How much does it cost to rent in Merritt Island, FL?

As of July 2026, the median monthly rent in Merritt Island, FL is $2,092. This figure is based on aggregated data from public sources and community-submitted rents.

Is Merritt Island cheaper than other Florida cities?

Merritt Island falls in the middle range for Florida, ranking #156 out of 288 cities at $2,092/mo.

When was Merritt Island rent data last updated?

Merritt Island rent data reflects July 2026 and was last refreshed on July 20, 2026. RentDataNow refreshes all data monthly using public and private datasets.

City Report · FL

Merritt Island

Name: Average Rent Prices in Merritt Island, FL
Creator: RentDataNow
License: https://rentdatanow.com/terms-of-service

Pop. 34,992·156th most expensive in Florida·Merritt Island rents are up 23.2% over the past year

Median rent (all units)

$2,092/mo

Year-over-Year

+23.2%

Month-over-Month

-5.5%

vs US Median

+$127

Falling (Monthly)

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Most AffordableMost Expensive

Merritt Island · $2,092

More expensive than 64% of US cities · National median $1,965/mo

Affordability

27% of income

AFFORDABLE

0%30% benchmark60%+

At $2,092/mo, rent takes about 27% of the local median household income, comfortably within the 30% benchmark.

Income to afford

$84,000/yr

Local median income

$94,012/yr

Based on the 30%-of-income rule using Merritt Island's median rent and household income. See the full affordability breakdown →

Medians by bedroom

Rent by unit size

Studio

$1,120

1 BR

$1,315

2 BR

$1,525

3 BR

$2,070

4 BR+

$2,375

Research median

$1,525/mo

Bedroom estimates are gross rents that include essential utilities (electricity, water, gas, sewer, trash).

Rent trends

12-month history

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Last updated: July 20, 2026

Annual cost

$25,104/yr

At $2,092/mo median

Rent Market Meter

Strong Landlord's Market

Renter's MarketBalancedLandlord's Market

Rents are up 23.2% year-over-year. Expect competition, and move quickly to lock in terms.

Based on rent-price momentum (+23.2% YoY, -5.5% MoM), not inventory.

Rent check

Is your rent fair?

Compare your rent to the local median.

Demographics

Who lives here

Merritt Island, FL is majority owner-occupied, has a large retiree population, has a median income above the national average, 41% of residents hold a bachelor's degree or higher.

Population

34,992

Median income

$94,012

Median age

50.2

Renters

20%

Age distribution

17.2%

15.5%

23.4%

16.4%

27.6%

Under 1817.2%

18–3415.5%

35–5423.4%

55–6416.4%

65+27.6%

Gender

50.1%

49.9%

Male50.1%

Female49.9%

Race & ethnicity

85.4%

White85.4%

Black2.7%

Hispanic6.6%

Asian3.2%

Other2.3%

Education (25+)

20.6%

33.6%

41%

No HS diploma4.8%

HS diploma20.6%

Some college33.6%

Bachelor's+41%

Housing tenure

80%

20%

Owner80%

Renter20%

Source: U.S. Census Bureau · ACS 2024 5-Year Estimates

2022 vs 2026

How Merritt Island, FL has changed in 5 years

Rent

$1,688 → $2,092

up 23.9%

Income

$78,022 → $94,012

up 20.5%

Population

34,013 → 34,992

up 2.9%

Renter share

18.9% → 20%

+1.1 pts

Bachelor's+

40.6% → 41%

+0.4 pts

Compared with 2022, rent in Merritt Island, FL has climbed by $404 per month, settling near $2,092 after starting the period at $1,688. Household income in the area moved from $78,022 to $94,012 across the same window, up 20.5% versus 2021. Rent outpaced income growth by roughly 3.4 percentage points, which means renters are spending a larger slice of each paycheck on housing than they did in 2021. Headcount in the area went from 34,013 to 34,992 between 2021 and 2024, a 2.9% change. Reading these numbers side by side helps frame whether current listings in Merritt Island, FL look reasonable against where the market sat half a decade ago.

Community

Discussions about Merritt Island

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View Merritt Island rent history (2015–2026) →

Salary vs rent

Can you afford rent in Merritt Island on your salary?

At $2,092/mo, how Merritt Island rent compares to typical pay (30% rule).

Registered Nurse

Avg $87,866/yr · Rent = 28.6% income

affordable

Elementary School Teacher

Avg $62,384/yr · Rent = 40.2% income

rent-burdened

Police Officer

Avg $71,861/yr · Rent = 34.9% income

stretched

Software Developer

Avg $128,442/yr · Rent = 19.5% income

very comfortable

Lawyer

Avg $164,117/yr · Rent = 15.3% income

very comfortable

Firefighter

Avg $58,413/yr · Rent = 43% income

rent-burdened

Truck Driver

Avg $52,740/yr · Rent = 47.6% income

rent-burdened

Electrician

Avg $65,007/yr · Rent = 38.6% income

stretched

By apartment size

Merritt Island rent by bedroom count

Median rent for each apartment size in Merritt Island. Click any size for full breakdown.

Local insights

Tips for renters in Merritt Island

About renting in Merritt Island, FL

Last updated: July 20, 2026

The median rent in Merritt Island is $2,092/mo as of July 2026. A studio apartment averages $1,120/mo while a 2-bedroom runs $1,525/mo. One-bedroom apartments average $1,315/mo and 3-bedroom units go for $2,070/mo.

At 27% of local median household income ($94,012/yr), Merritt Island ranks as affordable compared to the national benchmark of 30%. Rents have increased 23.2% over the past year.

FAQ

Frequently asked questions

Is Merritt Island an affordable city for renters?

Merritt Island is considered affordable for renters. At $2,092/mo, rent takes approximately 27% of the local median household income ($94,012/yr). The standard benchmark is 30%. Merritt Island falls comfortably within that range.

How much income do you need to rent in Merritt Island?

To keep rent at or below 30% of gross income, you would need to earn at least $84,000/year (~$40/hour full-time) to afford the median rent of $2,092/mo in Merritt Island. The local median household income is $94,012/yr, meaning the typical Merritt Island household meets that threshold.

Is rent going up or down in Merritt Island?

Rent in Merritt Island has increased 23.2% over the past year as of July 2026, putting upward pressure on renter budgets.

Which Merritt Island neighborhoods have the lowest rent?

The most affordable ZIP codes in Merritt Island are 32952 ($2,010/mo), and 32953 ($2,131/mo). Citywide, the median rent in Merritt Island is $2,092/mo.

How does Merritt Island rent compare to other cities in Florida?

Merritt Island is middle-of-the-pack for Florida for rent, ranking #156 out of 288 tracked cities at $2,092/mo.

Which nearby cities are cheaper to rent in than Merritt Island?

Several nearby cities have lower median rents than Merritt Island ($2,092/mo): Cocoa ($1,931/mo), Rockledge ($1,935/mo), Cape Canaveral ($2,051/mo).

What percentage of Merritt Island residents rent vs. own?

According to Census data, approximately 20% of Merritt Island households are renters, while 80% are owner-occupied. Merritt Island leans toward homeownership, which can mean a smaller rental inventory.

How does Merritt Island rent compare to the national average?

Merritt Island's median rent of $2,092/mo is $127 (6%) above the US national median of $1,965/mo. Within Florida, it ranks #156 out of 288 tracked cities.

Income Affordability

27%

AFFORDABLE

At $2,092/mo, rent takes ~27% of Merritt Island's median household income ($94,012/yr). The standard benchmark is 30%.

Merritt Island 27%Benchmark 30%

State income taxNone

Run the Merritt Island affordability calculator →

Nearby cities