bus system, as well as the ones in Boise and Garden City. Currently, there are only two bus routes in Meridian, the Number 40 Express from the Karcher Mall in Nampa to Gold's Gym Park and Ride in Meridian, stopping at the BSU West campus, and the Number 42 Limited stop route. Public transit is highly valued in Meridian. Additional routes include the Number 42, which follows the same route as the Number 40 but adds stops at Meridian Business Park, St. Luke's Meridian and the Towne Square Mall.
Neighborhoods Many Meridian residents identify which neighborhood their property is in by the closest intersection of main roads. Because of the major increase in Meridian's population in the past two decades, many of the residential neighborhoods in the city are rather new. Here are a few of the neighborhoods below: