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These days, finding an affordable place to live in the Merit area can be challenging. Home prices in Merit are now at a median cost of $335,390, higher than the Texas average of $322,096.
The average cost of rent is $1,041/mo in Merit, primarily driven by the current value of real estate in the Merit area. In Merit, 6.59% of households rent, and 52.61% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Merit is $7,422 per month. Households that rent pay about 14.02% of their income on rent here. Merit’s most expensive areas are in the northwestern regions, while the cheapest areas are in the northern parts of the city.
Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.
Nearby Cities
- Floyd, TX: higher priced homes
- Celeste, TX: less expensive homes
- Lane, TX: less expensive homes
- Farmersville, TX: equally priced homes
- Peniel, TX: less expensive homes
- Tidwell, TX: less expensive homes
- Pike, TX: higher priced homes
- Clinton, TX: equally priced homes
- White Rock, TX: less expensive homes
- Wolfe City, TX: less expensive homes
Cities with Similar Populations
- Garwood, TX: less expensive homes
- Stout, OH: less expensive homes
- Stockertown, PA: equally priced homes
- St. Vincent College, PA: less expensive homes
- Springer, OK: less expensive homes
- Southmont, NC: equally priced homes
- South Washington, IN: less expensive homes
- Somerset, MI: less expensive homes
- Sanish, ND: less expensive homes
- Houston, AL: less expensive homes
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