Cost of Living and Housing in Merritt Island, Florida

Merritt Island has about 34,992 residents. Median gross rent is $1,441 per month and median household income is $94,012.

Comparison scope: “dataset median” below means the median among 1,211 cities across 10 states in this dataset. It is not presented as a nationwide Census median. The figures use 2020-2024 ACS 5-Year estimates and may lag current listings.

Median Gross Rent $1,441/mo 13% below the dataset median

Median Home Value $402,900 8% above the dataset median

Median Household Income $94,012 12% above the dataset median

Owner-Occupied Homes 80% Share of occupied housing units

Rent-to-Income Baseline 18% Annual median rent ÷ household income

Home Value-to-Income 4.3x Median value ÷ household income

How Merritt Island compares

Rent is 13% below the dataset median, while household income is 12% above the dataset median. Within Florida, Merritt Island ranks #44 from lowest to highest rent and #49 from highest to lowest household income among 207 cities in this dataset.

The rent-to-income figure compares two citywide medians. It is useful for broad comparison, but it is not an individual household budget or a measure of renter cost burden.

Similar-size cities in Florida

Frequently asked questions

What is the median rent in Merritt Island?

Median gross rent is $1,441 per month in the 2020-2024 ACS 5-Year estimates.

What is the median home value in Merritt Island?

The median value of owner-occupied homes is $402,900 in the 2020-2024 ACS 5-Year estimates.

What is the median household income?

Median household income in Merritt Island is $94,012 per year.

Source: U.S. Census Bureau, 2020-2024 ACS 5-Year Estimates. Local database refreshed 2026-07-11.