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Real Estate Prices & Overview

Historic Meridian Park median real estate price is $245,787, which is more expensive than 49.1% of the neighborhoods in Indiana and 29.9% of the neighborhoods in the U.S.

The average rental price in Historic Meridian Park is currently $1,643, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 66.4% of the neighborhoods in Indiana.

Historic Meridian Park is an urban neighborhood (based on population density) located in Indianapolis, Indiana.

Historic Meridian Park real estate is primarily made up of medium sized (three or four bedroom) to small (studio to two bedroom) single-family homes and apartment complexes/high-rise apartments. Most of the residential real estate is occupied by a mixture of owners and renters. Many of the residences in the Historic Meridian Park neighborhood are relatively historic, built no later than 1939, and in some cases, quite a bit earlier. A number of residences were also built between 1940 and 1969.

Vacant apartments or homes are a major fact of life in Historic Meridian Park. The current real estate vacancy rate here is 34.0%. This is higher than the rate of vacancies in 96.1% of all U.S. neighborhoods. In addition, most vacant housing here is vacant year round. This can sometimes be the case in neighborhoods dominated by new construction that is not yet occupied. But often neighborhoods with vacancy rates this high are places that can be plagued by a protracted vacancy problem. If you live here, you may find that a number of buildings in your neighborhood are actually empty.

Notable & Unique Neighborhood Characteristics

When you see a neighborhood for the first time, the most important thing is often the way it looks, like its homes and its setting. Some places look the same, but they only reveal their true character after living in them for a while because they contain a unique mix of occupational or cultural groups. This neighborhood is very unique in some important ways, according to NeighborhoodScout's exclusive exploration and analysis.

People

The types of households in a neighborhood can tell a lot about the character and lifestyle of those living here. NeighborhoodScout's exclusive analysis reveals that this neighborhood, above nearly every neighborhood in America, has a greater percentage of its residents living alone: 62.3%. This is a higher percent living alone than we found in 99.1% of all U.S. neighborhoods. Often residents who live alone are new arrivals to an area who are single, and often senior citizens who have lost a spouse.

Modes of Transportation

If your dream is to be able to ride your bike to work each day, look no further than this unique neighborhood. With 3.8% of residents in the Historic Meridian Park neighborhood commuting on a bicycle to and from work daily, this neighborhood has more bicycle commuters than 97.0% of all neighborhoods in the U.S., according to NeighborhoodScout's exclusive analysis.

Real Estate

Vacant homes and apartments are a significant characteristic of this neighborhood. In fact, with 34.0% of the residential real estate vacant, the Historic Meridian Park neighborhood claims the distinction of having a higher vacancy rate than 96.1% of the neighborhoods in America. This can either be because much of the property is seasonally occupied, like in many vacation areas, or that much of the real estate is more permanently abandoned.

In addition, do you watch 'This Old House' on Public Television? Do you love the idea of fixing up a Colonial or Victorian era home, complete with the charm of yesteryear? Do you like to stroll or drive streets lined with gracious older residences? If you found yourself nodding yes to any of these questions, you are going to be interested in this unique neighborhood. The Historic Meridian Park neighborhood stands out on a national scale for the sheer concentration of historic residences it contains: 75.0% of the residential real estate here was built from 1939 or earlier, some much earlier. This is a greater concentration of historic homes than 99.2% of the neighborhoods in the United States.

Diversity

Did you know that the Historic Meridian Park neighborhood has more Iranian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 7.8% of this neighborhood's residents have Iranian ancestry.

The Neighbors

There are two complementary measures for understanding the income of a neighborhood's residents: the average and the extremes. While a neighborhood may be relatively wealthy overall, it is equally important to understand the rate of people - particularly children - who are living at or below the federal poverty line, which is extremely low income. Some neighborhoods with a lower average income may actually have a lower childhood poverty rate than another with a higher average income, and this helps us understand the conditions and character of a neighborhood.

The neighbors in the Historic Meridian Park neighborhood in Indianapolis are low income, making it among the lowest income neighborhoods in America. NeighborhoodScout's research shows that this neighborhood has an income lower than 93.1% of U.S. neighborhoods. With 21.3% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 70.7% of U.S. neighborhoods.

What we choose to do for a living reflects who we are. Each neighborhood has a different mix of occupations represented, and together these tell you about the neighborhood and help you understand if this neighborhood may fit your lifestyle.

In the Historic Meridian Park neighborhood, 50.0% of the working population is employed in executive, management, and professional occupations. The second most important occupational group in this neighborhood is manufacturing and laborer occupations, with 23.9% of the residents employed. Other residents here are employed in sales and service jobs, from major sales accounts, to working in fast food restaurants (17.6%), and 8.4% in clerical, assistant, and tech support occupations.

Languages

The most common language spoken in the Historic Meridian Park neighborhood is English, spoken by 87.6% of households. Some people also speak Spanish (2.7%).

Ethnicity / Ancestry

Culture is shared learned behavior. We learn it from our parents, their parents, our houses of worship, and much of our culture – our learned behavior – comes from our ancestors. That is why ancestry and ethnicity can be so interesting and important to understand: places with concentrations of people of one or more ancestries often express those shared learned behaviors and this gives each neighborhood its own culture. Even different neighborhoods in the same city can have drastically different cultures.

In the Historic Meridian Park neighborhood in Indianapolis, IN, residents most commonly identify their ethnicity or ancestry as German (11.6%). There are also a number of people of Irish ancestry (8.5%), and residents who report Irania roots (7.8%), and some of the residents are also of Sub-Saharan African ancestry (3.0%), along with some African ancestry residents (3.0%), among others.

Getting to Work

Even if your neighborhood is walkable, you may still have to drive to your place of work. Some neighborhoods are located where many can get to work in just a few minutes, while others are located such that most residents have a long and arduous commute. The greatest number of commuters in Historic Meridian Park neighborhood spend between 30 and 45 minutes commuting one-way to work (38.0% of working residents), which is at or a bit above the average length of a commute across all U.S. neighborhoods.

Here most residents (81.3%) drive alone in a private automobile to get to work. In a neighborhood like this, as in most of the nation, many residents find owning a car useful for getting to work.


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