76665, Meridian, TX

Meridian, TX is located in the Dallas-Fort Worth metro area and has a population of around 143,000. The median household income in Meridian is $75,000 and the median home value is $212,500. Home equity in Meridian is relatively high compared to other areas of the country. In 2016, the home equity rate in Meridian was 10.5%. This means that for every $100 worth of mortgage debt on a home worth $200,000 or more, the homeowner had an equity stake of $10,500. This compares favorably to the national average of 5.4%.

There are several reasons why Meridian's home equity rates are high. First, Meridian has a low unemployment rate (3% as of May 2017) which leads to more homeowners who are able to borrow against their homes without fear of losing their jobs. Second, there is a strong demand for housing in Meridian due to its proximity to major metropolitan areas such as Dallas and Fort Worth as well as its many amenities such as schools and recreational facilities. Finally, Meridian's housing market has been relatively stable over the past few years which has helped keep home values high.

Despite these positive factors, there are some challenges facing Meridian's housing market that could lead to lower home equity rates in future years. For example, although wages have been increasing modestly over the past few years, they remain below pre-recession levels which may make it harder for some homeowners to qualify for mortgages that offer generous terms and high levels of home equity coverage. Additionally, although prices have remained relatively stable over recent years compared to other parts of the country where prices have increased significantly or decreased modestly*, there is potential for price growth in neighboring cities such as Plano or Garland (both within commuting distance) which could lead to increased competition for homes within Meridian's borders and lower home equity rates overall*.