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Real Estate Prices & Overview

Meridian Park median real estate price is $71,088, which is less expensive than 97.0% of Indiana neighborhoods and 97.9% of all U.S. neighborhoods.

The average rental price in Meridian Park is currently $1,252, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 75.7% of Indiana neighborhoods.

Meridian Park is a suburban neighborhood (based on population density) located in Kokomo, Indiana.

Meridian Park real estate is primarily made up of small (studio to two bedroom) to medium sized (three or four 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 Meridian Park neighborhood are older, well-established, built between 1940 and 1969. A number of residences were also built between 1970 and 1999.

Vacant apartments or homes are a major fact of life in Meridian Park. The current real estate vacancy rate here is 24.8%. This is higher than the rate of vacancies in 91.7% 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

Many things matter about a neighborhood, but the first thing most people notice is the way a neighborhood looks and its particular character. For example, one might notice whether the buildings all date from a certain time period or whether shop signs are in multiple languages. This particular neighborhood in Kokomo, the Meridian Park neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.

People

Whether by choice, divorce, or unplanned pregnancy, single moms may have the toughest job in the book. NeighborhoodScout's exclusive analysis reveals that the Meridian Park neighborhood has more single mother households than 98.2% of the neighborhoods in the U.S. Often high concentrations of single mother homes can be a strong indicator of family and social issues such as poverty, high rates of school dropouts, crime, and other societal problems.

In addition, one of the unique characteristics of the Meridian Park neighborhood revealed by analysis is that the per capita income of residents here is lower than that found in 96.6% of the neighborhoods in America. Also of note, 64.1% of the children in this area live in poverty; an extraordinarily high percentage compared to other neighborhoods in the nation. In a nation where approximately one in four children grows up in poverty, this neighborhood stands out for the depth of the problem manifested here.

Occupations

From major sales accounts to fast-food workers, sales and service employees are often the backbone of the local economy. In the Meridian Park neighborhood, they truly stand out. NeighborhoodScout's exclusive analysis identifies this neighborhood as having a higher percentage of sales and service workers than 98.0% of all American neighborhoods.

Length of Commute

Whether walking, biking, riding, or driving, the length of one's commute is an important factor for one's quality of life. The Meridian Park neighborhood stands out for its commute length, according to NeighborhoodScout's analysis. Residents of the Meridian Park neighborhood have the pleasure of having one of the shortest commutes to work of any neighborhood in America. 60.0% of the residents have a commute time from home to work (one way) of less than fifteen minutes. This is a higher proportion of residents enjoying a short trip to work than NeighborhoodScout found in 96.1% of U.S. neighborhoods. Less time commuting means more time for other things in life.

Diversity

Significantly, 2.5% of its residents five years old and above primarily speak Korean at home. While this may seem like a small percentage, it is higher than 97.0% of the neighborhoods in America.

The Neighbors

How wealthy a neighborhood is, from very wealthy, to middle income, to low income is very formative with regard to the personality and character of a neighborhood. Equally important is the rate of people, particularly children, who live below the federal poverty line. In some wealthy gated communities, the areas immediately surrounding can have high rates of childhood poverty, which indicates other social issues. NeighborhoodScout's analysis reveals both aspects of income and poverty for this neighborhood.

The neighbors in the Meridian Park neighborhood in Kokomo are low income, making it among the lowest income neighborhoods in America. NeighborhoodScout's research shows that this neighborhood has an income lower than 96.6% of U.S. neighborhoods. With 64.1% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 97.7% of U.S. neighborhoods.

The old saying "you are what you eat" is true. But it is also true that you are what you do for a living. The types of occupations your neighbors have shape their character, and together as a group, their collective occupations shape the culture of a place.

In the Meridian Park neighborhood, 43.3% of the working population is employed in sales and service jobs, from major sales accounts, to working in fast food restaurants. The second most important occupational group in this neighborhood is manufacturing and laborer occupations, with 33.4% of the residents employed. Other residents here are employed in executive, management, and professional occupations (13.3%), and 9.4% in clerical, assistant, and tech support occupations.

Languages

The most common language spoken in the Meridian Park neighborhood is English, spoken by 95.1% of households. Some people also speak Korean (2.5%).

Ethnicity / Ancestry

Boston's Beacon Hill blue-blood streets, Brooklyn's Orthodox Jewish enclaves, Los Angeles' Persian neighborhoods. Each has its own culture derived primarily from the ancestries and culture of the residents who call these neighborhoods home. Likewise, each neighborhood in America has its own culture – some more unique than others – based on lifestyle, occupations, the types of households – and importantly – on the ethnicities and ancestries of the people who live in the neighborhood. Understanding where people came from, who their grandparents or great-grandparents were, can help you understand how a neighborhood is today.

In the Meridian Park neighborhood in Kokomo, IN, residents most commonly identify their ethnicity or ancestry as English (14.3%). There are also a number of people of Irish ancestry (12.7%), and residents who report German roots (9.1%), and some of the residents are also of Sub-Saharan African ancestry (2.6%), along with some Scottish ancestry residents (2.0%), 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 Meridian Park neighborhood spend under 15 minutes commuting one-way to work (60.0% of working residents), one of the shortest commutes across America.

Here most residents (80.3%) drive alone in a private automobile to get to work. In addition, quite a number also carpool with coworkers, friends, or neighbors to get to work (12.2%) . 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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