Cost of Living

Cost of living is the amount of money a household has to spend in order to maintain a good quality of life in a certain community. There are several factors that affect the total cost of living in an area including food, healthcare, real estate, utilities, and more. Families who plan to move into a new city should consider these costs before they make a decision. In our report, we provide an overview and a few examples of the typical expenses individuals and families have to spend when living in the city of Meridian.

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Meridian, Idaho Cost of Living Index

The Cost of Living of residents in Meridian is a bit expensive than the national and state average. Total expenses in the state typically average around the same as most communities in the country. Housing is the most expensive factor in the city similar to other parts of Meridian. Other expenses aside from transportation are generally cheaper than the national average.

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Real Estate

Real Estate in the city of Meridian is a lot higher than the typical city in the country. Families who plan to move here whether they are renting or buying a new home will have to consider housing costs as homes in the area tend to cost higher than most. The median home sale price is $307,800 with the average home price in the country as $219,700. 75.9% of all residents in the city own their homes with an average of 2.8% per household. Regular rental cost for an apartment in Meridian is $1,020 which is 34% higher than the average in Idaho.

Utility Bills

The average electricity bill is $144.50 per month, 12.9% lower than the national average. The monthly phone bill is $24.32 which is 15.2% lower compared to the general average of $28.68. Families will enjoy 10% lower utility bills in Meridian which is an excellent way to save money.

Food and Groceries

Food and groceries are relatively affordable in Meridian compared to other cities in Michigan and the country. Fast food meals are cheaper costing about $1.27 per meal. The price for regular grocery items is also lower, with potatoes costing $1.28 per kilo, milk is $1.34 per bottle, and a pizza box for $9.16.

Transportation Expenses

The average price of a liter of gasoline in Meridian is $2.35. This is 4.8% higher than the national average which is $2.24. The Valley Regional Transit (VRT) manages the public transportation of the region including the counties of Ada and Canyon. Other transit services managed by VRT includes bus system, inter-county lines, and more.

Taxes

Idaho is one of the lowest when it comes to taxes, ranking 37th overall. Sales tax in the state is 6% with a maximum surtax of 8.5%. Income tax in the region range between 1.6% to 7.4% in varying tax brackets.

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