C+
18%
Overall NAT. AVG.
6%
Goods & Services NAT. AVG.
53%
Housing NAT. AVG.
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Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.
The cost of living index is based on a national average of 100. For example, if the cost of living is 90, then it is 10% lower than average. If the cost of living is 110, then it is 10% higher than average. The breakdown for each index is as follows: goods & services (33%), groceries (13%), health care (5%), housing (30%), transportation (9%) and utilities (10%). If the cost of living data was unavailable for this city, estimates based upon nearby cities were used.
Index Meridian Idaho National
Cost of living11896100
Goods & Services106101100
Groceries104101100
Health care10299100
Housing15388100
Transportation111105100
Utilities8486100

An Overview of Cost of Living in Meridian, ID

Are you thinking about relocating, but curious about the potential cost of living in Meridian? Is it more expensive or more affordable than average? Based on the most recent report, the cost of living in Meridian stands at 118, making it 18% higher than the national average. The cost of living directly affects the affordability of one's desired lifestyle. Knowing the cost of housing, transportation, groceries and other essentials in the new area allows people to gauge whether they can maintain their preferred standard of living.

When it comes to the cost of living in Meridian, housing costs are a real heavyweight, often hogging a significant chunk of your earnings. Sadly, in this area, housing expenses for both buying and renting were 53.3% more expensive compared to your average city. That means you'll be shelling out more for homes, rents, mortgage rates and insurance.

What Do Locals Say About the Cost of Living in Meridian?

The most insightful perspective on a city comes from its residents. We recently surveyed 27 locals to gauge their perception of the cost of living in Meridian. The feedback revealed that 44% of respondents found the cost of living to be reasonable, with prices on the decline, while 56% regarded it as notably expensive with prices that continue to rise.

Is Meridian Affordable?

Is Meridian an affordable place to live? It's a good question and one that you might want to ask when considering any new city, as affordability can play a huge role in the decision making process. The cost of living index (which we covered above), as well as housing costs and income levels play a vital role in determining the affordability of an area. The median home price in Meridian is 64.9% higher than the national average, while the average monthly rent prices are 26.4% higher than average. The affordability of any location can also be influenced by median income levels. Meridian has a median household income of $76,403, which is 38.1% higher than the national average.

What Factors can Influence the Cost of Living in Meridian?

Taxes: Areas with higher taxes, including sales taxes and income taxes, can contribute to a higher cost of living. Paying more tax for everyday goods and services like clothing and food will result in higher costs, as will paying a higher rate of income tax. The general sales tax rate in Meridian starts at 6% and the income tax rates start at 1.125%.

Housing: A sought-after location with high housing demand often leads to increased property values and rental rates, which can significantly inflate the overall cost of living. Conversely, areas with low housing demand, particularly in less desirable locales, tend to experience the opposite effect, causing prices to drop and contributing to a more affordable cost of living. In Meridian, the housing index stands at 53.3% higher than the national average.

Urbanization: Larger, urban areas boasting abundant amenities and robust employment prospects often exhibit a heightened cost of living, driven by the increased demand for services and residential relocation. Consequently, this leads to elevated home prices and higher rental rates. In contrast, sparsely populated rural locales or regions marked by diminished demand typically offer a more limited range of amenities and experience slower job market expansion. This translates into a more affordable cost of living.

Where is the Data From?

The Meridian cost of living data displayed above is derived from the C2ER cost of living index to provide a useful and reasonably accurate measure of living cost differences in urban areas. Published on a quarterly basis, it compiles data from more than 300 independent researchers, encompassing over 60 goods and services. These items have been meticulously selected to represent various consumer expenditure categories, in 6 categories. Weightings assigned to cost differentials draw from government survey data tracking spending patterns among professional and executive households. While the C2ER index excludes data on sales or income tax rates, AreaVibes incorporates tax rates into the overall cost of living score for each region.

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Cost Of Living Quick Facts

  • The cost of living in Meridian is 23% higher than the Idaho average
  • The cost of living in Meridian is 18% higher than the national average
  • Meridian housing is 53% higher than the national average
  • Idaho general sales tax is 18% higher than the national average
  • Idaho state income tax is 123% higher than the national average

Most Affordable Places to Live in and Around Meridian

See all the best places to live around Meridian

Compare Meridian, ID Cost of Living

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      Salary Calculator

      This is how much you would need to earn in
      Price difference in compared to
      Cost of living index
      Goods & Services index
      Groceries index
      Health care index
      Housing index
      Transportation index
      Utilities index

      Median Income & Debt-To-Income Ratio

      Median Income Per Year Per Month Max Budget (28% DTI) Max Budget (36% DTI)
      Owners$87,616$7,301$2,044$2,629
      Renters$52,634$4,386$1,228$1,579
      A good indicator of the general affordability of housing in Meridian, ID, is the percentage of monthly income that should be spent on housing expenses, otherwise known as the debt-to-income ratio (DTI). Generally speaking, no more than 28 percent of your total gross income should be spent on your housing expenses and not more than 36 percent of your gross income on total expenses, including debts. In Meridian, the median monthly income is $87,616 for those who own their own homes. Under the standard rule, that income level would allow for $2,044 to be budgeted for housing expenses each month, at the most. Renters, on the other hand, earn about $52,634, per the median income in the area. That would allow for renters to spend up to $1,228 on monthly rental expenses.

      Idaho Sales Tax

      State General Sales Tax With Max Surtax
      Idaho 6% 8.5%

      Idaho Income Tax

      State Income Tax (Low) Income Tax (High)
      Idaho 5.8% 5.8%

      Goods & Services

      Item Meridian National avg. Difference
      Haircut $27.88$24.2614.9%
      Beauty Salon $41.57$45.568.8%
      Toothpaste $4.22$3.7014.1%
      Shampoo $1.21$1.285.3%
      Movie $11.60$12.134.4%
      Bowling $18.53$18.002.9%

      Groceries

      Item Meridian National avg. Difference
      Ground Beef $5.96$5.842.1%
      Fried Chicken $1.46$1.577.0%
      Milk $4.91$4.675.0%
      Potatoes $4.57$4.937.4%
      Pizza $11.56$12.094.4%
      Beer $10.59$10.411.7%

      Health Care

      Item Meridian National avg. Difference
      Optometrist $152.62$125.6821.4%
      Doctor $150.90$135.7811.1%
      Dentist $97.00$113.2914.4%
      Ibuprofen $10.79$10.651.3%
      Lipitor $524.49$468.6011.9%

      Housing

      Item Meridian National avg. Difference
      Home Price $304,500.00$184,700.0064.9%
      Avg. Mortgage Payment $2,525.04$2,346.697.6%
      Apartment Rent $1,200.00$949.0026.4%

      Transportation

      Item Meridian National avg. Difference
      Gasoline $3.60$3.463.9%
      Tire Balancing $75.93$59.9226.7%

      Utilities

      Item Meridian National avg. Difference
      All Electricity $154.20$193.9920.5%
      Phone $176.97$192.257.9%
      Although the cost of living data is updated regularly, this cost of living information is to be used as estimates only as prices can change on an ongoing basis.

      Nearby cities with low cost of living

      City Population Cost of Living Index National Avg.
      Caldwell, ID56,7341022.3%
      Nampa, ID96,8251033.3%
      Middleton, ID8,0051054.8%
      Garden City, ID11,8731087.6%
      Kuna, ID20,98511110.6%
      Meridian, ID107,78711818.2%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Lewisville, TX107,74011615.8%
      Waterbury, CT107,8411011.1%
      Red Deer, AB107,873n/a 
      Hillsboro, OR108,02613232.1%
      Greeley, CO107,44511111.2%
      Meridian, ID107,78711818.2%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.