Merritt Island renters looking for the least expensive areas to rent should look for the areas towards the red end of the spectrum on the rent cost map. Those who don't mind paying for high-end and luxury apartments should seek out apartments in the purple and dark green areas.
Rental Price Key
On average, the cost of rent in Merritt Island is about $1,497 per month. This puts it in the 71st percentile compared to the state average cost of rent, which is $1,532. Households in Merritt Island have a median income of $6,182 per month so the average renter in Merritt Island is spending roughly 24% of their earnings on housing.
Nationally, and in Merritt Island, home values are the data point most closely correlated with the cost of rent. The median price of a home in Merritt Island is $383,640 right now, which is higher than cities nearby, meaning that rents in Merritt Island also tend to be higher versus these nearby cities.
Higher rent prices are common in the eastern parts of Merritt Island while lower rent rates are often available in southwestern areas.
Nearby Cities
- Cocoa West, FL: less expensive rent prices
- Cape Canaveral, FL: less expensive rent prices
- Rockledge, FL: more expensive rent prices
- Cocoa Beach, FL: less expensive rent prices
- Cocoa, FL: less expensive rent prices
- Sharpes, FL: more expensive rent prices
- Port St. John, FL: less expensive rent prices
- Patrick Afb, FL: more expensive rent prices
- Bellwood, FL: less expensive rent prices
- Palm Shores, FL: less expensive rent prices
Cities with Similar Populations
- Cleveland Heights, OH: less expensive rent prices
- Coachella, CA: less expensive rent prices
- Cape Girardeau, MO: less expensive rent prices
- Grand Blanc, MI: less expensive rent prices
- Grovetown, GA: less expensive rent prices
- Thomasville, NC: less expensive rent prices
- Bountiful, UT: more expensive rent prices
- Encino, CA: more expensive rent prices
- Cutler Bay, FL: more expensive rent prices
- Parkersburg, WV: less expensive rent prices
All Local Stats
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